When Should I Put My House On The Market?

The question is when you should put your house on the market. I received this question the other day when I was talking with a friend about selling their house. The premise he gave me; is there a better time than another time to put the house on the market in this economy.

A good question that deserved a well thought out answer. My first instinct as a Realtor and a salesperson was anyday is a good time to put the house on the market. However; in reality I said to him it is not so much when you put it on the market, but where you live that decides that more often.

Being in the south we are immune (for the most part) from the brash winters that the people in the North receive from November through February. So, the weather in Charlotte does not really play a factor in whether it is a good time to put a house on the market or not.

What does factor in is what is the neighborhood and area you are in doing right now. Is there a lot of homes on the market? Are they foreclosures or short sales or resales? What is the absorption rate of the homes on the market? Can you get what you need out of the house in a time frame that is workable for you?

These question more than anythggn else should decide when you put a house on the market versus anything else. If you are in a neighborhood with a high volume of short sales and foreclosures and the prices are substanitally less than what you are going to accept...then your best option is to wait.

I told him based on the numbers to wait...What he would realistically expect to get out of the house versus what he would be competing against did not work to his advantage at this time. Sometimes you need to let the market balance itself out before you place your home on the market. The worse thing you can do is look at it in an emotional state and feel that your house is worth more than it really is...

My advice to someone is always the same....there is never a bad time to put the house on the market if the numbers make sense. Because people buy houses 365 days a year...and who knows that buyer for your house could be out there right now looking for a house.

Dave diCecco
Realtor/Broker
www.davedicecco.com