Q: I’m selling my house in Northeast Philly this year. When I do, I want to sell it quickly. I don’t want to wait for several months like my friend. He had to reduce his house a couple times and had a lot of people traipsing through his house for months. When is the best time to list it with a real estate company?
A: Traditionally, Spring is the busiest time in the housing market in the Northeastern United States. Many real estate agents and sellers are aware of two major factors that contribute to this thinking:
- The weather gets better in the Spring so there are more homebuyers out shopping.
- Parents would like to move over the summer so as not to disrupt their child’s education.
But the “Spring Market” formula doesn’t always follow suit these days. In 2012, the busiest month for selling homes was March, when 287 units pended. October 2012, however, was a close second when 270 units pended. Even with the bitter cold, now is a good time. Currently, there are only 1,275 residential properties for sale in Northeast Philadelphia.
While more homes are sold in the spring in general, homes are sold all year round. So the best time to sell it quickly is when you’re ready to list your home for the most attractive price for potential buyers. If you’re not ready to list it at an attractive price, you may be forced to follow your friend in price reduction after price reduction in order to attract buyers.