Today I’d like to answer a question that I get a whole lot this time of year, as we transition into Fall. Should you put your house on the market right now? Sellers always want to know whether the Fall is a good or bad time to list their home, or should they wait until next year and list it in the Spring/Summer market. The answer to this question really depends entirely on what’s happening in your hper-local micro-market.
Depending on where you live, your micro-market could mean a few different things. For example, if you live in a subdivision that has a lot of very similar homes that were built around the same time and are similar in style, your micro-market might be your specific subdivision. Or, it might be your specific municipality such as Brentwood, Ladue, or St. Louis City. We have a lot of areas in St. Louis where more than one zip code or municipality is included in a specific school district, and that school district may be better or worse in terms of demand (e.g. how badly buyers want to live there).
Once you know your micro-market, then you can take a look at what’s happening with your immediate market area.
If you find that there are a lot of houses on the market near you, that are similar to yours, and they haven’t been selling or sit on the market for 60-90+ days – these homes will be your competition if you decide to list yours which may mean it’s not the best time. If you decide to go ahead and sell, pay very close attention to what you can do to make your house more competitive once it’s on the market.
Conversely, if you’re finding that homes are coming on the market and are selling in 10 days, above listing price, and there are only a few for sale near you – it could mean the market is hot, demand is high, and it’s an incredible time to list your home!
I think that’s a great place to start and I encourage you to talk with your St. Louis real estate agent about what’s happening in your local micro-market and if things look good. the next step is to drill down into the comparable sales to see what kind of sales price you can expect to get.
As a local St. Louis REALTOR® I believe that trust is earned, that local market knowledge matters, and that you deserve personalized customer service. So, if you’re looking for an advocate and not a salesperson, I invite you to give me a call or text anytime at 314-366-0454.