The 2021 Housing Market bubble has been projected to burst a few times over. Currently, the demand continues to meet the supply.
The Los Angeles 2021 housing market, despite the numerous setbacks (Covid and barely tameable wildfires), seems to be on the up and up with each passing month. The median selling price is reportedly up nearly 10 percent since the previous quarter, averaging around $1.75 million for the luxury market.
Overall, we are nationally operating in a seller’s market. Naturally, if you have been contemplating selling your home, the question that you may have is: When precisely is the best time to sell my home? In short – now. In more detail- it depends.
The real estate market is a circle of economics. People evolve, and families either grow or disperse. If more family members are added to a home, a larger space is needed, so there lies the need to sell and purchase. If milestones such as becoming empty nesters or similar happen, there is a need to sell and buy – downsizing. In other words, the time is always right for buying and selling in Los Angeles.
The time to sell your home comes explicitly down to the state of the market. Many factors contribute to whether or not the market is thriving, including the local job market and available tax incentives. But, depending on the goal of the sale, it can be a little more specific.
Is The Goal Of The Sale To Meet Or Exceed Your House’s Worth?
The value we place on our things, our house included, is priceless. Except, when handling a monetary transaction, a precise number amount is required. In the housing market, a few factors play a part in the appraisal amount of the home: curb appeal, repairs, and of course, the state of the current market. A market that is teeming with inventory is bound to yield a higher appraisal.
Additionally, according to historic trends, the listing time affects the ability to get your home sold for the best price. For California, trends show that June is the best time to sell your home for more money. Since the list-to-close process is estimated to take about 2.5 to three months, March will be the ideal listing time.
Are You Looking To Sell Your Home Fast?
A peak sales price is an apparent interest, but sometimes the process calls for speed. In cases where you are selling a home with a mortgage and simultaneously purchasing another, understandably, the goal is to wrap the selling process up as quickly as possible to avoid double-dipping in your finances. Based on historic trends, the best time to list your Los Angeles home for a fast sale is in May.
Naturally, the specific months above are not etched in stone, and each housing transaction is unique on its own. The best way to determine that your sales goal is met when selling your home is to partner with an expert real estate professional and establish a plan of action.
If you are in the Los Angeles market to sell your home, contact The Suarez Team today for expert guidance on selling your home.