When is the Best Time to Sell Your Twin Cities Home?
As summer winds down and crisp autumn air rolls in, many people start to wonder whether it’s time for a change. If you’ve been thinking about selling your home, you may decide that the summer market is the best time to sell a home. But before rushing into anything, consider all of your options first. For instance, would you benefit more from waiting and putting your home up for sale next spring?
Let’s go over a few benefits to further explore these options.
Selling Your Home in the Fall
Arguably, the number one advantage of selling your home right now is the overall lack of inventory we’re seeing in today’s market. That, paired with the number of buyers still looking to buy a home in the Twin Cities, means there’s a lot more demand! When you consider supply and demand, it’s still a seller’s market. In the last month, homes in the Twin Cities were only on the market for an average of 15 days with most homes selling for 1% higher than its original purchase price. And while you can argue we didn’t see a huge surge in the market as in years past, slow and steady is still winning the race for seller’s in the Twin Cities.
Earlier this month, the Federal Reserve lowered interest rates, which has sparked further interest in new buyers. With the number of buyers continuing to rise, you could argue now is a great time to get your home on the market.
So, before you dive headfirst in getting your home on the market right now, consider both sides to the argument.
Selling Your Home Next Spring
If you’re unsure whether your home is “ready” for today’s competitive market, waiting until spring might position you to receive top dollar for your home. While today’s “seller’s market” can be enticing, if your home is in need of repairs, paint, or any other touch-ups, you might not receive the best offer. Working with a Certified Residential Specialist and preparing your home accordingly is the best way to ensure you get the purchase price you desire.
However, if you feel your home is in the best condition for sale now, waiting might be the wrong move. While you’ll encounter a high number of buyers in the spring, you also run the risk of competing against the higher inventory of homes for sale.
Sell Your Home with Sarah Marrinan
Whether you’re looking to sell your Twin Cities home now, or next year, the first step is talking to a Certified Residential Specialist and exploring all your options in person. Check out our Home Guide or explore similar homes that match yours on our search page to help you get started. Call Sarah First today!
Take the Selling Quiz by texting Should I Sell? to 651-401-8188