Waiting To Sell Your Home Might Not Be Best

Dated: 07/31/2017

Views: 58

One thing you'll hear from us real estate agents who are hungry to sell your home is 'SELL IN SPRING. HOT MARKET. SELL SELL SELL!" Generally, it's a good rule of thumb - the spring real estate market is the best time of year to sell your home because more buyers are looking for homes. 

But to get the real answer you need to look at your actual neighborhood.  For example, in Chatham County's Briar Chapel, it doesn't really matter when you list your home.  Last year, 51 resales closed in the neighborhood, and if you break down the numbers into Pre-Labor Day and Post-Labor Day, they even out. 

Image titleThe number of sales stay steady throughout the year and you get as much of your list price regardless of when your home sells.  In fact, the only real difference in the numbers I can see is the time it takes to sell your home. In 2016, the average days on market for homes sold before Labor Day was 58. Homes that sold after Labor Day went up to 74 - but that was with a home that took 695 days to sell! Take that out and homes actually sell quicker later in the year at 41 days. Also, 22.5% of the earlier homes sold within a week. Later in the year that number rises to 30%. 

Another benefit of fall listings is that you take out the "window shoppers" who are just having fun in the spring market. The people looking at houses in the fall are serious about buying. Plus, getting your home on the market now means you're much more likely to make a move before the holiday season. 

So don't let the changing weather stop you from selling your home.  Give me a call if you'd like more advice. I'd love to help you sell your home before the end of the year.

Michael Cunningham

Michael Cunningham is a Real Estate Broker as well as the go-to tech and marketing wiz at Domicile Realty. A native of Tennessee, Michael arrived in Chapel Hill by way of Washington, DC where he help....

Latest Blog Posts

5 Things To Do When You First Move To Durham

     Congratulations. You just got to the area. You’ve unpacked. You’ve done your shopping. You earned a break. Now you’re left wondering: what the heck do I do now?

Read More

Fall Lawn Care Tips

It’s that time of the year again! The dings of fantasy football apps on smartphones in the office may be the earliest sign of fall. Soon you’ll be up to your ears in candy, sweaters, and

Read More

Four Ways To Better Sell Your Home

Selling a home is nearly as complex as buying one! When you’re in the midst of moving and paperwork, the last thing you probably feel like doing is sprucing up your old house.But to your buyers,

Read More

Everything You Need To Know For Pre Approval

Pre-approval is a huge and important step in your journey to homeownership. It can get you in ahead of other buyers who haven’t gotten that far, and it lets you and your realtor know exactly what

Read More