WHEN IS THE BEST TIME TO SELL A PROPERTY?
WHEN IS THE BEST TIME TO SELL A PROPERTY?
For most of the country, spring is the best time to sell a home. According to Redfin data, homes listed in March and April not only sell the fastest, but they also sell for the most money. The perfect time to sell will depend on your needs. Every season has its benefits and drawbacks for sellers, below we will touch on these.
Selling In The Spring
Demand is at its highest in the spring and this applies to the Outer Banks. People tend to shop for homes as the weather gets warmer, so getting your home “market-ready” in the winter months for a spring listing usually makes sense. Springtime provides a natural boost of color to enhance your curb appeal as buyers are drawn to “bright and light”, spring is the best time to shine! Keep in mind the competition can be tough with more sellers taking advantage of a spring listing. You need to make sure your property stands out.
Selling In The Summer
Many of the same reasons buyers shop in the spring apply to home buying in summer, school is out for summer break, warm weather, and simply having more daylight hours allows more time for buyers to tour your home. Summer temperatures in the Outer Banks Area average in the mid 80’s for the summer months so, make sure to keep your home cool during showings, no one wants to walk into a steamy house! Keep in mind, summer is when most people take their vacations and could account for a slight slowdown in interest from selling in the spring.
Selling In The Fall
For many buyers shopping in the early fall allows time to get settled before the school year picks up or before the weather starts getting colder, that feeling of urgency can be a benefit to sellers because fall buyers are serious. As a bonus, sellers who successfully sell their home before the end of the season can usually avoid the necessary annual maintenance and winterizing expenses.
Selling In The Winter
Winter is traditionally the slowest season for home sales, however, prospective homebuyers in the winter months are often motivated and ready to buy. At times selling in the winter can get you a higher price. The fact is, there is less inventory, and fewer choices for buyers during the winter months.
Selling In A Seller’s Market
The OBX housing market remains largely a seller’s market due to demand consistently outweighing supply. The inventory of available houses continues to be a constraint on both buyers and sellers. A seller’s market is the ideal time to sell your home, as you can expect it to sell a little more quickly, with the chances of receiving multiple offers and selling at or above the asking price heavily increased.
Matt Myatt and Team are excited to help you get your home sold in any season!