Selling your home – that exciting moment when you decide to part ways with your beloved property. But when’s the right moment to attract the most potential buyers in your neighborhood? And when will it also be most convenient for you? In our latest blog post, we’ll guide you to pinpoint when is the ideal time to sell your home in Chicago!
The Best Time to Sell Your Home in Chicago
Is there a particular season that is better than the others?
They often say that the best time to sell your home is during the spring and summer months. When school is out, moving becomes a more practical option, and the pleasant weather makes it a great time for house hunting. According to statistics, more people tend to purchase homes when the weather is warm, which means you’ll have a larger group of potential buyers to attract. To get your home ready for sale, start with some spring cleaning and consider listing it between April and June.
However, if you’re selling a property in a warm region like Southern California or South Florida, the cold weather is not a major concern. In fact, sometimes selling during the winter can be advantageous, as many snowbirds flock to these areas. This means you’ll likely have people from all over the country in the vicinity, creating a diverse and sizable pool of potential buyers interested in your property.
Are you ready to sell?
Before you dive into selling, consider your financial readiness. Selling your home comes with expenses like repairs, cleaning, and sprucing up its appearance. Do you have a specific deadline for the move? Or are you confident in securing a new mortgage for your next home? These factors can pile on pressure, causing stress and potentially leading to a sale at a lower price than you had in mind.
Emotionally, are you and your family prepared? If the move isn’t an absolute necessity, ensure it’s truly the ideal moment to take the plunge. Are your kids nearing the end of their schooling? Are you absolutely certain about leaving behind your friends, job, and the community you’re rooted in? Be certain you’re making the right call before you make a decision that will significantly impact your family.
What the stats say:
According to Zillow, homes listed nationwide between May 1 and May 15 tend to sell approximately nine days faster and fetch nearly 1% more in price compared to the average listings. Keep in mind that your local real estate agent might offer different advice based on the specific trends in your area.
When it comes to choosing the best day to list your home, Saturday is an excellent option. This is because most people have free time on Saturdays to browse through property listings. Additionally, listings often display the newest ones first, so listing on a Saturday can place your property at the top of the list, resulting in more views. The second-best day to list your home statistically is Friday.
In certain regions of the country, houses are selling at prices 1-3% higher during the month of May. It’s essential to do your research and examine the annual housing trends in your particular neighborhood. If you have any questions or need assistance, don’t hesitate to reach out to Heartland Funding Inc., as they are more than willing to help you analyze historical trends!
Being Different Can Be Beneficial
Many folks love the summer, but there’s value in going against the crowd. Selling your house during the offseason can bring its own advantages. Even though you may have fewer potential buyers, there will also be fewer homes up for sale. This is the perfect opportunity to make your home shine brighter than the one across the street. With less competition, you could end up with a bigger payoff!