Common wisdom has spring starting in late March because the calendar and outside weather tells us that. A common misconception is that the prime home selling season starting around the same time. But there are other factors that come in to play that show by March you’ve already missed the first opportunity to sell you home. Like this past spring we sold the most homes in March, and all of those homes had been on the market for at least a month, if not longer. So people who waited until March to list missed the largest surge of selling activity. A good time to start is now by finding your realtor and talk to them about what you need to do to your house. The Derrick Team is more than happy to come out and discuss what you need to do with no obligations!
First you have to consider the preparation of getting your home ready to sell. Depending on how you ‘keep house’, this can be anything from a couple of weeks to 2-3 months or more. The basics that you will need to address are de-cluttering, cleaning, and making everything looking spiffy! This often includes painting, replacing worn / outdated fixtures & flooring, and repairing items that will need to be addressed to sell the property. We see this all the time where the homeowner is totally unaware of how long it will take them to get the home ready for the market. So a good time to start working on this is around the Thanksgiving holidays in November when you might have some extra time off from work to do as many chores yourself to save from paying others to do it for you.
When should you be ready?
Plan to be on the market in January after the holidays are over. This gives you cushion, as the end of January to early February is our latest recommend time frame to target getting your home on the market (see chart below). Why then you ask? First, when the weather is bad buyers are sitting at home searching the Internet and getting ideas on what they want to see as soon as the weather gets better. You want them to find your home so you’ll be the first on their list. Second, you want to beat all the other sellers who do wait until March or April to list. Again you’ve picked up those buyers chomping at the bit while the weather was bad. Third, first time home buyers will start as soon as they get their tax returns. So there are at least 3 good reasons to be on the market early.
This past spring was our busiest ever and in April local sales in central Indiana were the highest ever recorded after a very busy February & March. Many of our listings had accepted offers the day they went on the market. We saw that many sellers that waited until May / June had to sit and compete with all the other late listings, when the market normally slows somewhat. All the current reports show this spring should be at least as good as last spring with interest rates still in the reasonable range and consumer confidence continuing to grow. There is a pent up demand from first time home buyers that continues to propel the housing market.
If you have any desire to sell in the next couple of years it costs you nothing for us to come talk with you. We’ll be happy to help with a free CMA and tips for getting your home ready with no obligation on your part. Call or text The Derrick Team at 317.563.1110 or shoot us an email. Don’t wait and miss those early buyers.