Should You List to Sell Now or Wait Until Fall?Weighing Your Options
by Brenda Thompson
CEO / Managing Broker / Owner of HomeSmart Stars
Welcome back to our series of articles helping you to prepare for your move to The Outlook. If you are planning to manage your own move and are not planning to use a full-service move manager, here are some practical tips and personal insights to help make your move as seamless as possible.
Selling Now: The Benefits
- High Buyer Activity:
- Summer Surge: Summer is traditionally a busy season for real estate. Families prefer to move during the summer break, and the pleasant (albeit hot) weather encourages more house hunting. This increased activity can lead to more offers and potentially higher selling prices and quicker selling timeframe too.
- Market Competition: More buyers mean more competition, which can drive up your home’s value and result in a quicker sale.
- Locking in Current Market Value:
- Stability: By selling now, you can lock in the current market value of your home. While market trends can vary, waiting could expose you to potential market fluctuations.
- Smooth Transition:
- Moving Flexibility: Selling now allows you to move on your own timeline, without the rush of aligning your move with the completion of The Outlook.
- Temporary Housing Options: Though moving twice might seem daunting, many find that temporary housing solutions, like short-term rentals (STRs) or extended stay hotels, can provide flexibility and ease the transition. Some also consider corporate housing options for short-term needs. I’ve even seen some look into STRs in a vacation destination or visit near family for a month or two, which can be fun options.
Challenges of Selling Now:
- Temporary Housing:
- Additional Move: Moving to temporary housing before relocating to The Outlook means two moves instead of one, which can be more stressful and costly.
- Short-Term Leases: Finding suitable temporary housing that meets your needs may be challenging, with its own set of logistical hurdles.
Selling in the Fall: The Benefits
- Direct Move:
- Seamless Transition: Waiting to sell in the fall allows for a direct move from your current home to The Outlook, minimizing the disruption and cost associated with a temporary move.
- Stress of One Move vs. Two: A single move reduces the physical and emotional toll of relocating, making a smooth transition.
- Potential Market Insights:
- Fall Market: While the fall market typically has fewer buyers, those who are looking are often more serious and motivated, which can lead to a smoother transaction.
- Completed Outlook at Windhaven: Selling in the fall allows you to move into a completed community at The Outlook and settle directly into your new home.
Challenges of Selling in the Fall:
- Fewer Buyers:
- Seasonal Slowdown: The fall market historically sees a reduction in buyer activity as families settle into the school year and the holiday season approaches.
- Market Competition: Fewer buyers can mean less competition for your home, potentially resulting in a longer time on the market or lower offers.
- Market Uncertainty:
- Fluctuating Values: Real estate market conditions can change, and there is a risk that waiting could affect your home’s value. Economic factors, interest rates, and local market trends all play a role.
Weighing Your Options: Ultimately, the decision to sell now or wait until the fall depends on your personal circumstances, market conditions, and comfort level with the potential challenges. Here are a few questions to help guide your decision:
- Are you prepared for the logistics and costs of a temporary move?
- Do you prefer to capitalize on the current market with more buyers?
- Could selling now in a more favorable seasonal market outweigh the costs of two moves?
- Are you comfortable with the potential risks of market fluctuations by waiting?
- Would a single move in the fall reduce stress and provide a smoother transition?
- Or would you rather enjoy the option of a temporary move to a vacation destination?
Days On Market (DOM) Comparison: I’m often asked about the length of time to sell during the summer as compared to the length of time to sell in the fall. While every city and every neighborhood has its own set of benefits, and maybe challenges too, looking at the historical numbers may assist you in your decision to sell now or wait. For Collin County, our current Days On Market to contract (DOM) for June is 35 days, up a little from this time last year. In 2023, DOM for July was 31, with a seasonal increase to 50 days in December and 55 days in January 2024.
As you consider your options, remember that you don’t have to make this decision alone. I’m here to provide expert guidance, market insights, and personalized advice to help you make the best choice for your situation. In the past, I’ve made temporary moves myself and can give you personal insight into what my experience has shown in this approach. In any case, I’m here to help you achieve your personal goals. Reach out today to schedule a consultation, and let’s explore the best strategy for selling your home and transitioning to The Outlook at Windhaven.
Warm regards,
Brenda Thompson
CEO / Managing Broker / Owner
HomeSmart Stars – Real Estate Made Easy
214-797-5003 Cell/Text
www.BrendaThompsonBroker.com
Brenda@nullHomeSmartStars.com
