Even in today’s crazy market, the last week of August may not be the best time to sell.
In a hot seller’s market like the one we have today, it seems like it hardly matters when you put your home up for sale. No matter what you do, you should expect multiple offers all paying over list price, right? Unfortunately, that isn’t quite the case. Today, I’ll be going over when NOT to put your home on the market.
Something to keep in mind is the time of year. Right now, we are in the middle of summer, and kids are getting ready to go back to school in a month or so. What do families do when their kids are about to go back to school? They take vacations. Especially with more people becoming vaccinated, you can expect vacations in our area to go way up.
Vacations are great, but not if you’re trying to get people to view your home. Your goal as the seller is to get as many eyes on your home as possible within the first week. Statistically speaking, the longer your home stays on the market, the less likely you are to get an offer over asking price.
This can have a cyclical effect. If a buyer sees your home has been on the market for a while in today’s crazy market, they’ll start asking themselves, “Why hasn’t this home sold yet? What’s wrong with it that I’m missing?” They may ultimately still make an offer, but they’ll probably feel more comfortable offering below list price.
The first impressions of your home are crucial. One of the best ways to create a great first impression is to have as many people as possible viewing your home in the first few days.
My No. 1 piece of advice if you’re planning on listing your home during the summertime is to avoid the first few days before Labor Day. This is the last opportunity to travel before fall, so everyone will be in a mad dash to get out of town. Because of this, if you are planning to sell in August, I highly recommend you list your home during the first three weeks of the month.
If that’s too quick for you, that’s alright; just make sure you wait until the school year is settled in before putting your home on the market. If you have any questions about today’s topic or if you’re looking to sell your home, please reach out to me. I am always willing to help.
