When Is The Best Time To Sell A Home in Raleigh?

Many residents of Wake County wonder when is the best time to sell a home in Raleigh, NC?  There is a lot of data that suggests the fall may be the best time to sell, however, statistics suggest that there is one particular month out of the year that yields the best results.

There are many aspects to a successful house sale, from psychology to weather to math. Some important aspects do come down to the numbers.

 

Timing of the sale

The timing of a sale, when it’s something you can schedule, is all about numbers: dates, prices, and days on the market. Prime selling months vary by location, and from year to year. But there is definitely a best time to sell in Raleigh.

The Math

If you hope for the highest price for your house, statistics for the years 2014-2017 say that June is the best month to close, when sales were 4.25% higher than average. So list in April, since selling time averages 3 months. November was in second place with prices 3.24% above average.

Focusing on 2017, June still wins at 4.14%, but it was December in second place at 4.06% above average. And May followed at 3.28%.  June consistently remains the best month to sell for the best price!

If you want to sell as quickly as possible, the years 2014-2017 point at July, when homes spent 11 fewer days on the market, after listing in May. But June and August are in second place with 7 fewer days, which gives June a medal in both categories. For just 2017, it’s June on top, with 7 fewer days on the market, although May, July, and August are right behind it.

If you plan to consider timing, the up-to-date market knowledge of a top realtor in your area will be valuable.

Appraisal Numbers

The number that comes from an appraisal is very important indeed. Appraisers are independent parties who assess the actual value of your house/property. They look at the sale prices of comparable houses in your market and look carefully at your house. Then they tell all interested parties, including the seller, the contracted buyer, and their lender, what the house is worth.

The appraisal happens after the buyer signs the contract, which may seem strange and stressful. But it protects the buyer and lender; if the appraisal doesn’t match the offer, everyone can go back to the negotiating table. The seller waits for a signed contract because appraisals cost money, and waiting protects the seller from paying until there is a legally committed buyer.

Good home appraisal tips can maximize house value

First, have all records of renovations and upgrades, including their dates and costs. Upgrades don’t always add value, for example when the house’s prime selling point is its location. But in areas with fewer amenities, the house’s condition can increase the appraised value.

Second, disclose any less-obvious qualities that stand out in the market, such as larger size than other homes in the neighborhood. Third, it never hurts to spruce up! Touch up paint, punch up curb appeal, make sure everything is spotlessly clean, and be friendly to the appraiser. It can all help a house look its best.

Choices

Working with the numbers to plan ahead is the right path for some sellers. But if you don’t have the time for a planned-out traditional sale, consider a company that will buy your house for cash. You have choices!

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