I want to sell my house to buy a new one. I originally bought it for $167k and it can sell for $270k. However, with the new mortgage interest increases, I’m hesitant about the timing. I’m afraid it will sit on the market a long time. I’ll be living in my house while selling it and will use the sale money for my new home. Any opinions on this? I’m in Texas. TY!
As someone anxiously waiting for homes to come up for sale, I would do it now. I would list in the middle of February. In my area, an influx of homes hits the market in March, so I’d want my home out there first.
Ask your listing agent when the spring market starts to pick up. Listing agents will almost always say ‘now is the time to list’, but rephrase the question to get a clearer picture.
This is going to be based on a lot of factors depending on your motivations and local market trends. My market peaks in closings around May, so waiting could mean missing out on buyers.
Thank you for this advice!
How do you know you can sell it for $270k? I guess you’ll find out.
This was based on the CMA.
Don’t trust it. Often agents boost the CMA to get your business. It’s not an official appraisal.
Determine how long homes are sitting on the market in your area. If homes are moving quickly, that’s a good sign.
It’s taking about 35 days in my area.
Days on market matter less than price. I wish I had listed in late February to be first in my neighborhood. Start early if you want top dollar; buyers are picky right now.
Honestly, 35 days isn’t bad!