When it comes to selling a house, timing is everything.
It’s entirely possible that you could sell your house in the next 3 months and make a hefty profit because the market was in a good place when you sold. It’s also possible that if you waited until the following year to sell, you could lose money because the market took a downward turn.
These mountains and valleys are a natural part of the real estate market in America.
Because of that, it can feel a little overwhelming.
Should you sell now? Or should you wait to see if the market improves? What time of year is best to sell?
We’re going to answer those questions for Lehi in this article!
When Is the Best Time to Sell a House in Lehi?
According to Zillow, the best time to sell a house is between May 1st and May 15th:
“Generally, the best time to sell a home to maximize return and minimize time on the market is May 1 to May 15. Homes sold in the first half of May sell six days faster and for $1,600 more than the average listing.”
But why is May a better month to sell? It’s probably because we’re headed into the summer months when the real estate market typically picks up. And if you get your house listed just before summer hits, you’ll likely get more buyer attention.
Here’s how the other months compare, according to David Martin…
So if you want to get top-dollar for your home, then try to sell in May or June. Your next best picks would be August, July, February, or April.
But of course, the real estate market isn’t always as clear cut as that.
Sometimes the market peaks or drops unexpectedly.
So it’s worth doing a bit of your own research to determine if it’s a good time to sell. Here are the factors to consider…
Market Indicators That It’s a Good Time to Sell a House in Lehi
First, let’s walk through some market indicators that it’s a good time to sell your house in Lehi. You can get most of this information through searching on Google or through chatting with a local real estate agent.
Housing supply refers to how many vacant homes are currently on the market in Lehi. You can find this number through a quick Google search: “housing supply in Lehi”
If there’s a lot of houses on the market, that can be an indicator that there’s not many buyers looking for homes, which will usually reduce the price of homes (because demand has decreased). If there’s not much housing supply, that might be an indicator that there’s a lot of demand and that your home has a higher value than usual!
Average Days on Market
You can also find the average days on market for homes in Lehi with a Google search. If homes are staying on the market for a long time, then that means demand is light. If homes are going quick, then demand is high and homes will sell for more.
For reference, Zillow reports the average time to sell a house in the U.S. as 55-70 days.
One of the best indicators to determine if it’s a good time to sell your house is to look at your Zestimate on Zillow. This will give you a ballpark number for how much your home has appreciated or depreciated… and how much you stand to make if you sell right now.
Personal Indicators That It’s a Good Time to Sell a House in Lehi
Even if the market is good, it might not be a good time for you personally to sell your home — or maybe it’s simply not a good time to sell going the traditional route (see another selling option at the bottom of this article). Here are some personal factors to consider.
Can Afford Closing Costs
If you’re going to sell the traditional route — through a real estate agent on the MLS — then you need to be able to afford closing costs, which will amount to 3% to 6% of the sale price of your home.
If you can’t afford closing costs, give us a call at(385) 336-3442. We can probably help. 😉
The Timing Is Right
There’s a lot of personal factors to consider when you sell a home. Is it the right time for you? For your family? For your job?
Make sure that the timing is right!
Your House Has Appreciated
When you sell, you obviously want to make some money… but that’ll only happen if your equity is significant and your home has appreciated in the time that you’ve owned it.
So figure out how much you stand to make before committing to sell — if you want to get a fair cash offer, give us a call at (385) 336-3442.
Here’s Another Option…
Okay. So we’ve talked a lot about how to sell your home the traditional way… through a real estate agent on the MLS… and how to time that correctly.
But what if you just want to sell your house quickly, as-is, and for a fair cash offer… without all of the hassle and fees of a real estate agent?
Then give us a call at (385) 336-3442!
We can make you a fair cash offer, buy as-is, and close in as little as two weeks!
We’ve worked with tons of happy homeowners in Lehi and we’re confident that we’ll be able to serve you, too.