If you’re ready to sell your Michigan house, when should you list? Timing the market can lead to better offers. Of course nobody wants to move in the middle of a Michigan winter, but there are other factors at play.
Seasonal fluctuations in demand will how fast you can close and when you’ll get top dollar. But timing the market is a skill learned over years of experience. The first step for any Michigan home seller is partnering with an experienced, local real estate agent. Still it never hurts to educate yourself about the basic factors impacting the best time to sell a house in Michigan.
Best Time to Sell in Michigan
This year is an excellent time to sell your home in Michigan. According to Zillow data, home values went up 8.5% in 2018 to a median home value of $151,700, and are expected to rise another 5.0% in 2019. Depending on when you bought your home, it could be worth significantly more.
The Federal Reserve has already announced that they won’t raise interest rates in 2019, which is good news for home sellers. Rate hikes impact housing demand because they feed into mortgage loan interest rates, so higher rates tend to keep people from buying homes.
When it comes to seasons, spring is a great time to sell your home in Michigan, because sellers usually receive hire sale prices during these months. Tax refund season can also give home sales a nice boost, as buyers add their tax return to their down payment funds or use it to cover closing costs.
But wait until all the snow melts! Wet and muddy front yards don’t make for great curb appeal, and it’s hard to clean your floors after every showing.
If you can, hold off on listing until after daylight savings; more daylight hours translates into more time for showings. An experience real estate agent will be more than willing to put in the extra work.
Key Factors That Help Michigan Homes Sell Faster
In a colder climate, an efficient heating system will be a selling point. Have your boiler and furnace serviced before putting the house on the market. Be prepared to answer any questions about your average heating costs during the winter and have past bills to show as proof.
If you’re selling during the fall, stay on top of raking and clearing up any leaves. Clean out your gutters, too. If you need to list your home in winter, keep the sidewalks and front walkway shoveled and lay down salt to prevent falls.
Learn more: How to Sell Your Home Fast in Michigan
3 Tips for Maximizing Your Profits When Selling a Home in Michigan
1. Consider Your Specific Market
Bloomfield Hills, Okemos, and Troy have some of the best school districts in the state, which means that homes zoned for these districts will sell for more. If you live in one of these cities, it will be easier to sell to a family with school-age children. Market and stage your home to appeal to a young family to sell faster.
Do some research into local employers and industry concentrations. Ann Arbor’s top jobs are in education and careers related to the university, while the chemical industry dominants Midland, and Detroit still has a fair number of jobs in the auto industry. Add a list of companies within a short commute of your house on your listing sheet to attract buyers who work for them.
An accurate evaluation of the local market, called a Current Market Analysis, helps you set an optimal listing price. A CMA analyzes the performance of other similar properties in your area, taking their listing price, the number of price reductions, and how long it took for them to sell, to obtains the best price for your house. Working with a local real estate agent will ensure you have the most up-to-date CMA at your disposal.
2. Make Impactful Repairs and Renovations
You don’t need to start a major remodeling project to sell your home, but carefully selected small repairs and renovations can help it sell faster. Many buyers view flooring as a sign of how well you’ve maintained your home.
If it’s not too expensive, have you hardwood refinished or polished and your carpets cleaned or replaced. This is particularly important if they were damaged by winter’s snow and mud. Use the winter and early spring months to make indoor repairs, then head outside and tidy up the yard.
Work with a flat-fee real estate agent who can look at your home without any emotional attachment and make recommendations. Take their advice and don’t get offended their tastes differ from yours. It’s important to balance the return on investment with the cost of any repairs, so if they tell you something is important try to listen.
Learn More: 6 High-Value, Low-Cost Repairs for Home Sellers
3. Find a Great Real Estate Agent
A great real estate agent is your guide through the entire home selling process. Selling for the best price can be a complicated mix of timing the market and prioritizing repairs. An agent can help you pick a listing price that will help your Michigan home sell quickly and find cost-saving opportunities.
Clever Partner Agents are all top-rated sales agents in their local markets. They’re drawn from major brands and brokerages such as Keller Williams and Century 21 and have the best sales statistics in your area. They offer their full services at lower commission rates while providing the same level of support as agents who charge a traditional fees.
After you fill out our online form, a Clever rep will get in touch. They can answer questions and connect you with a local Partner Agent for a no-obligation consultation to help you sell your Michigan home.