When should I sell? Now or later?
The age-old question I often hear from clients, friends, and family. And there is no right or wrong answer. Some people think waiting until the spring is always the answer. Yet, I love the fall market. Historically the real estate market hits a bit of a lull during the dog days of summer. But one thing we have learned this past year is nothing is normal anymore!
Others will say to wait until the market slows down because they have to buy as well. But there is no guarantee the market will slow down. And unfortunately, everything is relative. It’s not very often that we get to “have our cake and eat it too.” This is no different. It’s rare you can take advantage of a seller’s market for your sale and buy at a discounted price in the same market.
Yes, we are still in a seller’s market. Duh, I know. That’s all we hear about on the news, right? We hear the stories about the townhouse that sold 150,000 or 200,000 over list price. But what the public isn’t told is this. That townhouse listed 100,000 to 125,000 under what the similar house on the street sold for the week before. Something to keep in mind when you hear one of these stories the next time.
Now back to the question- to sell now or to wait. Ask yourself this, why are selling? Or thinking about it? Once you answer that, think about what’s next. Do you have a plan in place? Right now, is a great opportunity to get the most value out of your home. We don’t know what the market will be like in a year or two from now. But we know that homes are selling fast and for top dollar today. So if your motivation is to capitalize on your home’s value, then you have your answer.
In a seller’s market, having a plan A and B is crucial!
Your home could sell quickly. It will sell quickly. It could also close faster than you anticipated. Nine times out of ten you will be in the driver’s seat when it comes to closing dates. Although, I recently had a situation where my sellers were compensated for an earlier closing. Luckily, they had a plan B to fall back on.
So, if you’re sell – are you purchasing a home? Merging into a new home with family, moving to your summer home, renting until you find the right house? Moving out of province? Do you have a fallback plan, in case one of these plans doesn’t “go as planned.”
If you have a plan, you are ready to sell at any time. The best time to sell is what works for you! Not for your agent or because everyone else is selling. Your decision is about what is happening in your life and your future plans. Now may be the time to take advantage of the market or make the move you have been thinking about.
Make the decision to sell based on recent market trends and activity. Let’s set up an appointment to discuss the potential value in your home. And what your options look like moving forward. After looking at the big picture, we may find that now is not the time for you to sell. And that’s great! Because you’ve made an informed decision. But we could also discover now is your time to sell. Just in time for the busy fall market.
