Without question, spring and summer are the best seasons to sell your house. Buyers are out in force, and because there are more homes available, you’ll be able to list your home for more than you could in other seasons. Want to know more? Here are four reasons you should list your Gwinnett home right now for maximum impact.
1) THE SELLERS’ MARKET MAY NOT STAY HOT FOR LONG
Over the course of last year, the median home price in Duluth rose by 9 percent to $218,700, according to the home selling website Zillow. Over the next year, however, prices are expected to rise by only 3.6 percent. That means you’ll want to list your house now, not only to get top dollar for your property, but also to attract the greatest number of buyers before the pace of the market slows considerably.
2) YOUR HOME IS LIKELY TO BE WORTH MORE
Homes are sold for less in the winter, and if an appraiser looks at that data, he or she will be more likely to value your home for less. If you sell in the spring or summer, the appraiser will be more likely to compare your property with more homes that are worth more. Of course, market conditions in any given time and place can be influenced by anything from elections to rainfall. Consider for a moment the past year’s wild gyrations in Dacula’s market, where the median home value went from $218,00 in July to $222,000 in August, and then from $225,00 in September to $229,000 in December. By May, the median showed an 8 percent year-over-year increase to $235,300.
3) FAIR-WEATHER BUYERS ARE MORE LIKELY TO PAY FULL PRICE FOR YOUR HOME
With pent-up anxiety left over from a dreary winter, and more money in their bank accounts from tax refunds, buyers are ready to pounce on properties they love. In real estate, like basically every other market, lower inventory can mean higher prices.
The Atlanta Realtors® Association recorded 13,796 listings for the metro area in April, a year-over-year decrease of 6.5 percent. The 5,042 new listings showed not only a 9.6 percent drop from last April, but also 10.8 percent fewer homes than were put on the market just the previous month. Overall, that left the area with only a 2.9-month supply of homes. You might want to take this as your cue to put your house up sooner rather than later. The tighter the inventory, the more likely you are to get more for your home.
4) BUYERS LIKE TO BE SETTLED BEFORE THE FALL WEATHER COMES
The residential real estate market is dictated by two major factors: weather and the start of the school year. Families like to buy in the spring, get settled during the summer, and have their kids ready to start school in the fall. In other words, if you list your home in earlier in the year, you’ll catch families right when they’re hoping to buy.