Many homeowners wonder when to list their Westlake luxury homes for sale. Although homes are bought and sold all year long, there are seasonal and monthly fluctuations in home sales and general changes over time. Understanding what variations occur in the real estate market can help clarify when to list your home. Here are some of the factors you should consider.
Market fluctuations
There are many reasons for fluctuations in the activity level of the real estate market. First off, there are macroeconomic cycles of alternate increases and decreases in the price and inventory of homes. Second, there are seasonal variations in real estate activity. These and other factors determine when it is most favorable to list a home. In addition, there are personal factors that come to bear, such as moving plans.
Listing in the spring and summer
Spring is a popular season for moving. With the winter holidays and weather behind them, people are more confident about moving to a new home. Perhaps for this reason, most sources say spring is the best time of year to list a home; that’s when the real estate market is most active.
An interesting chart from the Federal Reserve Economic Data website shows monthly sales data for new homes in the U.S. This is one of many data sets that suggest an increase in real estate activity beginning in the spring. Google Trends similarly shows a spike in searches for homes during the spring and summer months of most years. There are, however, still many home sales throughout all seasons of each year.
In an area like Dallas Fort Worth, winter is not very harsh, and spring weather comes early. Dallas, as well as its suburbs like Westlake and Southlake, has a subtropical climate. Nevertheless, it generally holds true that homes listed sometime during the spring season tend to perform the best in the real estate market.
Holidays
In general, the holidays are not typically a popular time for homes to be shown and sold. The period from Thanksgiving to New Year’s Eve is not the best time to list a home, simply because anyone who has the option will at least wait until after the holidays — if not until springtime — to move.
While areas like Dallas Fort Worth have mild winters, the holidays are still an important factor that affects real estate activity. Most buyers of Westlake or Southlake luxury homes don’t want to move on a holiday. Thanksgiving Day would arguably be one of the worst days to list a home. Most Americans are too tired from turkey and mashed potatoes to start searching for a home; they are also gearing up for Christmas, New Year, or any of the several other holidays that fall in December. However, if you for some reason are inclined to list your home in late November, don’t be too concerned. There will undoubtedly be a few industrious individuals using their time off to browse home listings, possibly as part of early preparations for a springtime move.
Days of the week
Many sources claim that homes sell better when listed on a certain day of the week, but the day varies depending on the source. According to several articles by the National Association of REALTORS®, homes listed on a Friday tend to sell more quickly and for a higher percentage of the listing price. However, the more specific you try to get in determining the best day to list, the more difficult it becomes. If you want peace of mind in regard to precisely when you will list your home, talk to a local real estate agent who can weigh in. Few real estate professionals insist upon listing homes on a certain day of the week or favored calendar date.
Personal factors
While there may be general seasons, days, and times when listings of Westlake luxury homes tend to perform better or worse, personal factors come into play when listing a home. It could be the right time for you to liquidate a home for personal, financial, or family-related reasons. For instance, you may be ready to move into a new piece of property that you recently purchased, or you may have a growing family that requires more space soon. Given that quality homes sell throughout the year, your timing should primarily depend upon what’s right for you.
If now is the right time for you personally, you can focus on other factors besides timing to successfully sell your home. Factors such as how you stage your home and whether you work with a real estate agent will probably have a bigger impact than timing will on the success of your home sale.
If you are contemplating listing your home for sale, your best course of action is to consult with a real estate agent, regardless of the timing. A real estate agent can advise you as to current market conditions and also help you to assess if now is the right time for you to sell your home.
Listing a home with professional guidance
While listing a home in spring — and maybe even on a Friday — seems to be a sound strategy, real estate buyers are looking for Westlake luxury homes 365 days a year. If now is the right time for you to sell yours, contact Dallas Fort Worth real estate agent Eric Hacker. Eric Hacker is a Dallas area real estate agent specializing in Southlake luxury homes, Westlake luxury homes, and high-end properties in the surrounding areas. If, on the other hand, you are interested in looking at luxury real estate, check out Eric’s portfolio of featured properties. List, sell, and buy with confidence with the help of an experienced local real estate agent.
