28 Mar When is the best time to sell my home in Cincinnati?
Today I’m going to talk to you about timing and by timing I mean when is the right time to list your home for sale. Now some agents might just say it’s the spring time or I see a lot of other homes coming on the market so now is the best time to list! At TREO we take actual data from the MLS and using special software that only we have access to, we can tell you the perfect time for when you should come on the market, not just based on your neighborhood but also your price range. We can tell you exactly how many days it should take for you to sell as well as how many days if you overprice it will take to sell.
Lets look at how that is done so you can make an informed decision on when is the best time to put your home on the market. At TREO we work with Clarus to provide all of our MLS data to them so they can provide us with super powerful reports that can help know when is the best time to sell and what the total days on market you should expect and what type of discount you should expect to give when you sell. Using the reporting system in Clarus, I would first choose your school district and the software will gather the information and supply about 8 graphs that will give us information to consider. These graphs include trends over the past two years that detail the following :
1. Solds – This graph will give us a visual on how many properties sold each month and which months sold the most.
2. Contracts – This graph will tell us when the most contracts were written – which normally would be prior to the months that the solds actually occurred in.
We can then drill down further in the school district and choose a price range that your home would fit in. We now have access to reports that show us in the past year. This report will tell us:
1. How many properties in the past year in your price range sold.
2. How many needed to adjust their price
3. How many sold without a price reduction
4. What percentage of the list price did the seller get when priced without a reduction needed vs. percentage received when a reduction was necessary. This will also help you determine how much you can expect to negotiate on your home and help you price your home accordingly. The graph will give you the average days on market it will take to sell your home depending upon how you price it. In conclusion, the graph will show what the average sale price of homes are in your area, and help you determine if it is worth an extra 90 days of being on the market to try and get a higher price or if by pricing it right to begin with, you may find your home sells faster.
At TREO we do this market report on every home we list. Past performance in the market is usually a good indication of what is going to happen in the future. These reports are so useful in planning your market strategy and we strongly suggest, if you are thinking of selling, have your home analyzed with them. Click here to get your reports!