When it comes to listing your home for sale, finding every advantage you can to increase the bidding price is likely to be one of your top goals. As a savvy seller, you probably know that time is a huge factor in this equation, but what time of the year is really the best to maximize bids in the Minneapolis area? In order to discover the truth, experts looked both a raw market data and opinions from some of the top real estate agents in the country.
What Agents Had to Say
According to the results of a HomeLight Top Agent Survey, the months of March and April were considered the best months of the year for a seller to get a great price on a home for sale. There was a significant drop off in July and August, but November and December were considered the worst months to sell. In the Twin Cities, it makes a lot of sense that Spring would be a great time of year to sell but Spring isn’t necessarily the ideal time to sell a home. Average temperatures rise from the 20s to the 50s, snow starts to melt, and beautiful flora sprouts up everywhere. If you want to sell a home in Minneapolis, you could benefit from a 10 percent price increase if you can close on a sale in August. To sell a home in August, you need to prepare to list your home for sale on the MLS months in advance.
For other parts of the nation, the best time of year to list a home for sale depends a lot on climate. HomeLight analyzed housing data from each timezone in the continental United States to find out which months did best. Southern climates without very cold weather did best in late winter and early spring. Northern cities with harsh winters often did best in Summer. More moderate climate saw the biggest jumps around April.
Do Your Research
Knowing that August is the best month for selling in Minneapolis is helpful information, but it’s only the beginning. Before listing your home for sale, you’ll benefit from gathering and analyzing as much local market data as possible. You’ll also need to account for the time it takes to prepare your home for sale for the local market. Bad results from a home inspection, such as a failing water heater, may require repairs that delay a sale by months, so do your best to make sure your property can pass inspection. The local job market, interest rates, tax incentives, and a variety of other factors will also impact the price you can get on your home for sale. The more you prepare and research, the better your results will likely be.
By downloading some of our home selling tools and information, you can ensure that you are taking the proper steps to get the best price for your property. Trends in the real estate market can be volatile, and the best time to sell one year may not be true the next. Stay informed so that you can pounce on the best opportunities for a owner with a home for sale. You should also take advantage of a free home valuation so that you can find ways to improve the appeal of your home or set an optimal asking price.
About Steve Lehmeyer & Transition Realty
Transition Realty owner Steve Lehmeyer specializes in helping people manage real estate transactions in the Minneapolis/St. Paul area. His experience in the Minnesota real estate market spans 20 years. Steve and his team work with clients to buy & sell single family homes, townhouses, condos, lake homes, and investment property. Download a free home search app for your smartphone or search the MLS at TransitionRealty.com.