Selling a Luxury Home > Choosing the Right Time
In our last few posts, we discussed some key elements that you should consider when selling your luxury home, including pricing it right and focusing on quality. In this next installment, we’re going to cover the best times of year to sell your home. If you’re looking for the best possible purchase offer, you may want to rethink when you place your home on the market. Before moving forward with any selling advice, be sure to protect your existing home and your new home with a Bergen County NJ High-Value Home Insurance policy.
Historically, summer is the best time to buy and sell homes. While the market might be hot in summer, that doesn’t mean that the opposite is true during the winter. In fact, January 1st through March 17th is one of the best times of year to sell.
Christmas is right around the corner, which means now is the time to put your home up for sale and make it as festive as possible. People want to envision themselves in the home and evaluate how they would use the space and how they would decorate for the holidays once they move in with their family.
As inventory is low and demand is high around the first of the year, this means you can secure a great purchase offer.
According to Suzanne Powers Realty, sellers who list their home in May are generally too late to the market. Sellers may think this is a good time to list their home, as reports of the spring market begin to flood the news in late April or May. Reports at this time of year are generally reporting sold-closed business from offers written and accepted in February and March.
Sellers may believe May is the right time to list their home based on news reports, but historically, summer can be slow for selling residential real estate. At times, the market can be heavily saturated with new jobs and relocation clients. However, there are also a large number of sellers and buyers who would rather vacation and spend time with their families than focus on moving during the hot months of summer.
Research your local real estate market and get in touch with a licensed agent to determine when you could potentially have the most lucrative home sale. If you’re not quite ready to list it in winter, inquire about your options when spring and summer roll around. The market plays a big role in how much you can get for your property, especially a luxurious one, so be smart about listing!
About Tri-State Insurance Agency
At Tri-State Insurance Agency, we want to ensure your high-net worth homes are protected during the holidays and year-round. Our homeowners’ insurance policies are designed specifically to protect affluent homes like yours. To learn more about our coverage options, contact our specialists today at (973) 579-6776.