Our Beverly Hills Realtors say this question comes up at least once a week. People always want to know when will be the optimal time to sell their home to take advantage of the market. Many people are quick to follow that question up by saying they are totally flexible and in no hurry.
The answer to this question may be different in other parts of the country where climate has a great significance. As you know, weather conditions here in Southern California are totally unpredictable.
You can have a day at 85 degrees one day and it can be cloudy and 50 degrees the next day with a chance of rain. Climate is not a factor, of course it is always nice to show your house on a warm sunny day and it is always better to show a home with a pool when weather is consistently warm.
Also in many family neighborhoods, our Beverly Hills Realtors say often times, school becomes a factor. We often hear people say wouldn’t it be better to sell your home when schools are on vacation? Most people buying and selling do not have children who will be that affected by relocation.
They either have children who are too young to be affected by school or they relocate when their children have graduated and have moved on.
Our Beverly Hills Realtors say the best time to sell your property is when the inventory is exceptionally low and the demand is exceptionally high. It all goes back to the concept of supply and demand. When there is strong interest and very little to choose from, it will be a seller’s market. When inventory is strong and demand is mild, the market will shift to a buyer’s market. Of course it is best to sell in a seller’s market.
Most Beverly Hills Real Estate Agents will tell you, one of the things that will cause inventory to sit and increase is when interest rates are on the rise. Rising interest rates will back buyers off and houses will take longer to sell. At that point you will have a building inventory.
When there is uncertainty; either political or economic, our Beverly Hills Real Estate Agents will tell you that buyers will tend to back off from their purchases. When buyers back off, the result will be a building inventory. As buyers become more hesitant the inventory will grow even greater.
Our Beverly Hills Real Estate Agents suggest you try to stay ahead of changes in the market and negative financial/economic issues.
For comments, questions, or information, call Ron Wynn at (310) 963-9944 or email: Ron@RonWynn.com