You’ve probably heard it many times before, but it’s still just as true as it’s ever been: spring is the best time to try to sell a house. There are the obvious reasons, of course. Winter’s inclement weather is gone, the sun is out, and people are more inclined to be out house hunting. There are, however, less obvious – but perhaps more important – reasons why you should sell your house in the springtime.
If you live in Cincinnati or Northern Kentucky and have been thinking about selling your house, we’re giving you 5 reasons why you should sell your house in the Springtime.
Viewing Is Better
The sun is shining, the days are longer, and buyers are in a better mood in general – all good reasons to sell your Greater Cincinnati Area house in the springtime. But there’s also the benefit of houses looking better in the spring. All of those April showers (besides flooding the Ohio River) are also bringing up May flowers, which makes your landscaping pop and increases your curb appeal!
In addition, daylight savings is back in effect. So days are longer, which allows more viewing time in better light. Interested buyers rarely risk icy roads and driving by to look at your house in the dusk after work. So, use these longer days to your advantage!
Higher Sale Price
Basic supply and demand generally means lower prices when inventory is higher. But with real estate, more buyers can actually have a positive impact on the price.
In the springtime, when far more houses are listed, prices are higher. The reason for this is that real estate is highly seasonal, with home buying driven by weather and the school year. There are a lot more buyers vying for the available homes during the spring. And that’s definitely a good reason to sell your Greater Cincinnati Area home in the springtime – because at that time of year you are likely to get more money out of it. Who doesn’t want to sell their home for more money?
Better Valuation
A related reason to sell your Greater Cincinnati Area house in the springtime is that it will generally appraise at a higher valuation. Appraisers, remember, figure the value of your house chiefly on the basis of the value of comparable houses in the area. So if you put it on the market during a low-price season like winter, your house will be worth less.
When you want to sell during an “on” season like spring, experts recommend waiting till a few houses around have gone up for sale before putting your house on the market. That way, the appraiser can use the higher seasonal values of those other comparable houses to give yours a higher valuation. A word of caution, though: make sure your appraiser does, in fact, know the neighborhood and the home values. Be sure to work with your local Realtor like Team Sztanyo to help you through this process.
Bidding Is Better
What could be better than having several buyers bidding on your home, fighting it out in a bidding war to see who the winner will be? This is a legit possibility if you sell in the springtime, and it’s been happening more and more in the Greater Cincinnati area. If you have a marketable home that shows well during a high activity selling period, you increase your chances of getting multiple offers.
With multiple offers and bidding competition, you not only can get a higher sale price, but buyers are also less likely to request concessions for repairs and closing costs. In addition, cash buyers are often particularly aggressive bidders in situations like this. And a buyer with cash in hand means a quick closing and a lot less headache for you as the seller.
Low Inventory In Cincinnati & NKY
This last reason might be the best reason for you to sell your house this spring in Cincinnati.
If you read the chart from CABR, two key statistics stand out for the market in Cincinnati from 2017 to 2018. First, the average home price climbed to nearly $188,000, which is up about 4%. Also, inventory has dropped from 4,815 units a year ago to 4,027.
What does that mean for you, the seller? It means that buyers are spending more for homes and the inventory is less. This is great news if you are looking to sell in Cincinnati! When inventory is low, it’s a great time to sell because you should be able to get a higher price. And if you work with an agent like Eric Sztanyo at Keller Williams Realty, you’ll be working with a professional to help you get your home sold fast!
Its pretty clear, then, that if you’re looking to sell, you should sell your Greater Cincinnati Area house in the springtime. What’s not always as clear, though, are the many other factors that influence price and selling speed. That’s why it’s always helpful to work with an agent who can help you understand the current market conditions and get your NKY or Cincinnati house sold fast!