REAL ESTATE MYTH BUSTED
When to List Your Home for Sale
So we’re going to bust a couple of myths or perceptions about when the best time is to list your home, specifically in Waco, Texas. And so the data I’m going to show you today is for our market, in Waco, Texas. It includes listings and sales within a 20 mile radius from the center of Waco. And so we’re we’re talking about hyper local data here.
And the reason why I want to do that is because I relocated back to Waco, I’m originally from Waco, but spent about 15 years in the Houston Texas market and sold homes down there. The shifts, meaning the rises and falls in the market, are different there than they are here in Waco. We’ve all heard waco it’s a little quirky. And today we are going to talk about the quirkiness of when to list your Waco, Texas real estate.
So there is a common perception out there. And people ask me all the time, oh, yeah, I should list my home in the summer, right? Because school is now ended and most of us believe that’s when people move. So I should list in like June, July. And people are going to buy and move, you know, at the end, July and August just before school starts.
And I am here to tell you that that is absolutely incorrect. And so I’m going to show you why and show you all the data.
So the what typically happens is the the main motivator of moving is people are relocating because of jobs that is a huge has a huge impact on sales activity in our area. And so as we all know, budgets for these companies are done at the end of the year, right October, November, December, they decide January they act on the new budget, the new budget is going to include people being hired people being fired, people being relocated. And so that all happens in January in February, so people know that they’re going to be relocated as early as January and February in the new year. So when they communicate this to the rest of their family, people start panicking, oh my gosh, we got to go we got to go find a house, we want to find the right one, let’s start looking right now. So they start looking in February, sometimes even January. So their primary goal is to get into their new home at the very end of June 1 but very end of May 1 of June, get settled, go on vacation, come back, meet some friends get acclimated you know get into kind of a routine, get everything totally unpacked and then start school.
So um, let me show you this graph. This. So this one shows you you know, all the way back, it shows you several years worth of data all the way back to January of 2011. And you can kind of see there is a rhythm to our market, right this up, down, down. And it’s a little jaggedy in it. But mostly there is a rhythm to our market. That means we can predict based on this data, the best times to list your home.
So let’s look at that in a little bit more detail. Okay, so this one is showing you a year. And when we’re looking at, you know the rise in a fall in a little bit more granular level you can see January, February, March, across the individual months sitting these are actual closings, which means you were listing your home in advance of these high points. So we get a high point and closings in March. it dips down over spring break and then we get distracted with graduation here in May. Lots of closings at the beginning of June. And then it starts to taper in July, August. And September, people’s attention is redirected to school and football schedules where we acclimating for the fall, we get another big bump in October, a dip in November. For some reason Thanksgiving is really precious to us. But now everybody has to rise up again and by before the end of the year, so that they can get their tax deductions.
So I’m hoping that all of that is making a little bit more sense. And what I want to look at now is specifically through the year, when exactly you should list and and on the opposite hand when you can buy to get a good deal. So we’re going to look at one more data set here. And this is 2020. So you can see I’ve shown you how all of the years no matter what the year is, they always kind of fall this rise and fall. And so what I want to show you here is when to list so I’m going to I’m going to point it out to you anytime before these high points. This is when you want to list your homes. If you’re wanting to sell, this is sale – this is when it’s closing. So 30 to 45 days before this march high point, this is when you would want to list your home. Another. Another point is another high point is in June, it’s the highest point of the year. That means anywhere you list your home between the spring break basically, on through, you know, the first of June end of May, you will want to list your home, because they’re going to keep those listings are going to sell close in June, July and August, we’ll get another high point in October. So you would want to list your home sometime mid to late September. And then again in December, we’re getting another high point. So if you wanted to list your home around Thanksgiving, and through the holidays, you know, this would be a good time, another good time to list your home for for a quick sale.
Now, if you’re looking to truly maximum and over here as well, if you’re looking to truly maximize the dollar value that you get, that you can get for your home, your return on your investment, you’re going to want to list your home at a time when there is not a lot of other listings. And that is going to be in the January February timeframe in September. And in November because we know there’s still buyers out there at that point, but there’s not as many listings because why? Because everybody thinks you’re supposed to list your home in June and July and August. But remember, that’s not the case, because this is when they’re closing, not buying. This is when it’s trending downward. This is when we list this is when we this is when we list and sell this is when we close.
So if you are wanting to get a deal, then your deals are had when these when these high points start trending down. So your deals are in July, August and first of September. Your next deals are at the end of October around in November around Thanksgiving. And at the very beginning of the year in January, if there’s anyone that didn’t that listed and did not sell their home before the end of the year, those homes in January could be purchased for a great deal.
So I’m sorry that I went on and on on that. But I really wanted to dig into that because I know this is a huge question that everybody has. I get asked this over and over and over again and there is clear data to help you decide when to sell when to buy it’s very predictable. If you have any additional questions about this or when you start prepping or what you should do to your home to get it ready. What buyers are actually looking for and we’re willing to pay more for please give us a call. Reach out to us next time our town calm.