If you are thinking about selling your home, you probably know many of the basics before you ever speak with an agent. Declutter, make obvious repairs, clean up your yard….but another major factor in your home sale success is timing. Homes listed in May sell an average of 9 days faster than homes listed at any other time of year, and for a selling price of about $2,400 more. With May just around the corner, let’s dive in and see why May is the magic month for putting your home on the market!
The first reason is the simplest – there are simply more buyers on the market. The May time frame aligns nicely with the start of school for the following year. Make your offer in May and with successful negotiations, you can be reasonably sure of closing and moving by late June or early July, with plenty of time to settle in before the beginning of the school year. Changing school districts mid-year is rarely pleasant, so buyers will be motivated to close a deal and get settled in before the new year begins.
Desperate Times Call for Desperate Measures
Buyers who got off to an early start looking may have already had an offer or two get rejected because they were trying to negotiate a good deal. With time flying back and the new school year fast approaching, those same buyers will be more likely to make full price offers just to get a guaranteed deal. You can capitalize on this desperation by having your listing appear fresh and new when May rolls around.
The Weather is Just Right
It sounds so simple, but it’s true – your house and neighborhood will look better to prospective buyers on a bright sunny day than on a gray and rainy one. Especially in a market like Atlanta, May is normally a beautiful month, free from the threat of winter or severe storms. With more bright sunny days, it’s easier to plan an open house and keep up with your yard and so lawn and flowers look perfect for even unexpected showings.
Tax Time Aftermath
Toward the end of April, taxes have been filed and potential buyers are more aware of their financial situations than at any other time of year. Refunds may be burning a hole in the wallets of buyers and they are prepared with down payments and funds for closing. Those who aren’t quite so lucky have at least paid their tax bills and now have that expense out of the way, allowing home shopping to take center stage.
More Timing Tips
The time of year isn’t the only factor you need to consider when planning your move onto the market. For instance, don’t list your house on a Monday. You may be ready to start the week off with this big step, but even the most motivated of buyers are often focused more on the start of their work week and the tasks they need to complete after a relaxed weekend. Instead, shoot for Thursday, but not just any time on Thursday. By Thursday afternoon, buyers are starting to plan their weekends and will look to see if any new listings have appeared that they would like to visit. By having your listing go active at 5pm on Thursday, you’ll appear at the top of the listing pool as buyers send their lists of favorites to their agents to schedule viewings.
Read on for more of our tips for home sellers!
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