When Should I Sell My House? Timing the DFW Market

when should i sell my house

by Marvin Jolly

Timing is everything. Sometimes it is possible to create success with intention. In other scenarios, success could be confused with luck.

Selling your property is no different. It is possible to implement a detailed plan of action and see excellent results in your home sale. Other times, you can do everything possible and still not see the outcome you are expecting.

“What is the best time to sell my house?” is a question we are frequently asked by homeowners.

The answer? ‘It depends.’

when should i sell my house

There are a lot of factors that go into a successful home sale, and every seller would define success differently.

Some homeowners want to get the highest possible price for their property, and they don’t really have a specific deadline in mind. Others need or want to sell quickly, and the actual ‘gross’ price of the home is less of a priority.

And a few people, no actually, MOST people want to sell their properties for the highest possible price AND do so in a fairly short period of time.

Let’s look at the age-old Law of Supply and Demand.

 

Demand
Highest months for ‘Pendings’ (when buyers sign a purchase contract): April – July. More than 1,200 homes under contract monthly in Cowhen should i sell my housellin County.

Supply
Highest months for ‘New Listings’, actually the same as Pendings: April to July

Lowest months for Days on Market:
March: 12
April: 13
May: 10

As a savvy home seller, do you just put your house ‘out there’ and ‘see what happens’? Or do you apply a more intentional plan?

Is the market just going to ‘be what it is’ or are there some strategies to employ to make a difference? What can we do to leverage the system in our favor?

Let’s use this information to make some presumptions:

What We Know About Demand: Highest Months for Pendings are April – July

The four months of April through July equate to 122 days of high activity. A wise seller would want to position their property on the market at such a time as to take full advantage of ALL 122 days, versus only 30 or 60 days of that active period.

Preliminary Conclusion: List early. On or before  April 1 could be a good idea.

What We Know About Supply: Highest Months for New Listings are April – July

During those same 122 days, more competitors are coming on the market. Each month, each week, each day, there are new listings that will compete with your property. In this case, ‘Less is More’. You want fewer competitors. And the competition effects more than numbers. Inside the quantity of competition, there will be some quality of competition. By sheer statistics, the more houses that are for sale will create a larger number of homes that are highly attractive to consumers. There will be some homes with superior locations, premium upgrades, and excellent schools. Your opportunity will be limited by the quantity AND quality of the competition. Even if your house is among the best, your sale and marketing efforts will be negatively affected if there are competitors that are remotely close in quality or uniqueness.

when should i sell my house

Also, with the passing of each successive month moving from April forward, the pool of available homes expands in size. There are typically more homes on the market as time moves forward.

Primary Conclusion: List early. On or before  April 1 could be a good idea.

What we Know about Days on Market: The three months with the lowest days on market are March, April, and May.

March: 12
April: 13
May: 10

This is no surprise if we consider the fact that March is a low inventory month, possibly the beginning of emerging buyer demand entering the market. April and May continue to benefit from a supply & demand balance leaning toward a seller’s market. By June and July, market forces have typically begun to tip the other direction favoring buyers slightly more.

Primary Conclusion: List early. On or before  April 1 could be a good idea.

Do you see a recurring theme?
List early. On or before April 1 could be a good idea.

My unquantified gut-feel opinion says that January/February is a great time to list.

Research by The National Association of REALTORS® suggests that buyers begin looking at least six months before they plan to buy. If they ‘plan’ to buy in the high season of June/July, they begin to look in January.

Low inventory levels in January/February combined with emerging seasonal demand good equate to a nice sale process for you, which could involve an attractive price, short marketing period, and more control of the negotiation process.

What if you can’t list early? What if the timing just doesn’t work for you?

If you must list outside of the sweet spot of timing, that’s ok. You and your REALTOR® will need to create and implement a very aggressive plan that leverages the other critical points: property condition, marketing, and price.


Read More: How to Sell Your House in the Holiday Season


With good advice, you will succeed in any market. The best option? List Early!

when should i sell my house
The early bird gets the worm!

If you would like more information or would like to discuss this topic in relation to your personal property, LocationDFW would be happy to talk with you!

 

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