Real Estate News – June 2022
Posted on June 17, 2022 .
Newsletter: Real Estate News - June 2022, brought to you by Sarah Marrinan
When is the best time to sell a home in MN?
When you’re selling a home, it’s in your best interest to maximize the sale price any way you can. In addition to choosing the right listing agent, one consideration that many people tend to overlook is the time of year their home is on the market. While the Minnesota real estate market typically enjoys steady home sales throughout the year, there are certain time periods that are optimal for selling. Learn the best time to sell a house in Minnesota and boost your potential earnings.
When to Sell?
Late spring and early summer is the best time to sell a home, regardless of a homeowner’s location in the country. The difference for Minnesota and surrounding Upper Midwest states is that there is a shorter window of pleasant weather to spur home sales, so sellers should make sure their home is ready for a sale during this crucial time of year. After a long winter, the increased daylight and clear days are ideal for drawing large crowds to open house showings.
So, the question is, what dates should sellers mark on their calendars? The warmer months from the spring to summer are some of the best times to sell a home in Minnesota. More specifically, May is one of the best months to sell quickly — and for the most money. In fact, homes sold from May 1 to May 15 have historically sold 18 days faster than the average sale for a year. This is a time of year when there are more buyers on the market, which drives competition on bids for homes.
Who is Buying?
When the weather warms up, people tend to be on the move — whether for work, school, or just a change of scenery. That means there are more people doing cross-state or even cross-country relocations who need a home fast. When a person is crunched for time, his or her priorities change. They may be more willing to spend extra for a home they love if they can get it in a timeframe that works for them.
Another group of people to consider for spring home sales is buyers with children. The transition between cities can be tough on kids, so parents often try to make the change as seamless as possible. Moving in late spring or early summer gives the family some time to adjust to their new home and neighborhood before the school year begins. Take this into consideration, especially if you live near a local school.
What’s the Lure?
Everyone has different reasons for moving after a long Minnesota winter, but certain factors make homes look and feel more attractive in late spring. This time of year flowers are blooming, the grass is green and trees are budding. In other words, even if your home has minimal landscaping, it will look much lusher and more inviting than it does in the barren winter months. However, if you’re looking to up your landscaping game, check out our blog on 5 Essentials Tips to Sell Your Home!
Perhaps as a result of the weather making homes look better, home appraisals also tend to be higher during the month of May and into early summer. It only takes two interested buyers to start a bidding war, which means more money in your pocket when the sale is final.
Get Started
To get the most out of your home sale, it pays to get strategic. While spring may statistically be the best time to sell a house in Minnesota, it’s possible to meet your asking price any time of the year. To increase your chances of a successful sale, it’s well worth taking the time for staging your home. Read Sarah's blog post, “Targeted Home Staging” to bring out all the potential in your property. If you’re considering selling, reach out to get some more information!
Twin Cities Market Stats Thru May 2022
Posted on June 17, 2022 .
Twin Cities Market Stats Thru May 2022
Is it the right time for you to sell your home?
Posted on June 17, 2022 .
Determining the best time to sell likely requires you to reflect on your home and lifestyle. Certain months may have stronger market activity, but what really signifies if you’re ready to sell are the following personal indicators: Read More
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