So, you may be wondering to yourself when is the best time to sell my house? 

Well, that depends on what kind of market it is aka is it a buyer's market or a seller's market?

What is a buyer's market?

A buyer's market happens when the available inventory exceeds the number of buyers seeking to purchase property. If you are looking to buy a home in Wilmington, NC, then a more ideal time to buy is during buyer's market; you might be able to buy a home for a lower cost than you would buy it for in a seller's market. 

What is a seller's market?

A seller's market happens when inventory on available properties is low and there are more buyers seeking to purchase homes than there are available homes on the market. Many times, this results in multiple buyers putting in offers on the same home, which turns into a contest to see who's going to have the best to offer. This obviously works well for the sellers because you can lock in a higher sales price. 

When is the best season to sell a house?

Typically, there are more homes for sale during the summer season.  The surplus of homes for sale could give a buyer more choices.  If there is a shortage of homes for sale in the summer when there is a surplus of buyers, this could cause a rise in prices.  If there isn't a shortage and instead a surplus of homes on the market then that could cause a buyer's market.

In the fall season many buyers pull their houses off the market because the kids are back in school, or they don't want it on the market during the Thanksgiving and Christmas holidays.  As houses get pulled off the market in the fall season it can cause a shortage of homes for sale, especially if there are still a lot of buyers looking to purchase.  This can surprisingly cause a seller's market because there could be more houses than buyers.  Many people assume that the Spring and Summer is the best season to sell their house but that is NOT necessarily true.  

How do I know when it's the best time to sell a house?

Timing a market is impossible.  You never know when you are the highest prices or when you are at the lowest.  A full time great Real Estate Agent can tell you if we are in a Buyer's Market or a Seller's Market.  However, be careful because markets change quickly too and could be shifting before the agent notices too!  Also keep in mind that if you are selling a house and planning to buy another house that it's all going to equal out because you are probably buying in the same market conditions.  In that case the interest rate on your new home can play an important part in the decision.  We've been very fortunate to have low interest rates for a long time but that is changing and rates are going up.  A rise in interest rates will increase your future home monthly payment so keep that in mind when trying to time things out.

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Homes for Sale in Carolina Beach

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Homes for Sale in Castle Hayne

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For Tips on How to Pick an Agent:

Here's a link to an article on How to Pick a Top Selling Agent as Your Real Estate Agent.  It will give you things to think about so you're next purchase or sale is a smooth experience.

Regina Drury

We Can Help!

Are you looking for the best real estate agency in Wilmington, NC? When choosing a real estate agent, be sure to go with someone who has expert knowledge of listings and selling a property.  The Regina Drury Real Estate Group has that and more.  We are a Full-Time real estate company in Wilmington, NC; our crew can provide you with all of our expert knowledge and focus on maintaining a high degree of customer service that will leave a lasting impression.  Contact us today to talk more about your Wilmington, NC Real Estate needs.