When is the best time for selling your Morris County house? Is there even a best time?
If the change in residence is triggered by some inflexible external factor (like a transfer at work), the answer is foreordained: NOW! That can be right now, or in November, or February—since you will be making the move, to avoid paying for two homes, there really isn’t a choice. The sooner it’s listed, the better.
But if the timing of a move is completely at your discretion, the “when” can be troubling. More than one Morris County homeowner has worried so long and hard about the issue that years pass. When the For Sale sign does eventually go up, it’s probably because the cost of inaction has become apparent.
The true answer to the question about the optimal time for selling any given Morris County house usually has more to do with the owner’s individual circumstances than with the ebb and flow of the real estate market. After all, the sale of any particular Morris County house occurs when the ultimate buyer—the prospect who is attracted to the property and who has the wherewithal to buy—learns that it is being offered. That prospect may be more likely to surface during the busiest selling times of the year—but that’s certainly not assured. There’s literally no way to predict when the ultimate buyer will happen to show up.
So, what’s the answer? ATTOM Data Solutions is the mega-data collector which operates a host of the most ubiquitous real estate sales data collectors: outfits like RealtyTrac.com and Homefacts.com. ADS can point to the fact that their data is cited by thousands of media outlets every month: CBS Evening News, The Today Show, Fox News, The New York Times, etc. They aren’t, in other words, kidding around.
A couple of weeks back, they published the answer to the timing question. Here it is:
The best time for selling a house is now.
This wasn’t just a tricky way of saying “as soon as possible ” or “the moment you think you’d like to sell.” ATTOM means literally now: in the month of May. They analyzed 14,700,000 home sales from 2011 to 2017 and discovered that selling your house in May resulted in “the biggest premiums above estimated market value” of any month. The actual premium percentage was 5.9%. I have to agree, that’s a pretty significant statistic.
If selling your own house in Morris County is in the cards, I think it actually is true that seasonally speaking, it’s a great time of year to get going. If you’ve been worrying about the solution to the timing question, you can thank ATTOM…then give me a call!