When Is the Best Time to Sell in Traverse City?

What's the best time to sell your home? Well, that really is complicated. It really depends on a number of different factors. Uh, usually people are thinking what season, you know, is it spring, summer, fall, etc. And that is a factor. Uh, there are some nationwide statistics around that that I'll get into a little bit later in this video. However, there are some more— much more important is what's happening, happening locally. So, but the, the general statistics really are that spring— May is actually the best month to sell your home, uh, but again, what's happening locally could really change that. So, um, spring is the best. May leading into summer and then fall. However, the biggest thing I think that you want to look for as a seller is what's called a hole in the market. So in other words, if there are— if we're talking about the village of Northport as an example, if there are no other homes for sale in the village February, in February, February might be the best time for you to list your home. Even though statistically nationwide February is the best month to buy a home, okay, you get the best deals in February. However, again, the exception to that is if you have no competition. Whereas May nationwide may be the best, um, the best time to sell your home, but, uh, you know, let's say there are 5 homes for sale in the village of Northport, you have a lot of competition then. So whether it's the village of Northport, it's just an easier example. It could be wherever your home is. What you're looking for is where you're the only game in town and somebody really wants— has wanted to be in that area for a long time. So, so that's, you know, kind of a brief overview of the best time to sell your home. You know, there are some tips and tricks as it relates to what day of the week is the best for your realtor to have the home hit the market. You know, traditionally the conventional wisdom was Thursday was the best day. During the really, really hot market that we're just coming off, that switched to Tuesday, um, and I think it's kind of shifting back to Thursday. But really, again, more importantly is what, what's the competition out there? And, and also then to what your personal circumstance is. So for example, I had a listing that was, uh, the soonest we could get it to the market was really late summer, early fall last year. There was a lot of— this was a waterfront property— there were a lot of competition There was a lot of competition at that time for waterfront properties, and so, uh, and we had some issues with pricing, but, you know, uh, it didn't, it didn't sell. Ultimately, the listing expired, and we decided to take another bite at the apple, uh, and list it again at a little bit of a reduced price from what it was listed at previously. Um, and then when we were talking about what's the best time And the seller's circumstances were, hey, you know, we really need to get this thing sold sooner than later. We've got some construction project going at our home in another state. We need— we could use the money, you know, that type of thing. So, so really it's so specific, you know, um, to the seller's, uh, personal circumstances to answer the question about when is the best time to sell. So sellers' personal circumstances, you know, the general nationwide statistics do play a role, and then local, what's happening locally in the market. Is there competition? Are there other similar listings to you, or are— do you possess the onlyness? You're the only show in town. The only property in the specific area. That's the hole in the market that you're really looking for when you're trying to answer the question about when is the best time to sell in order to maximize, uh, your value. There you go. Thanks a lot.