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Neighbors of Kane County

When Should I Put My Home on the Market?

Oct 31, 2019 01:59PM ● By Vincent Prisco
The seasonality of real estate sales has varying levels of activity, but does that really make that much difference in making the decision to list your home? I would argue that market trends should be the deciding factor.

It is typical to look at the spring market as the best time to sell. For the last four years, the spring market started the third week in January. For the buyer, there were more homes to choose from and for the seller, there was more competition in the marketplace. For the people placing their home on the market in the fall, the fear of no buyers or people walking through while eating Thanksgiving dinner is not appealing. Yet the amount of homes on the market is significantly less and the buyers are still there. For the seller, less competition means your home looks quite a bit more attractive. Most people have an immediate reason to move such as a job change, another baby, or an opportunity to move to a more desired school district. Others have more flexibility in their transition such as those who are retiring, moving out of state to be closer to family, or downsizing.

I would argue that if you have a choice to sell regardless of the season, your decision should be based on market trends rather than the time of year. If market prices are heading down going into the spring and we add a number of additional homes to the market, it will only exasperate the situation, leading to lower than the expected sale price. I would focus on the number of buyers and the level of demand over seasonality as the best time to sell a home which is for many their most valuable asset.

Article contributed by Eric Klein of Klein Realty Group in Geneva, IL
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