Home Selling 101

As we all bring 2016 to a close and start to plan for 2017, now is a great time to design a real estate road map.

If you’ve been thinking about the possibility of selling your home, now is the time to take action and plan for success!  The #1 question I get asked is… “When is the best time for me to sell my home?”  

I think anytime is a great time to sell.  Especially in a market like ours.

Everyone’s situation is different and there are so many ways to maximize the sale of your home, year round.  But if you are looking for the time of the year when things get SMOKIN’ HOT, then Spring/ Summer is definitely when the MOST homes sell.  Don’t just take my word for it… Here’s a fun read. 

Some might say that homes sell for more during that time as well.  I think it all depends on how you look at it.  Below is a chart showing the # of homes sold by month vs. the average sales price from Jan 2014 through Nov 2016 in King County.

  1. The green line represents the # of homes sold each month.
  2. The blue line represents the average sales price for each month.
  3. The red line simply separates each year.

Closing typically takes 30-45 days.  If we assume a home were listed on May 1st, depending on when it goes pending… the transaction should close sometime in June or July.  So the chart holds true that more homes sell if you were to list on May 1st.

Now, let’s look at the price homes sell for during that time.  When looking at the chart, it does appear that they do in fact sell for more in June or July, but do they really?!?  Or is it just due to the dramatic difference in the number of homes that sold during that time and the lack of inventory in the winter months?

If you look at the blue line again, you will notice that over the course of each year, the sale price continues to grow.  Let’s say you purchased your home in January 2014 for the average price of $500K and could potentially sell today for the November 2016 average of $660K?  Would you sell your home now?  That’s 32% of equity totaling $160K in the course of 3 years!  Or would you wait until spring 2017 to sell?

I’ve never been a firm believer in banking on appreciation.  Nothing is guaranteed.  After 2007, we all should know that.  So, I say… regardless of when you decide to sell your home, it’s always a good time!  If you are in a position to sell now and want to… DO IT!  If you’re not quite ready, start a plan now so you’ll be ready to sell during the hottest time of the year!

3 Agent Jayna selling tips:

1) Do your homework – have your agent set you up on an automatic search of comparable homes in your area. (hopefully that agent is me 🙋🏻!!)

This will keep you updated on what hits the market in your area, how long it takes to go PENDING, and most importantly what it SOLD for!

2) Peep out your competition – Make it a priority to go to open houses in your area. It’s always good to see firsthand what the other homes for sale in your area look and feel like. Pictures never do any home justice!!

This will also help in giving you ideas of what you can do to spruce up your home, give you staging ideas and even give you a list of wants and must haves for your next home!

3) Create a plan – grab a notebook and start various lists of things to do BEFORE, DURING & AFTER the sale. Here’s a cool video on how to create a bullet journal  to help with daily organization.

Don’t skimp on the organization and planning… this is the most important piece if you ask me.  Things never go perfectly when it comes to a real estate transaction, so taking notes and creating to do’s will help keep you on track when things go haywire!

If you are ready to explore the idea of selling, and you’re looking for a confidant to help you with that process, I would LOVE ❤️ to be that person!!  I take pride in providing value to my clients and I love just being a great resource for questions and answers.

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