Chicago is one of America’s favorite cities for a reason. Not only do we have the best food in the country, but we also have some of the best sports teams as well—let’s not forget the 2016 World Series! Additionally, the overall character of Chicago can’t be matched, and we love to call it our home. Given that it’s the third largest city in the United States population wise, quite a few others are thinking the same thing. Recently, though, the population of the city has been trending downwards.
If you’re planning on selling your home, this may seem slightly concerning. But with the right tools and some planning, you can still sell successfully in a buyer’s market. Here’s how to find the best time to sell and some pointers to help.
For selling quickly
The quicker you sell your home, the better off you are. Stale listings, or houses that have been on the market so long that they begin to lose value, are a real thing. Given that Chicago has lost a lot of residents, some neighborhoods have more homes up for sale than people who are looking for one. The best time to sell your house in Chicago quickly is in June, when homes sell about 8 days faster than the yearly average.
For selling for more money
A buyer’s market can mean homes selling for less than normal, so picking the right time to sell is crucial. Also being the best time to sell quickly, June is the best time if you want to sell your home for more money. In this month, homes tend to sell for around 8% more than the yearly average.
Although homes tend to sell faster and for more money during summer, smart sellers will start preparing for their home sale months in advance. This winter is a great time to start those home improvement projects that will give you more bang for your buck when it comes time to sell. The sooner you start thinking about these things, the better off you’ll be.
Regardless of when you sell, you should always be smart about the process. Start by hiring an experienced real estate agent, study the market and population trends, and always get a reliable appraisal on the value of your home.
Listing your home for an appropriate amount helps to ensure not only that your home sells quicker, but that it’s sold for the highest value possible. Homes that are overpriced can and will scare off potential buyers, and under priced homes will obviously sell for less. Rowe Appraisal Group in Chicago will provide an accurate price evaluation based off of the market, the shape of your home, and plenty of other factors. Request an appraisal today!