There are many preconceived ideas regarding the best time to list your home for sale so it sells quickly and for the best possible price but the real answer is that it depends on the real estate market at the time you want to move.
Many people will tell you that Spring or after Easter is the best time to sell your Bay Area home. And certainly that used to be when many people decided they were ready to buy. But these are not “normal” times. In the past few years, buyers have been clamoring for homes as soon as the year began and the lack of inventory resulted in many homes selling above list price and with multiple offers.
When Is The Best Time To Sell Your Bay Area Home In 2016?
All the indications are already in place to show that 2016 will be similar to 2014 and 2015 in the real estate market. Open houses and new home developments are already seeing large attendances and desirable homes are selling as fast as ever. The recent increase in interest rates appears to have done nothing to dampen home buyers’ enthusiasm.
What Is Your Competition?
Would you rather have your home on the market when there are many similar homes for sale in your price range or when there are not so many?
If there are a lot of homes for sale that are similar to yours, then that is a good thing for buyers, although not so good for sellers. When there is plenty of choice, buyers will write aggressive offers in the (possibly correct) belief that they are in the driving seat. But if there is a real shortage of homes for sale in your price range, you are more likely to get high priced offers and get them very soon after the home is listed for sale. Right now, inventory is very low in most areas. As we move through the year, it may or may not increase but given the present numbers of homes for sale, if I was planning to move in 2016 I would want to get my home on the market as quickly as possible.