Choosing the Right Time to Sell Your Home in 2023
There were times in the past few years when it seemed like the seller’s market would never slow down. Even unstaged, dated homes received multiple offers. But, as inflation grew and mortgage rates increased in 2022, this market shifted. Sellers began to see some buyer hesitancy.
So, When Should You Sell Your Illinois Home?
In 2023, the housing market should return to something resembling the established seasonal trends that were disrupted by the pandemic.
That means a hot spring market, continued activity through the summer as people try to get settled in new homes before the school year begins, and a cooling as we move toward the winter holidays. Buyers are generally less enthusiastic about touring homes in Illinois’ winter weather than at more temperate times.
While your property will likely get the most interest if it’s listed in those busy spring and summer months, there are always homebuyers looking to move as soon as possible. The key is connecting with the buyer who is a perfect fit for your home.
Let Your Mainstreet REALTOR® Be Your Guide
Preparing your home to sell can take a while. You may want to make some repairs and renovations to enhance the value of your property. Consult with a Mainstreet REALTOR® before starting work, as some home improvement projects are more likely to pay off than others.
Your Mainstreet REALTOR® will also be aware of the hyperlocal trends in your neighborhood, and can advise you on how to best market your home depending on the season. In the more active spring and summer months, they might recommend a strategy with more open houses, to reach a high volume of house hunters. In the fall and winter, it might be more about connecting with colleagues to find out about any buyers who are eager to close by a certain date.