3 answers for "when to sell?"

By
Real Estate Agent with Your Friend in Real Estate, LLC

 

It's Groundhog Day and the real estate market is awakening. When should I put my home on the market, sellers ask? June, July, or August, we reply. "It's when kids are out of school and everybody wants to move." Make sense? Perfectly! Is it correct? Likely not!!!

 

A review of the data in my mega-market, the greater Washington DC metropolitan area, suggests a few different answers, none of them are June, July, or August.

 

Here we go home sellers...

 

If you want to maximize your chance of multiple offers, be on the market in March when the months supply of homes is the lowest. You will recall that of the months supply measures the ratio of sellers to buyers. (1.6 months supply)

 

If you want to minimize your days on the market you should be on the market in April or May. (37 days for sold homes)

 

If you want to maximize the percent of your asking price that you should obtain, go on the market in March, April, or May, when the selling price to listing price percentage is highest. (98.2%)

 

The above advice is based on data collected in the past six (post-crash) years. Numbers in parentheses above represent averages for my area. It is likely that your area is similar, but don't assume: Be the first on your block to check it out.

 

Meanwhile, see "Agent's Guide to Real Estate" - free online at http://www.davidr.net/AgentsGuide.html

Posted by

David Rathgeber 

Your Friend in Real Estate, LLC

Broker / Owner and NVAR Lifetime Top Producer

703 434 0773 / davidr@davidr.net / www.davidr.net

Serving the Washington DC metro area since 1987

Comments (4)

Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Interesting...I guess March is a great month and I look forward to it!

Feb 03, 2017 07:28 AM
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

David Rathgeber This is very good report bout when to sell a home.

Feb 03, 2017 01:33 PM
David Rathgeber
Your Friend in Real Estate, LLC - Arlington, VA
Broker/Owner NVAR Lifetime Top Producer & Author

One reason the number-crunchers get it wrong: They fail to adjust the closings they are looking at, for when the contracts were entered. That is the important date for Sellers, not when the closing happens to be. The difference can average a month and a half.

Feb 04, 2017 06:03 AM
Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Thank you for sharing such professional real estate advice for home sellers.  This is exactly the type of information they need to make informed decisions.

Feb 04, 2017 04:54 PM