Is Now a Good Time to Sell?
Just because the holidays are right around the corner doesn’t mean you should put your home selling plans on hold. People move and need to buy homes year round. Many families choose to move when the kids are out of school, which means the summer months, but also during the break in December.
Homes are selling relatively quickly in middle Tennessee and the inventory of homes on the market continues to be low. With fewer homes for sale we are in a seller’s market and you would be in a better negotiating position. Due to these factors you will have a good chance of selling your home quickly, if correctly priced.
When I meet with a prospective seller I bring along comps and discuss how we should price their home, including the costs associated with selling and show the sellers their bottom line. Comparable recent sales from the same neighborhood are the best to use. All homes are different though so what one home sells for does not necessarily mean that yours will sell for the same amount. Even though the square footage may be the same, the amenities within the home and the lot may be quite different. In the end, a home’s market value is what a buyer is willing to pay.
Costs associated with selling a home include the sales commission for both agents, seller closing costs, and possibly some buyer closing costs.
Is Now a Good Time to Sell? Here are some stats to compare of homes sold in Williamson County:
- Summer months 2011: May thru Aug = 1,259 vs Winter months 2011-12: Nov thru Feb = 820.
- Summer months 2012: May thru Aug = 1,588 vs Winter months 2012-13: Nov thru Feb = 1,076.
- Summer months 2013: May thru Aug = 1,989 vs Winter months 2013-14: Nov thru Feb = TBD.
Besides noticing that the numbers are increasing each year, you’ll see that there are a great number of transactions during the winter months, and 65% and 68%, respectively, of sales during the summer months of 2011 and 2012. I would project the winter sales of 2013-2014 to be 1,392 (70%).
In answering the question Is Now a Good Time to Sell? I would say, “YES!” Give me a call today to set up a listing appointment…615-504-1185.