Did you know there is ONE month that is THE best for home sellers here in Nashville. Have a guess? I’ll tell you if you’re right and whether or not you should plan to sell YOUR house in this magical month!
Alright let’s jump in! For those of you who’ve watched before, you know there are 3 market indicators that matter: Days on Market (how long it takes to sell), % of List Price (how much sellers get for their home), and Inventory (how many homes are on the market). When I’m looking at a lot of data, I like to look for trends. Are there things that happen consistently year over year regardless of interest rates or world events? The answer is YES!
No matter what world factors are at play, the rise and fall of the market (the heartbeat) remains the same. Market data over the last FIVE years all points to one month…. MAY. May is the month that consistently, year over year shows the strongest sales prices and shortest time to sell, but…there’s something you need to know about that!
Here in Nashville, the typical amount of time from contracting on a home to closing on a home is 30 days. The data shows that May closings are the strongest, that means homes listed in April should have the strongest market support behind them. So sellers, NOW is officially your time!
As always, it is VITAL that you prepare your home, price appropriately, AND listen to the advice of your trusted agent. If you don’t know where to find a trusted agent, tune into this month’s Luxe Q&A on our YouTube Channel for our Top 5 Agent Interview Questions so you can find the expert that is the best fit for YOU.