August SunCrest Market Update
A question we’re regularly asked is “When is the best time or month to list my SunCrest Home?” It’s a simple question but the answer isn’t always so. We often say it depends. We do agree that figuring out the right time to sell can help maximize the sale price of your home and take some stress out of the process, it’s a little more complicated than rambling off a specific day, week, or month even. Every home is unique, and every homeowner has different circumstances.
For fun, we found an online real estate database company touting May 1-15 as the best time to sell your home. Further, they say listing on a Saturday will give you a leg up. According to their national data, they suggest that homes listed for sale in this window sold almost two weeks faster than average, and for $2,500 more. But does that apply here in SunCrest? Lets take a peek at their claims.
Homes listed for sale in this window sold almost two weeks faster than average. This measurement, or “Days On Market (DOM)” is a factor the real estate industry uses to to gauge how long home are for sale before an offer is accepted. The graphs below illustrate a 3 year history of the median and average time a home here in SunCrest is on the market before receiving an offer. While the time spent on the market varies throughout the year in SunCrest, the theory of selling faster when listed in May isn’t always true.
Homes sold for $2,500 more. This seems easy to measure, but SunCrest has affordable townhomes as well as custom multimillion dollar estates, so each neighborhood requires careful consideration and precise attention to detail. For sake of argument, lets take a step back and look at SunCrest as a whole. While SunCrest average median prices are definitely up, the theory of selling for $2,500 more when listed in May just doesn’t hold true for homes on the hill.
Sooo….when is the best time? When you’re ready. We believe every homeowner has different considerations and and every home has a story. Why are you moving? What sold you on your home when you bought it? When do you need to move by? Do you need to sell before you can move and/or buy your next home? Are there updates or modifications that can add value to your home? How does your home compare to others in the area? While each season may bring about different motivation for buyers, we have a hard time saying there is ever a “best time” to buy or sell in SunCrest.
Our SunCrest Market Update is a hyper-local analysis of the most up-to-date information regarding the SunCrest real estate market.