We are often asked, “when is the best time to sell our home in North Park”? Our answer is always the same. It depends on your personal situation. Do you want to sell your house because you would like to buy a larger home? Do you have a job opportunity in another part of the country? Do you want to downsize? Do you want to sell your North Park house because you want to move closer to the beach?
There are a lot of reasons why someone decides to make this move. Selling a home is a big decision to make, so deciding on when is the best time to sell depends on many reasons.
Here Are Some Reasons Why Selling Your Home Now Makes Sense
- The Inventory in North Park is at an all-time low. Taking advantage of the law of supply and demand works in your favor. It creates the Sellers Market that we are currently experiencing. The best time to sell something when there is a high demand for something and its supply is low. We are working with lots of home buyers searching for a house but don’t have much to choose from. If you list your home in this current market, you will not have as much competition from other sellers. This will ultimately create home price appreciation when buyers flock to your house.
- Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors say that mortgage rates will continue to rise over the next four quarters. This typically slows down home prices from escalating as home buyers will have less buying power.
Best Time To Sell A Home In North Park San Diego
Looking at the chart shown here, in 2016, it seems as if June and July would be the best time to sell a home in North Park. However, this doesn’t necessarily mean that sellers received a higher dollar amount during those months. It just happens to be that more homes came on the market, and buyers could buy.
Since North Park and San Diego, in general, has beautiful weather year-round. We don’t have to wait for the cold and snow to go away before putting a house on the market. People are searching for homes year-round, and picking what month is best does not really translate in San Diego. This, of course, depends if you have kids in school and don’t want to disrupt their school calendar year.
Supply and Demand
The best time for most people to sell a home would be when there is less competition. According to the National Association of Realtors, below is a chart showing the latest home sale report nationwide.
Call The McT Real Estate Group
You may be overwhelmed with the thought of selling your home right now. You have so much to do and so little time. Don’t worry about the details. The McT Real Estate Group will be able to help you with getting your home ready. From de-cluttering your home to staging it to sell. We will help you with getting a pre-inspection if needed and also finding your next home. Whether your next home is local or in another part of the country, we can help. We are here for the long haul. Let us know if you have any questions regarding the North Park Real Estate Market or any San Diego Metro Market. Call us to schedule a complimentary listing consultation at 619-736-7003 or email us at mary@marymctsoldme.com.