Sarah Reynolds, CEO of the number one real estate team in the WORLD goes LIVE on Facebook to answer the number one question that consistently gets asked from sellers. When is the BEST time of the year to sell your house? Read what Sarah had to say…
“The Reynolds Team and my passion are giving. I give back by doing an amazing job in helping buyers and sellers in real estate. Then we give a portion of our commission to amazing worthy causes, schools, and more. Today’s topic is to answer the number one question that consistently gets asked from sellers.
We are asked this question many times a year. Why are they asking us that? Why would a seller want to know when is the best time to sell and how to get the most money? It’s because they want to make sure that when they put their house on the market, they’re going to get the most money.
The answer is probably different than what you’re expecting. A home has something to do with two things – this is normal economics:
First, it has something to do with supply. Supply/real estate are homes for sale. Inventory was actively on the market. The other thing has something to do with demand. In short, the answer is “supply and demand”. Economics says that when supply is low and demand is high, you actually get the most money.IE., Apple sells iPhones, if everyone wants the new iPhone and there’s not a lot of them, Apple can demand a higher value because there are limited iPhones. The same rule applies to real estate. If the inventory is down and many buyers are in the market looking, demand is up. That equals to top dollar.
When is the best time where supply is low, and demand is up? In our market, it can vary throughout the year – and the amazing thing in particular, the D.C. Metro market and the other markets that we serve are very transient areas.
What that means is that there are people moving in and out on a regular basis throughout the seasons. Our area is continually turning over. People are moving in and out of the area on a regular basis.
What that means is that, there’s always a supply of buyers that are looking for a home, which is great. The DC Metro area is a great place to be. A seller is in our area because there are always buyers looking- things that impact supply. In terms of demand, there are few things that are impacted:
- Number one is Interest Rates. Interest rates impact demand. Right now, interest rates are really low. So it’s looking really good in terms of buying a house.
- First-Time Homebuyers are the first set of buyers that have to be purchasing their home. Do they get people to move up to the next home? The entire market revolves around the first time homebuyer. Interest rates of first time homebuyers really reflect demand. That’s why affordability factor and things like that are super important now.
Bringing back the question, when is the best time of the year to sell your house? If you want Top Dollar, you want the supply to be low, you want demand to be high.
We have two main markets in our market right now. A lot of people think that fall and winter seasons are not good times to sell a house. I have NEWS for you… it’s a GREAT TIME to SELL A HOME!
When I ask a lot of people, when do they think is the best time to sell the market, the number one answer I get is Spring Break. Some people say Summer. WHY? They are saying that the kids are out of school and that is why it’s the best time to sell a house.
SHOCKING NEWS for you, that’s NOT TRUE for the D.C. Metro market. That’s not the case. What ends up happening in the D.C. Metro is, everyone goes on vacation during that time. They work really hard. When school is out, they’re out on vacation.
I read a lot of articles saying spring and summer seasons are the best seasons to sell a house. They even have this really fancy graph. When you see a fancy graph, you think it must be real, right? It will even show sales prices. It’ll show a big graph for May with a dollar sign. June with even more top dollars. Now, this is the thing. In real estate, when they’re showing this, they’re basing it off of close dates. So if you’re looking at these graphs, that it closed in May, it closed in June, or it closed in April… what does that mean?
In Real Estate terms, if the property was closed in April, May, or June, does that mean that it’s because the house is listed on the market in the same months? The answer is NO!
It will be the months of January through March.
So that’s why this can be deceiving when someone shows this graph in terms of closings because that’s actually not reflective of the market. If a house sells, that means it was actually on the market before it was Sold, which means that it was on the market in January through March.
So what we have personally found that Winter is actually one of the BEST TIME to sell a house because our area people are moving regularly in the winter. Supply is actually lower because so many people think that the best time to sell is Spring and Summer – So not a lot of homes go on the market.
To answer your question, the best time to sell is if the inventory is low. When is inventory the lowest? In our market typically, it’s late fall through the winter and very early spring. The minute the New Year hits, we start getting calls from buyers wanting to buy a house immediately. They set their New Year’s goals. They were just at their family’s house for the holidays, and they want to have a house like theirs. Then they call us immediately!
When is the best time?
RIGHT NOW is an awesome time to sell a house because supply is DOWN, demand is UP. As we head into late Fall, as we head into Winter, as we head into early Spring, what’s coming up right now is an awesome time to sell a house because Supply is LOW! Demand is HIGH! That’s when you get Top Dollar for your home.
I’m Sarah Reynolds, the team leader of the number one real estate company in the world. We’re the home of the Guaranteed Sale Program.
What does that mean? That means that Your Home is SOLD, or Debbie and I will Buy It*. We started out in the D.C. Metro market and yes, we’re the Home for that! So if you have any questions about real estate, we are here to help you. If you want to know to find out the value of your home. Call us, at 703-297-4251.
Have an awesome week. Another week to change some lives!”
Sarah Reynolds | CEO | The Reynolds Team
703-297-4251 | RTRSells.com