With Zillow showing that the market appreciated by 6.3% in 2018, the Raleigh-Durham area is a very hot market. The median listing price was $300,226, and the median sales price was $214,300. That said, what would be the best time of year in which to sell?
According to the graph of sales, they're high throughout the winter. Putting a home on the market in October and utilizing the top realtors® in Durham is a smart move. Before or during the winter, people coming from the cold northeast will want to relocate to a warmer climate as the weather worsens and the cold begins to chill their bones.
The average days on the market in Durham is 61, so allow two months to take your home from the changing colors of autumn to the mild winter season. Inventory is usually low in winter; buyers are still out there looking at homes. Your home may be just the escape that they need from the chills of northern winters.
Less Optimal Time
Although spring is usually a beautiful time of year with Durham blossoming, it can mean less when it comes to selling a house. There are abundant homes on the market as winter is over and everyone thinks of selling. However, if you're selling your home and are not a buyer, you'll have lots of competition, making it a buyers market. To get top dollar, listing it in March is not to your advantage.
In Durham, according to the U.S. Census, the population was 228,354 in 2010; in 2018, it was 267,743, growing 17.2%. This shows that this city is a desirable area, and housing in Durham is growing because more people are moving here. This is part of the reason that Durham is considered a "very hot market" by Zillow.
You may think that spring is the best time to sell your home, but when looking at the numbers and reasons why people decide to relocate, emotional factors should also be considered.
With Effect Agents and their plan to market your home that includes advertising, pricing strategy, access to professional photography, strong negotiation skills, and more, selling your home in Durham will be made quicker and easier, whatever the season.