For many people, selling their property when the timing is just right simply isn’t an option. Life circumstances, rather than the mood of the market, will often be the deciding factor. But for those who do have the luxury of time, choosing when to sell presents its own conundrum:
how do you know when to put your property on the market to get the best possible price?
Before you can answer this question with any degree of certainty, you’ll need to get a sense of what’s happening for other sellers in your market. After all, if you’re surrounded by properties with “for sale” signs that have been stuck in the lawn for months, chances are your house could end up in the same situation.
Start by gathering all the information you can about recently sold properties in your area, along with properties that are similar to yours. Property websites are a good place to look for this information, as many will provide recent sales data or at least give you an idea of the prices people are asking. Tracking newspaper listings can also help complete a picture of your market.
The trick here is to check back to these sources over a number of weeks. If someone lists a property just like yours with a price you’d be more than happy with, is the listing gone by next weekend? Or is it still there a few months later?
Of course, real estate agents are another great source of local market information, and will often have an insider’s perspective on where the market is heading. Comparing information from multiple agents will give you even more food for thought, and might even put you in contact with someone who has just the right experience to sell your property when the time comes.
Finally, you can also take the step of getting in touch with a real estate appraisal service to ask for a professional evaluation. If you’re not keen to pay for a full appraisal of your property, some do offer free online tools to give you an estimate of its value. Once you’ve put all this information together, you can start the selling process knowing your timing is spot-on.