Whether you’re upgrading to fit your growing family or downsizing to a smaller space, you more than likely want to make as much profit as possible from your home sale. Knowing when the best time to list your home for sale is an essential part of the selling equation, especially if you’re looking for a solid return on your investment. While you may receive a slew of answers to this question, the reality is that the best time to sell your home depends wholly on the location of your home and the market in which you’re selling. So, what’s the best time to sell in Kansas City? Let’s take a look at the variables.
Best time for you
A lot of details go into the listing of your home, from necessary repairs and finding the right agent, so you’ll need to be in a place where you can devote your mental energy to the process. Do you have the time to research real estate agents? Is your property in tip-top shape? Do you need to be looking for a new home at the same time you’re putting your house on the market? You should consider all of these questions before leaping into listing your home.
Many sellers are often taken aback when an agent tells them that repairs must be made to the home before they’ll take the listing. Be prepared to have a real estate agent suggest home improvements before listing your house on the market, and be ready to take care of those suggestions. The possibility of needing to schedule home repairs -- or doing them yourself -- means that listing your home when your schedule is already jam-packed may not be the best time for you.
Best time for your family
If you’re not in a situation where you need to sell in a limited time frame due to a job relocation or a similar time-sensitive relocation, you’ll have the ability to take a look at the needs of your family when determining when to list. If you’re reluctant to uproot your kids during the school year, late spring or summer would be the obvious choice for listing your home. However, you need to be prepared for less foot traffic and a smaller buyer pool because many people focus on traveling over the summer months, rather than shopping for homes.
Best time to sell in Kansas City
Remember how I said that summer could typically be a slow time for sellers, especially because many potential buyers are on vacation? The reality is that summer is the time to list in some markets, as every real estate market trends differently, responding to the unique factors that make up the area. But the best time to sell in Kansas City? You might be surprised.
Looking at data collected by HomeLight, a nationwide real estate referral company, November is a banner month to close on your home. In fact, in 2017, Kansas City home sellers made 4.58% more than the yearly average by closing on their home sales in November. Keeping in mind that it takes an average of three months to settle on a home, the best time to list your home on the market in Kansas City is in September.
If the fall is terrible timing for you, it’s the second best time to sell your home in Kansas City, according to 2017 data, is July. In 2017, Kansas City sellers made 4.25% more than the annual average on the sale of their home closing in July. If we back that date up by the average closing time, we can see that May is the second best month to list your home in the Kansas City market. Summer sales are perfect for families with children, as it won’t interfere much with the calendar school year, giving the entire family plenty of time to plan and relocate.
Now that you know the best time to sell in Kansas City, we can look at the worst time to sell your home -- just for fun! You likely won’t be surprised because it’s pretty common knowledge that winter is a pretty slow time for real estate sales, particularly in colder climates. In 2017, March proved to be the worst time to close on the sale of your home, with sellers making -42.25% less than the yearly average on the sale of their homes. Yikes! And if we take the average closing time from March, we can see that January is an abysmal time to list your house. If you’re not pressed to list in the winter, try to hold off until the warmer months.
As you can see, it pays to keep a close eye on market trends when you’re planning to sell your home. If time is on your side, be strategic and plan to list your home in the fall, when you’re sure to maximize your return on selling in the Kansas City market.