Wednesday, October 09, 2019

Best time to sell your home in Detroit

House for sale in Detroit - Photo by T. Koch/Pixabay
Navigating the housing market can be tricky and so much of it depends on timing. Knowing when you should list your home can mean the difference between making a significant profit or simply getting out the door - and often that timing changes on a dime. With a little research and some time on your side, you can determine the best time to sell in Detroit, MI.

One size doesn’t fit all
A quick internet search will bring up generalized suggestions for selling from top real estate agents around the country. The general consensus of when the best time to sell your home is appears to be spring, or more specifically, March. Let’s take a moment and consider the weather in Detroit, MI in March.

I’m sure that shuffling around looking at prospective homes in slush doesn’t top your list of favorite things to do, which is why a “one size fits all” approach to listing your home isn’t ideal. With the market dependent upon things like weather, temperature, and hours of daylight, March is not a good time to sell in Detroit, unless you’re okay with having your home sit on the market for a bit.

Best time for you and your family
What’s motivating your move? Are you relocating, downsizing, upgrading? These factors will help determine the best time for you to sell your home. Be aware of the amount of time involved in getting your home ready to list and then the time you’ll need to have your home in show-ready condition before you receive an offer. If you’re in the middle of an insanely busy time at work and you’re not pressed for time to relocate, consider holding off until you have the time to devote to prepping your home for sale.

Best time to sell quickly in Detroit, MI
Let’s be honest, no one wants their home to sit on the market, especially when a job relocation sets the clock ticking. The longer a house sits on the market, the more likely the selling price will plummet (and the opposite is true -- houses that sell fast typically sell at or over asking price). The best time to sell in Detroit, MI -- and to sell quickly -- is June. Be aware that June is the ideal closing date and that the average time it takes, from listing to closing, is three months. In this case, you want to be prepared to list your home in March to sell in June.

Best time to sell for a profit in Detroit
If time is on your side and you’re in a rush to sell your home, consider timing your sale for the most profitable time of the year. This will be especially helpful if you’re upgrading your home on your timeframe.

You could potentially make 20% more off of the sale of your home if you sell your Detroit, MI home in July. The sun’s shining, the temperatures are nice and warm -- people are happy and ready to buy, especially those families with school-aged kids. So, if you want to make more money from the sale of your home, you want to look at listing in April for a July settlement.

While the best time to sell in Detroit will differ slightly, depending on your situation and goals, it’s best to work directly with a top agent in your area to determine the timing. However, if time is on your side, you’d be better served by taking the time to get your house prepped for listing and researching the best agent for you.

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