Market timing is one of the most important decisions you’ll make when selling your home, along with your listing price and real estate agent. Based on past national and local trends, you can make some pretty good guesses as to the best time to sell. Timing the market just right means your house will sell quicker and at a higher price.
In order to time the market for the best sale, particularly in highly-competitive Southern California, choose to work with a trusted real estate agent. Not only will they know the best time to list your home, but they’ll also know the best asking price, and which repairs will give you the most bang for your buck.
Here’s everything you need to know about the best time to sell your home in Southern California.
Best Time to Sell in Southern California
Nationally, the best month to put your home on the market is on a Saturday during the first half of the month of May. According to Zillow, homes listed during this timeframe sell for an average of $1,600 more than other times of the year. Saturday listings show higher views during the first week of the listing. This is no real surprise — most people have more time on the weekend to spend searching for listings and visiting open houses.
Southern California timing differs just slightly from these national numbers and can even differ based on the specific city within the area.
Typically, the best timeframe to list your home in San Diego is April 1-15. The best day to list is on a Friday. On average, this results in a $7,000 higher sales price with the home selling more than 11 days faster.
The best timeframe to list your home in San Francisco is April 16-30. The best day to list is on a Thursday. On average, this results in a $15,000 higher sales price with the home selling six days faster.
The best timeframe to list your home in Riverside is May 1-15. The best day to list is on a Friday. On average, this results in a $5,000 higher sales price with the home selling more than 11 days faster.
The best timeframe to list your home in Los Angeles is May 16-31. The best day to list is on a Thursday. On average, this results in an $8,000 higher sales price with the home selling more than nine days faster.
Other factors can also affect the best time to sell your home in Southern California. If mortgage interest rates are high, buyers may not be able to offer as much for your home. The local job market or home buyer tax incentives may also affect the market. If you hear of a large employer moving into the area — a big tech company, for example — it would be a good time to list. Trust your local real estate agent’s expertise in this area.
Key Factors That Help Southern California Homes Sell Faster
When selling your home in Southern California, there’s a high probability you’ll be selling to a millennial first-time homebuyer. This demographic is finally making its way to the market and will likely be focused on keeping their mortgage affordable. However, they’ve just got enough cash together for a down payment and probably don’t have much to throw in the way of renovations, so turnkey homes will be top-of-mind.
Southern California has been seeing a rise in purchases in lower value markets, likely for the reasons mentioned above. Since these strapped-for-cash potential homebuyers are looking for a good deal in an expensive area of the country, make sure to work with your real estate agent for the best listing price. Just because you list it low doesn’t mean you won’t get higher offers and ultimately sell your home for more. Plus, you may attract home buyers you wouldn’t have with a higher listing price.
After decluttering, removing all personal photos, and making the space spotless, hire a photographer to take incredible photos of your home. Many of your potential buyers, especially millennials, will get their first impression of your home online and then decide whether or not to attend your open house. You want to impress them right from the start.
3 Tips for Maximizing Your Profits When Selling a Home in Southern California
1. Consider Your Specific Market
Knowing the specifics of the Southern California market will help you sell your home quickly and for top dollar. A comparative market analysis (CMA) by a local agent will give you an idea of the best listing price for your home. This valuation compares your home with other similar ones in the area to give an estimate of the price your home can bring.
Learn More: Understanding a Comparative Market Analysis
2. Make Impactful Repairs and Renovations
As we mentioned before, it’s likely your potential buyer won’t have a lot of extra money for repairs or remodels after purchasing the home. Rather than seeing themselves taking on projects themselves, a looming project may cause them not to make an offer.
You’ll want to tie up as many loose ends as possible to minimize the number of objections for a potential buyer. Work with your real estate agent to determine which projects will generate a higher price increase than the cost of the improvement itself. This could include simple fixes like a coat of neutral paint in the living room, fresh flowers in the flowerbeds, or power washing the front porch.
Learn More: 6 High-Value, Low-Cost Repairs for Home Sellers
3. Find a Great Real Estate Agent
Clever Partner Agents are top-rated real estate agents who are experts in their local markets. They come from major brands and regional brokerages — like Keller Williams and Century 21 — and can help you sell your home at the right time. If selling your home in Chicago, it’s important to work with a local agent. They understand the nuances of the housing market in the area and of potential buyers for your home.
Additionally, Partner Agents offer the same full service as other agents but have agreed to work for a flat fee of $3,000, or 1% if your home sells for more than $350,000. This means the same quality service as other agents, but more money in your pocket.
Complete our online form and a Clever representative will be in touch to answer any questions you might have and connect you with a top-rated, local Partner Agent for a zero-obligation consultation.