You’ve probably heard it many times before – “spring is the best time to sell your house” – but that isn’t always the case. If we look at sales data for the entire city of Seattle over the last 3 years, you’ll notice that while the number of homes sold typically peaks in May and June, so does the total number of homes available for sale. So while there may be an influx of buyers, you are also competing against a higher number of people looking to sell a home. If you look at the adjacent graph, you’ll notice that Seattle has seen a relatively consistent stream of sales activity from March through December, especially in 2013.
So, while not all sellers have the luxury of picking and choosing the exact time they want to sell, Seattle sellers as a whole are definitely enjoying a Seller’s market. During these market conditions where buyer demand is outpacing inventory, many sellers feel they can skimp on that fresh coat of paint or decide to take more of a DIY approach to selling their home. Frankly, this is the climate you want to take extra measures to ensure your home looks its best and yields the most profitable outcome. Remember, markets are cyclical and just a few short years ago, many sellers were jumping through big hoops only to break even or even lose a substantial sum. Today, it’s time to capitalize on opportunity and reclaim what was lost in the downturn. I can’t emphasize enough the importance of making sure your home makes a good first impression the instant it goes on the market – regardless of the season. If you work with your listing agent to ensure the right repairs and improvements are done, staging is in place, and most importantly, your PRICE is set properly, you’re likely to realize the greatest outcome. Furthermore, it’s important to have a plan in place for handling competing offers should the opportunity present itself. A good listing agent will have a track record of pulling together a strategy for carefully managing all of these important tasks to aid in maximizing your financial outcome from your sale.