Selling Your Home: Is It All in the Timing?
If you happen to pay attention to mortgage news, you’ll notice the focus of those reports center primarily on mortgage rates. A slight uptick in mortgage rates can keep buyers off the market for a new home. While there may be some very good reasons why these buyers hesitate, people looking to sell their homes should probably ignore those reports. Yet timing might play a role in when you should be selling your home. Is selling your home really all about the timing of your listing?
In Central Oregon, we are blessed with distinct seasons, all of which hold an unparalleled beauty. While winter may seem like an unlikely time to list your home for sale and an even unlikelier time for buyers to look for a new home, looking for or selling a home during these months might be the best time to see a home under more adverse conditions. Unfortunately, my opinion doesn’t play out when it comes to statistical analysis of when buyers buy and sellers list. Turns out, May is actually the best month to sell your home.
Sellers are always looking for the highest premium for their property. While how well you have maintained your home, how well it is staged, and of course, how accurately you home is priced compared to other homes of similar style are all important in the speed in which your home actually sells, it seems that there are better months to list to get that premium.
Based on information focused on pricing alone, May is the best time to sell your home. There are several reasons why this month in particular stands out as the best time to list your property. Home inventories, or the number of homes available for sale, ebb and rise throughout the year. Buyers also follow this pattern with one exception: in May, there are more buyers than sellers. No one can say exactly why. And as Econ. 101 teaches us about supply and demand, this means that sellers will get a higher premium for their listing in this month compared to others.
How much higher? Because of this imbalance, sellers who listed in May not only received a premium of as much as nine percent higher than listing done in other months, the home was on the market an average of eighteen days less.
Statistics also point to a better day of the week as well. Homes listed on Thursday found more buyers than homes entering the market on Friday, Saturday, or Sunday. The reason: buyers are more likely to make plans for their home shopping on this day.
If you are considering selling your home, May is the time to do it. While I tend to agree with those numbers, I also know that whenever you make the decision to list, who you list it with is just as important. We at the Jones Group @ Sunriver Realty are committed to getting that high premium for your home whenever you decide to list.
How can we assist you today?
On behalf of The Jones Group @ Sunriver Realty
Nola Horton-Jones, Principal Broker/Realtor | ABR, C-RIS, e-PRO, GREEN, RSPS, CCIM Candidate
Bryce Jones, Broker/Realtor | ABR, CRS, e-PRO, GREEN, GRI, RSPS, SFR
Karen Marcy, Broker/Realtor
The Jones Group @ Sunriver Realty | 57057 Beaver Drive | Sunriver, OR 97707
Mobile: 541-420- 3725 | Mobile: 541-420- 4018 | Mobile: 503-327- 9611 | Fax: 541-593- 5123
Licensed in Oregon