I’m thinking about selling!  When should I list my home?

Like several dimensions of the real estate game, determining when you should list your home is both an art and a science.

The art comes in when you work with an experienced Realtor who has knowledge of the local market, knows your neighborhood and understands the ebb and flow of home sales.  The science part of your decision is easier, because a Realtor tracks the data on how long it takes -- in general -- for homes to sell on a monthly basis.

According to the National Association of Realtors, the median time on market for all homes was 93 days in September 2013, little changed from 92 days in August, but 10.58 percent faster than homes were selling in September 2012.

You can see updated data on the realtor.com Monthly Real Estate Trends Report that tell you what the median age is for listings in your area.  It also tells you whether homes are selling faster or slower than in the previous month and during the same month in the previous year. You can also ask a Realtor what the average time is for a home to sell once it’s listed in your community. 

Remember, though, that statistics only look at the broad picture and won’t be exact in predicting how long it will take to sell your particular home.

There are several points to take into consideration about timing your listing date. Consult with your Realtor about these points:

Condition and Price

Remember, in order to sell your home as quickly as possible, it needs to be in the best possible condition and priced appropriately when it hits the market. If you want to move in three months or six months or even in one month, start working on your home now.   As in...today!  Come up with a good game plan.  Give yourself a "to-do" list with reasonable expectations, and simply work through your list. 

You need to compete with the buyer expectation of finding a “move-in ready” home!  This means your home needs to be as clean as possible, neutralized in terms of your décor and as "clutter-free" as possible.  The length of time it will take to get the home ready for sale depends on whether you’ve kept up with regular maintenance.  It may also depend on how willing you are to admit that "most" people will not find your magenta and black striped bedroom as appealing as you do!   

If you can rid your closets and other storage areas (like the pantry, linen closet, etc) of all things you're not currently using, or things you've been storing.  Those areas will appear neater, spacious, and tidy.  That's the idea!  Potential buyers will gauge their "stuff" (where they would put it) by how much "stuff" you have....And you always want them to think their "stuff" will fit comfortably and neatly in the designated storage areas or closets.  Buy some large totes, then label and fill them with non-essential clothing, sheets or towels.  Store the totes in a corner of the garage!  It will be nice when you move as well; those totes are already packed for you.   

On the pricing side, an experienced Realtor can share a comparative market analysis of homes that have recently sold in your area, the current competition, and homes that have been taken off the market. Keep in mind that if you overprice your home at first, it will likely take longer to sell and even at a lower price.  This often occurs because potential buyers perceive it as "sitting" on the market for too long.

Think About the Season

Traditionally (as realtor.com has informed buyers in other articles), the spring market is the most robust for home sales, which then slow down a bit in the summer, pick up again in the fall, and slow down again around the winter holidays. This doesn’t mean you should only sell in the spring, but you should think about the fact that fewer buyers will be looking for homes between Thanksgiving and New Year’s. On the other hand, you may have less competition from other sellers in "off" times, which is definitely a good thing!  The fact of the matter is, today, people need to buy and sell homes in all seasons due to job relocation, school considerations, and just life in general.  You need to bring your best "product" to the market despite season, so make sure your project list is complete before introducing your home for sale. 

Negotiate

Everything is negotiable!  You can negotiate with your buyer to establish a settlement date that’s convenient for you both, or you could negotiate to rent back your home after closing, for example, should you have to delay your move.  Regardless of when you put your home on the market, you should always have back-up plans for how you’ll handle the situation if your home lingers on the market longer than you anticipate or, better yet, sells very quickly!