Naturally, the best time to sell is when buyers outnumber the number of available homes. But what other indicators can sellers look for to determine whether it’s a good time to sell? There are a few signs we’d like to point out:
- The economy is doing well. Confidence in the overall economy will benefit your sale.
- Interest rates are low. This affords buyers more purchasing power.
- It’s spring or summer. Traditionally, these seasons are the best time to list.
Beyond these points, there are some other considerations to keep in mind, as well. One key factor is whether we’re currently in a buyer’s or seller’s market. Of course, if you’re attempting to sell, a seller’s market is ideal.
When increased demand for homes drives prices up, sellers have the opportunity to earn a great deal for their listing. An increase in employment rates, low inventory, and downward trending interest rates both tend to be contributors in a market favoring sellers.
Yet a spike in interest rates can also be a positive sign for sellers. When interest rates suddenly increase, buyers may flock to the market in an attempt to lock in a deal before the upward trend continues.
But what signs indicate a buyer’s market?
A buyer’s market is characterized by declining home prices and demand. Economic disruptions such as widespread worker layoffs are often behind this kind of market. Also, short-term drops in interest rates may also give buyer’s a competitive edge. High inventory is another factor in creating a buyer’s market.
All of this information will be important in helping you discern when to sell. Basing your selling schedule on these factors will help you select an ideal time frame when listing.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.