When you’re thinking about selling your home, you’re probably using somes strategy to determine when the best time to list is. You’ll want fewer homes on the market or a high volume of buyers. Each market varies on times of supply and demand, so what is the best time to sell in Utah? Here’s your guide.
High Demand
May, June, July, August, and September are all hot months for buying. Usually this is due to nice weather, but can also be connected to the school year. Many families like to plan a move around the summer break.
If you’re looking to sell during a time of buyers galore, you’ll want to consider listing before that season starts or in late June to jump in as back to school buyers start shopping.
High demand means that a desirable home can create bidding wars, which means multiple offers to you as a seller to consider or negotiate. It also means that there is likely more competition, so knowing your market is important.
Low Competition
People need to move at different times of the year. Changing circumstances aren’t limited to breezy spring days. If you need to move during winter months, you could benefit from lower competition as a seller.
If it’s snowing or cold, there will be fewer sellers but there will still be some eager buyers. As a seller, this means that you still have the chance to attract more attention and likely get a price that makes you happy due to the low supply.
During this time, be aware of the time it takes to sell. The literal cold weather may make buyers come at a slower pace to avoid super chilly days or snow storms.
Pricing Matters
In the winter you may get a price that makes you do a happy dance due to low supply for buyers, and in the summer you may create a bidding war due to high interest in your home.
Pricing too low could leave money on the table, but if your home is priced too high for what it is, you won’t get what you’re asking to matter the season. It’s important to price your home accurately. A licensed real estate agent that is local to your area is a great resource for pricing your home. They should provide you with a Comparative Market Analysis (CMA) to help you understand how homes in your area are selling and what the prices look like.
The Entire Process Takes Time
Keep in mind that the entire selling process does take time. Once you find the perfect buyer, they will need to finalize financing, you’ll need to go through due diligence, and then closing. If your first offer doesn’t pan out during financing or due diligence, you should also be prepared to find another buyer and go through the process again. The earlier in the season you list (or when you list before the season starts), the more runway you’ll have if things don’t quite keep to your original timeline.
Find a Homie
A local real estate agent can be your MVP when it comes to selling your home. Homie agents help you price, list, and close on your home sale in Utah. Click here to learn more about selling with Homie or here to learn more about what Homie agents do differently.
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