Pricing Your Home is Part Science and Part Skill

In order to sell your home for the best possible price, there are several factors to consider.

 

Time of Year

In our area, the Spring is usually the hottest market to sell a home. It’s warming up, school is almost out, and families prefer to move in the summer before the new school year. The second-best season is the Fall. Summer vacations are over, families are back in a routine, and folks have the time to put into the home buying journey. Summer can also be a pretty good time to market a home in our area. There may be a different type of buyer in the Summer months, those singles or families without the concern for school years. The winter months are usually considered a Buyer’s Market because those that are selling during the holidays are generally highly motivated by life events to sell.

Supply

It’s simple supply and demand. If you have more buyers than homes for sale, then houses will get multiple offers and higher sales prices than if there are lots of homes for sale and fewer buyers. Even if inventory is low in the area, some neighborhoods may have a lot of competition to sell, making it harder for you to get the price you want. The more desirable of a neighborhood and lower inventory, the higher home values rise.