In a tight market, how can you determine the best time to sell?

Key Insights

• Sellers currently have an advantage, but every sale is personal.
• Look to housing logistics, like determining your next residence, to help navigate your selling timeline.
• Ask your REALTOR® about how a home seller net sheet could help you understand your post-sale finances.

The 2023 housing market continues to favor sellers, and inventory has been tight for years. Some homeowners are wondering… if sellers have had the advantage for nearly a decade, why should I sell my home now?

Here, we’re sharing expert tips to help you figure out the actual best time to list your property for sale.

Selling a home is personal

In almost every case, selling a home is a personal decision. It may have been a long time coming: Barb and Diego, set to retire in September, are finally having more concrete discussions about downsizing and decide it’s time to call their Realtor. It may be a decision that happens more quickly — like the Hylden family realizing in May that they cannot spend another winter cooped up in a too-small house… so it’s time to start looking for a move-up home.

These cues are personal to each homeowner, but they have one thing in common – they are the signals that now might be the ideal time to move.

A property sale should be logical

Known as “home selling season,” spring tends to hold some of the best months to sell a house. Sellers may choose to list their home during this time of year so they can appeal to a higher number of buyers, especially those who may wish to get into a home before the new school year starts in the fall.

Similarly, lakeshore homeowners may wish to list their home in early spring so that they can wrap up the sale prior to Memorial Day weekend. Lake home buyers are interested in enjoying the next summer on the water, so many will be timing their purchase accordingly. Conversely, those interested in hunting shacks will likely begin searching by mid-summer at the latest, so they can have their property set up by the fall.

Keep the selling logistics in mind

Many homes listed in today’s market are selling quickly, so you’ll need to consider where your next place of residence will be. Whether you have another residence lined up to purchase or transitional housing where you can stay or rent, your next living solution may help guide the timeline of selling your current home.

The stress of coordinating a simultaneous home sale and purchase or organizing a Plan B residence is enough to halt some sellers who may actually be ready to list their homes for sale. If you’re stalling because you know change will be hard, a Realtor can help.

Home sellers can benefit from working with a Realtor by:

• Working together to find the right next steps or residence options.
• Having someone to talk to about housing nerves – and getting thoughtful advice from a licensed expert.
• Ensuring the best offer is accepted for the value of your for-sale home.
• Receiving comprehensive market insights to strategically plan the property listing.

Use finances to guide your home selling timeline

If finances are leaving you unsettled, there are ways to estimate what your wallet could look like post-sale. By speaking with your Realtor, you can request a draft of a home seller net sheet. This document will help you understand the financial impact and outcome of your future home sale.

To calculate your specific results, the home seller net sheet will assume a projected sale price for your property (that is, of course, subject to change). Additionally, the document will estimate the cost of selling your home, including:

• Seller-related closing costs
• Agent fees
• Taxes to be paid at closing
• Payoff of mortgages or other liens against the property

Finally, this home seller net sheet will provide an expected amount that you’ll receive upon closing. Be sure to ask your Realtor about this, and remember all figures are conditional.

List your home for sale with Edina Realty

There are many reasons you may be on the fence about a home sale. A good real estate specialist will help you navigate the next chapter on your terms.

If you’re ready to take advantage of the current seller’s market, now is the time to reach out to Edina Realty or your REALTOR®. A local expert will offer no-pressure insights to help you reach your home goals.