Times are changing and you’re thinking about moving the family into a new home. But before you start searching for your next dream home, you’ll need to figure out when you’re going to sell your existing home. The decision is a complex one, especially considering the unpredictable economic environment you’re living in. And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.

Current Inventory

If you pay attention to supply and demand, you will realize that when there is more competition, there is a smaller chance that you will be able to ask for a premium on your home. However, there tends to be a time of year in this area where buyers come out in droves. Ask me what the inventory levels are like in your area, and I’d be happy to assist you in making an educated decision.

Individual Factors

If you are planning on selling your home, but the holidays are coming up, and you typically host many guests at home, you may want to hold off until the first of the year. The Christmas season will typically slow down the flow of transactions. But also keep in mind that there are going to be buyers every month of the year regardless of any holiday. Some buyers’ needs change at the most inopportune times, forcing them to move during the winter.

The best day for selling

According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.