Figuring out when to sell your home can make all the difference when it comes to getting the right price in a timely manner. The problem, though, is telling when it’s time to sell. Here are four tips that will help you watch the market for the right opportunity to sell your home.
Check How Quickly New Listings Nearby Receive Offers
One of the simplest but most effective ways to watch the market is to keep an eye on online listings to see how quickly they receive offers. Most real estate listing sites will tell viewers if a property has a pending offer when they view it. If you’re seeing listings in your area go from available to pending rapidly, it’s a good sign that the market is in your favor as a seller.
Dive Into the Numbers
You can also check out your local data on monthly home sales to see how the real estate market in your area is doing. Monthly sales data is made publicly available in most municipalities, though you may have to do some digging to find it. If monthly sales are trending upwards, it may be a good time to put your home on the market.
Ask a Professional
Another very easy way to see if it’s time to list your home is to simply ask a real estate agent. A good agent should be able to tell you what the local market looks like and give you some realistic expectations for the sales process. Talking to an agent before listing is also a good way to figure out what kind of improvements you should make to your property before putting it on the market in order to get the highest price.
Talk to People Who Have Recently Bought or Sold Homes
Although it won’t give you quite as many insights as looking at city-level data on home sales, you should also consider talking to people who know who have recently been involved in selling or buying homes. These people will likely have a good idea of how quickly buyers are putting in offers and how much they’re willing to pay.
With these four simple steps, you can get at least a general idea of the real estate market in your area and determine whether it’s a good time to list your home. Every market is different when it comes to real estate, so be sure to look at the conditions in your area rather than relying on national or state-level data.