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The importance of listing a home at the right time

On Behalf of | Apr 16, 2018 | Residential Real Estate

Those looking to buy or sell a home in Delaware should consider how the time of year influences the market. A market analysis by the real estate tracking website Zillow has identified May as the month when homes sell the fastest and demand the best prices on average.

After looking at data from 24 large markets nationwide, the first half of May emerged as an ideal time to list a property in 14 regions. Sellers who listed during this peak window for sales enjoyed an average premium of $2,400. Current market conditions tracked by Zillow indicated that inventory is tight as of Spring 2018. This situation will likely apply upward pressure on prices.

However, the first half of May is not necessarily the sweet spot for sellers everywhere. Regional variations exist. For example, home sellers in Pittsburg achieve the best results in the last two weeks of March. The first weeks of June produced the greatest demand for homes in St. Louis. Starting a listing on Saturday, however, gave sellers an advantage in all markets.

In addition to studying the elements that influence local markets, a person beginning a transaction for residential real estate might have legal concerns to consider. An attorney could inform a client about liabilities associated with a particular piece of real estate. If necessary, legal counsel could also examine the terms of a purchase agreement and explain how they might impact the buyer or seller. Since a sale should involve accurate disclosure about the condition of the property, an attorney could confirm that all disclosure forms have been submitted for review.