Tennessee Real Estate: When Is the Best Time To Sell Your Home?

Did you know in 2021 there were 6.9 million home sales in the United States? Another great stat is that only around 2.3 percent of homes take more than 90 days to sell.

You don’t want to lose out on profits because you weren’t well-informed. Listing at the right time is imperative, but how do you know when is a good time to put your property up for sale?

In this article, we are going to discuss everything you need to know about selling your Tennessee real estate.

Best Time to Sell

The Tennessee housing market is doing well. The average time a house in Tennessee is on the market is 71 days. That is below the national average.

Ask yourself this question before you list your house: do I want to sell quickly or do I want to sell for the highest price?

June is the best time to sell your home if you need to sell it fast. Listing your house in January isn’t ideal. It will likely take you 23 more days to sell than if you list it in June.

The longer your property is on the market, the harder it is to sell. A quicker sale will also relieve a lot of stress and anxiety that comes with having your home sit on the market.

March has a median sale price that is 6% higher than the yearly average. If you sell in July you can expect a lower price, likely because it’s the peak of summer and many families are traveling.

For a long time, the housing market has been affected by family life and the school year. September seems to be a month to avoid when selling your real estate in Tennessee. With the holidays approaching and school starting, most families have settled down.

If your property isn’t in a family neighborhood but more in a busy city or downtown area, the school year might not affect the market as much. Remember, potential buyers might have a similar lifestyle as you if they are looking to buy your home.

Always keep an eye on the market. A spike in the market isn’t unheard of and they are hard to predict.

Staging and Photography

Staging your home for showings and open houses may seem like a small detail that you ignore, but it can make a huge difference. You can hire a professional to come to replace your furniture and decorate it in a way that will appeal to all buyers.

You can stage your home yourself, too. The important thing to remember is to pick up so no toys or other items are laying around. Taking down personal ideas is recommended, too.

Hiring a photographer who has experience could prove to be helpful. They will know the right angles and will be able to highlight what appeals to buyers.

Doing this step before you are ready to list is ideal. If you are waiting to sell your home in the prime month of June, have someone come take photos in February or April so you have them all set and ready to go.

First Impressions

If you are ready to sell your Tennessee real estate, consider pressure washing your driveway and the outside of your home. When you meet someone for the first time and they make you feel welcomed, you are more likely to talk to them longer or hang out with them again.

The same thing applies to selling your home. When a potential buyer pulls into your driveway, you want them to feel welcomed. Consider pressure washing the outside of your house and staging it with flowers to help create a good first impression.

Pricing

Before listing your property, research Tennessee real estate data. Look at other homes in your area for sale and compare prices.

You don’t want to list your home too low and lose out on profit, but listing your house too high will mean a long time on the market and potential profit loss, too.

Are Upgrades and Repairs Necessary?

Unless someone is looking to buy a fixer-upper, they probably don’t want to buy a house that requires a lot of repairs. Broken gutters, holes in the wall, wobbly door handles, and other minor issues will take away from your home value.

Upgrade, however, may not be necessary to sell your house. If your house isn’t in the current style, a renovated kitchen or bathroom might get you an ROI. But those projects take a lot of time and if you are trying to sell your house quickly, small repairs will do.

In the slower months, the time you don’t want to sell, slowly start fixing things up. Once they are done, you’ll be able to list as soon as the market is ready, and you won’t be scrambling around trying to get those things done at the last minute.

Talking to a real estate professional could also be beneficial. They will be able to advise you on what needs to be changed or if it will remain as is.