One of the most frequent questions I get asked from homeowners considering the idea of selling their home is, “When is the best time to list our home for sale?” While the answer to the question isn’t necessarily black and white, and there are often many social and economic factors to consider, the following is my take on when the best time to list our home for sale would be. Everyone has their own reason for selling, but this advice applies to anyone who has the luxury of time on their side and the choice of when they would like to list.
If it is a condo you are thinking of listing, whether it be a townhome, stand-alone home (bare land condo), or apartment style; I believe the best time to list is when competition is low. For example, if there are several other apartment-style units for sale comparable to yours in the same complex or building, chances are you are going to sit on the market for a while. Unless you have something completely unique to offer that your competition does not (eg.- view, additional parking, top floor, etc), then waiting until there aren’t as many comparable units for sale would be best.
You may have heard other Realtors® talk about ‘time of year’ when referring to the best time to sell, whereas I think the right advice is much deeper than that. I believe the question that needs to be asked is “what style of property are you wanting to sell?”.If it is an acreage property you own, then the main selling feature of the property is often the land and would be best shown in the summer months when foliage is in full bloom. Ideally, you would want to list in April or May as this is when most acreage buyers start up their search.Similarly, the same is true when considering selling a single family dwelling (stand-alone home). If there are many homes for sale comparable to yours in your immediate area, waiting until the competition is thinner might just be your best option.