When is the Best Time to Sell Your Home?
You may have heard many different opinions about when the best time to sell your home is.
Spring? Summer? Fall? The fact is there are several factors that determine when it’s a good time to
put your home on the market. Mainly, there are four criteria that are pretty solid cues that it may
be time to sell:
- Low Inventory
- Low Interest Rates
- Rising Home Prices
- And Warm Weather
Take a look at this list and then talk to Agent about listing your home.
When Inventory is Low
During the height of the housing collapse, buyers had their pick of the litter with an
overabundance of homes for sale all across the country. It’s when inventory is low that sellers
have the advantage. If you are one of only a few people looking to sell in your area, you could find
yourself smack dab in the middle of a bidding war!
If you have been thinking about selling your home, ask your agent about the inventory in your
area. What is the current rate of home sales where you live? How many foreclosures? Is demand
high for new homes? If housing supply is limited, now may be the right time for you to sell.
When Interest Rates are Low
A drop in interest rates often spurs on-the- fence buyers to finally make their move. If you’ve been
thinking of moving up or downsizing, you may want to put your home on the market soon so you
can start your search for a new one and take advantage of low interest rates.
Depending on the type of mortgage you take out, you could lock in a very low interest rate. That
could mean paying less than 5% interest on your new mortgage over the term of your loan.
That is excellent news considering that the interest paid on a 30-year mortgage is only second to
the principal on your mortgage in terms of cost. Wouldn’t it be great if you could knock off several
thousand dollars in interest over the life of your loan? Check with agent to see just how much you
could save with a low interest rate.
When Home Prices are Rising
When home prices are rising, it is great news for sellers, bad news for buyers. Unfortunately, the
housing market can be very unpredictable. Trying to time your home sale with rising home prices
could prove tricky. An experienced agent can best advise you about whether or not now is the
time to list your house while your home’s value is on the upswing.
When the Weather is Nice
This is one that you may have heard before – spring is the best time to sell your home. According
to a study by Zillow, this is good advice. Generally, in the early spring in warmer climates homes
sell faster and for an average of 2% more. In areas where the climate is colder, the peak time to
sell is late spring, early summer.
Combined with low interest rates and rising housing prices, if you time it just right, you could be
looking at triple cherries right now. Could this be the perfect time for you to sell your home? Talk
to the top agent in Baltimore now to find out!