KAMLOOPS REAL ESTATE
HOME SELLER'S GUIDE: THE BEST TIME TO SELL
Whether you're looking to upgrade, downsize, relocate or simply want a change in lifestyle, the process of selling your home can prove to be a positive one. As a professional team of REALTORS®, our goal is to help you sell your home with minimal hassle, as quickly as possible, and for the best value. However, before pitching that "Just Listed" sign on your property, we recommend taking time to first assess the reasons why you want to move...
- The kids have moved out of the house and you're ready to downsize?
- You need more room for the family you want to start?
- You've recently changed employment and want to live closer to your new office?
- You simply want to change up your lifestyle, whether to embrace a more urban atmosphere or peaceful suburb?
By exploring your motives for selling, River City Realty will be able to assist you better when it comes to searching for a new home and ultimately figuring out what you require in the outcome in the sale of your current home.
So, When is the Best Time?
While more homes in Kamloops typically go for sale on the market during the spring, this does not necessarily indicate that spring is the only good time to list your home! Ultimately there are always going to be buyers and sellers any time of the year, so it really comes down to your unique situation and what works best for you. While winter is typically thought to be the worst time to sell, there are many occasions that indicate otherwise.
For example, if a person decides to sell their home in the fall, they'll need a new home anywhere from the next month to three months away. This means that this person may have less inventory to choose from around that time and your property may stand out more, resulting in an increased demand and higher selling price. Alternatively, in the spring, there may be more inventory and also more buyers. If the balance of buyers versus inventory in both spring and winter is on par, the pricing will remain the same or be similar. Keep in mind, your time is the right time. In most cases, the best time to sell is likely when your existing home no longer meets your needs.
Important Economic Factors
When selling your Kamloops home, you may want to also take into consideration important economic factors: Are interest rates currently low or high, and how do these interest rates compare to your current mortgage? If rates are higher, your monthly payment amounts may be higher than your existing ones upon the purchase of another home. If rates are lower, it could be an opportune time to trade up to a more expensive Kamloops home without enduring a significant increase in your monthly financial obligations.
Market trends may also play a part depending on whether it is a buyer's or seller's market. Typically, in a buyer's market, there are more homes for sale than there are actual buyers. Homes will then tend to stay on the market longer and prices may stabilize or decrease. But just because it's a buyers' market, that doesn't mean that your home will not sell, take a longer time to sell, or be sold at significantly lowered prices. By making sure that your home is priced at a fair market value and is show ready, your home should still sell in a decent amount of time and at a great price. In contrast, a seller's market tends to have more buyers than properties available to be purchased. A seller's market typically translates into quicker sales and higher selling prices with buyers having to make decisions at a quicker pace and being prepared for potential multiple offer scenarios. Other than a buyer's and seller's market, many times there is what's considered a balanced market. A balanced market occurs when the number of homes currently on the market is approximately equal to the quantity of buyers looking for new homes to purchase.
Regardless of the market, River City Realty is able to provide you with the most knowledge and offer resources in order to make the most of your move. Through comprehensive training in the real estate market, we can take advantage of all the factors discussed above to help assess your situation and determine the right buying or selling time that would work best for you personally.