I think spring is the hottest season for real estate. But since its July 4th sales lag behind as people go away on vacation and start to think about the new school year. If you failed to sell in the peak season, consider listing your house in winter. Talk to your local real estate agent as they are best to tell you what the local housing market is like.... more
Mary is right. Another consideration is timing - the first 45 days of your listing period is so important - interest falls like a rock after that. Errors in pricing during that important marketing period is a big blunder. Regardless of the market absorption stats, the first 45 -60 days is key. It may take you longer to sell, but blowing it early on will cost you in the long run. The basic reason is this - buyers are online now, they are well educated, if you are overpriced and don't correct quickly you will likely lose their attention and not get it back. This is a tough lesson - learned the hard way by many, many sellers. Sellers who price correctly out of the gate, or correct quickly if necessary, will get more $$ for their house than those who don't. Put another way, time is not your friend.
Market absorption, or "time to sell" is an easy calculation and a good gauge of how your market is moving - also good for setting your expectations. To calculate take total active listings and divide by the number that have gone under contract in the last 30 days.
Good luck to you!
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