If your Pennsylvania home isn’t selling as quickly as you’d like, the timing of your market could be to blame. Real estate markets tend to be seasonal, with some times being better than others to sell your home quickly and for a desirable price.
If you’re trying to time the market, a local real estate agent can boost your chances of getting an optimal outcome. The time of year, interest rates, and other factors can impact your home’s selling price and speed, and your agent can give you guidance and insight on all of the above.
If you’re ready to say good-bye to your home, here’s what you need to know about the best time to sell in Pennsylvania:
Best Time to Sell in Pennsylvania
Like many real estate markets across the United States, the best time to sell a home in Pennsylvania is largely seasonal. When temperatures get warmer in May, homes tend to stay on the market for less time. As temperatures start to drop, homes linger on the market longer. Historically, March tends to be the slowest month for home sales in Pennsylvania, though this can vary by region.
Many areas in Pennsylvania experience severe winter weather, which makes potential home buyers hold off until spring arrives.
Aside from seasonality, the federal interest rate can also affect how eager potential buyers are to make a move. Rising interest rates can deter potential buyers, while lower interest rates can entice them to buy.
Pennsylvania’s job market is relatively strong, even though the unemployment rate is slightly above the national average. The median household income is also slightly lower than the national average, which can also affect home prices.
Key Factors That Help Pennsylvania Homes Sell Faster
Right now, Pennsylvania is experiencing a seller’s market, which helps to combat the effects of higher unemployment and lower salaries. A seller’s market occurs when the demand for homes outpaces the supply, which often results in a favorable selling price for the homeowner.
Regardless of the current market, there are a few things that Pennsylvania homeowners can do to help their home sell faster.
One possibility is to stage your home to make it look larger. Homes in Pennsylvania have reached an all-time high of $128 per square foot, so anything you can do to make your home feel larger will help attract buyers. You can clear out closets and get rid of clutter so buyers can see how to best utilize the space.
Also, emphasizing energy efficiency can help you attract buyers to your home. Pennsylvania winters can be brutal, which often means a sky-high heating bill for much of the year. Highlight things like energy-efficient windows, solar panels, new heating system or other features that can help new homeowners save on heating costs.
3 Tips for Maximizing Your Profits When Selling a Home in Pennsylvania
If you want to get top dollar for your home, consider the following factors that can help you maximize your profit:
1. Consider Your Specific Pennsylvania Market
Knowing what home buyers in your area are interested in and how much they’re willing to pay is critical when selling your home. Also, keep in mind that Pennsylvania has the most home buyer assistance programs in the country, which could work in your favor when listing and pricing your home.
Part of your due diligence is to get a Comparative Market Analysis (CMA) that can give you insight into local market conditions. The CMA looks at similar properties in your area and how they’re performing so you can get an optimal price for your home.
Include link: Learn More: Understanding a Comparative Market Analysis
2. Add Value with Repairs and Renovations
Homeowners usually need to make some repairs or renovations to get their home sell-ready. Making your home look like it’s been well cared for can go a long way in attracting buyers. Some areas you might consider:
- Repainting the walls or outdoor trim
- Replacing missing light fixtures, flooring, or outlet covers
- Adding curb appeal
- Upgrading old appliances
Before you start making a to-do list, consider the value that each repair will bring to your home. Ideally, you’ll focus on repairs or renovations that will make your home’s selling price greater than the cost of the repair itself.
Learn More: 6 High-Value, Low-Cost Repairs for Home Sellers
3. Find a Great Real Estate Agent
Getting the most from your home sale takes more than just timing the market. You need to do everything you can to get the best possible price, including uncovering cost savings opportunities throughout the process.
Partnering with a local real estate agent gives you your best chance of achieving an optimal outcome. Your local agent is familiar with your market conditions and can help you set a price that strikes a balance between selling quickly and selling profitably.
Clever has partnered with top-rated, full-service real estate agents throughout Pennsylvania from major brands and brokerages like RE/MAX, Keller Williams, and Century 21, among others. They provide complete real estate services at a discount to help you save on real estate commission fees and keep more of your profits in your pocket.