Most real estate agents will tell you that spring is the best time to sell your home, but that can vary widely from market to market. Yes, spring is usually best, but spring in West Virginia is much different than spring in Florida. Understanding your local market and the seasonality of real estate is crucial to getting the best price for your home.
Spring is best for several reasons and, like most things in real estate, comes down to schools. The typical pattern consists of the school year ending by late spring, with sellers looking to get their home on the market shortly before. This way their kids will be able to finish the year in their current school, and they will have time to move to a new home before the next school year begins.
Demand is high in the spring for the same reason, but also because this is when most homes are on the market. The increased supply and demand often creates a hot market and results with homes being sold fastest this time of year.
This logic is easily seen in the available data. According to Zillow, over the last five years, home listings are highest during the months of May and June. In fact, prices jump by an average of $10,000 and time on the market also falls from around 140 to 80 days as well.
A wise seller will seek the advice of a local, experienced real estate agent to not only better understand the seasonality of local market conditions, but to also learn how current interest rates, regional economic growth, and other factors are affecting their local real estate market.
Key Factors That Help Homes in West Virginia Sell Faster
Knowing your community and adequately showcasing the best parts of your property are key to selling fast. Make sure you adequately prepare your home for sale, increase its value, and showcase the best features to potential buyers.
Properly Clean and Stage Your Home
Buyers don’t want to walk through a dirty home. Take the time to thoroughly clean and organize your space and be sure sellers can quickly note the highlights of your home. If it is unoccupied, taking the time properly stage your home will help potential buyers imagine themselves living there.
Consider the Color Scheme
Sprucing up the interior and exterior paint job will make your home more inviting. Try to avoid using bold colors and opt for neutral tones. Light colors can be more inviting and make spaces look open and bigger. White and neutral colors also portray an open template that makes it easier for buyers to imagine how they would utilize or decorate the space.
Know Your Local Amenities
West Virginia has plenty of great cities and a beautiful natural landscape. Make sure your marketing points out that scenic view or highlights Morgantown is a thriving college town. Highlighting walkability to local attractions and other cultural events will draw even more interest in your home and bring buyers interested in your neighborhood’s amenities.
3 Tips for Maximizing Your Profits When Selling a Home in West Virginia
1. Consider Your Specific Market
Remember timing is crucial and having your home on the market at the right time will lead to the best price and fastest sale time. Understanding seasonality, current market conditions, and highlighting the amenities in your community are crucial to making an accurate valuation and setting the optimal listing price.
Is the economy growing and population increasing? Local economic indicators are the strongest drivers of the housing market and regional differences can often be quite a difference. You can usually expect that where jobs are increasing and redevelopment is occurring that home prices will continue to rise.
In other communities, the market may fluctuate more in-line with the overall macroeconomy. However, rural and secondary markets can also provide more opportunity to uncover hidden value, or better deals, if you can accurately target the right buyers. An experienced, local agent can add much value in determining those factors.
2. Make Meaningful Repairs and Renovations
The seasons can be extreme in West Virginia and taking the time to do essential repairs and renovations can make a huge difference. Consider cost-effective ways to increase the value of your home and get it sold faster and for a higher price. Beyond the big items, minor updates and repairs will boost the initial appeal of your home to potential buyers.
Buyers want to imagine themselves in your home, which means uncluttering your house in the renovation process and opening up each room. Highlight your home’s attributes in thoughtful ways and utilize light or neutral colors to make rooms inviting. This will also portray a simple template that allows potential buyers to imagine how they would utilize this space.
3. Find a Great Real Estate Agent
Maximizing profits on a home sale requires more than just timing the market. You need to ensure you’re doing everything to get the best possible price — and to uncover cost savings opportunities — throughout the entire process.
Working with a local, experienced real estate agent will guide you through the process and allow you to take advantage of timing, local market conditions, and showcase what buyers want. Clever Partner Agents are all top-rated in their local markets, they’re full-service, and they come from major brands and brokerages (Keller Williams, Century 21, RE/MAX, etc.).
If you’re looking for a local, full-service agent from a major brand that will list your home for a flat fee of $3,000 or 1% for homes over $350,000, Clever can help. Clever Partner Agents will walk you through the process of selling your home, while uncovering opportunities for savings and boosting the value of your home.