We are fast approaching the New Year and the time when homeowners look for advice regarding the “best time to list my home?”
Question your Question
It is often appropriate to ask yourself a question in response to a question. This is one of those instances. The first question you should ask yourself is, “When is my ideal closing date?” This question is key because many homeowners have a less than accurate perception of how long it takes to sell a home. For instance, let’s say the average market time in your town or neighborhood is 105 days. In the mind of most homeowners, that initially translates to preparing to place their home on the market three and one-half months before they want to close.
Delving Deeper
However, let’s take a closer look:
- Preparing the home for sale: (Staging, gathering workmen, etc.) Anticipated Time: 1 Week / Actual Time: 3 Weeks
- Market Time: (Many MLS systems do not include days accumulated when homes were either cancelled or expired and re-listed.) MLS suggested market time: 105 days / Actual market time including expireds and cancelled listings: 165 days
- Processing Time: (From pending date to closing): 45 days
The Alternative Answer
Alternatively, when asking the above question, a homeowner may want to know the optimal season to sell. They’re not so much concerned with closing during a particular month as they are attracting the best buyer. Conventional wisdom of course is that the spring time is best.
My twenty-six years experience has told me differently. No one particular season is better than another. For every reason someone can give me as to why it’s best to list in the spring, I can give a reason as to why the Fall or Winter is just as fruitful. (Less inventory, a higher percentage of motivated buyers and the most number of relocation buyers to name a few.) One just can’t predict when the best buyer for a particular home will appear.
In actuality, the best buyer will typically come forth and the opportunity for the most satisfying home selling experience will occur at that moment when the homeowner is emotionally ready to sell and the home is physically ready.
For more information about the local real estate market, call our Darien office at 203.655.5358 or visit our website at afahomes.com.
