Most people who are selling a home in Dallas are looking for two things: a quick home sale and receiving the highest price. The way to achieve these goals is by balancing supply and demand. There is absolutely a target time to list your property.
What we know is that the real estate market is at its busiest during the spring and summer. LendingTree reports that sales peak during April and May, continue strength in June and July, and 60 percent of all moves occur during the summer. However, this is only part of the story.
Zillow, an online real estate database company, recently reported May is the top month for selling a home. The first half of the month provides the greatest benefit. Examining data from the 25 largest metro areas in the United States, Zillow found sellers will receive an average of 1 percent above their listing price and homes sell 18 days faster.
Sale prices decline in July and then sales start to lag in August. This makes sense when we consider families are both going on vacation and later preparing for back to school. So, while the summer is still considered part of the real estate sales season, offers begin to slow.
Research reveals October is the worst month for selling one's home based on price. The sale price during this month is an average 2.6 percent below estimated market value. Other poor months for getting a good price when selling a home in Dallas include January, February, July, and December.
The best strategy for home sellers is to prepare your home for the market in the months leading up to spring: complete home repairs. paint walls, install upgrades. Interview and sign your real estate agent in mid to late March. Consider aggressively pricing your home to increase demand, and potentially spark a bidding war.
For more information or to talk about the best time to sell your home, please contact a Door agent today!
(Image via American Advisors Group, flickr)