When is the Best Time to Sell Your Lake Martin Home?

by: The Haynie Team

2 years ago

1325 views

A well-lit bedroom with a large bed, light gray walls, two bedside lamps, an upholstered bench at the foot of the bed, and three framed pictures above the headboard. Large windows with views of Lake Martin flank the bed.

Now that we’re inching toward the summer season and the real estate market has certainly been heating up, you may have heard that now is a great time to sell your Lake Martin home.

There are indeed more buyers in search of properties in Alabama, home prices are rising, and landing top dollar is not so uncommon anymoreâ€” but just remember, timing is everything!

The assumption that spring is the proper time is not always accurate. Below are four things to consider if you’re ready to sell your Lake Martin home.

Spring isn’t always best
Many believe that spring is the best time to sell your home, however according to Realtor.com, “one recent study found that sellers typically net more above asking price during the months of December, January, February, and March than they do from June through November.”

One reason for this is that the spring buying season typically means you’ll have more competition from other sellers, and in turn, price your home more aggressively to attract buyers.

Mortgage rates matter
When mortgage rates are on the rise, buyers may tend to stay on the fence. And on the flip side, when rates drop, more people tend to buy homes. As a seller, keep an eye on mortgage rates to be aware of changes in the local market.

The condition of your home
Your home on Lake Martin will need to show well if you’re going to attract buyers in a busy market. This means it’s time to tackle those repairs and home projects to make sure the property is in tip-top shape. Everything from painting to plumbing repairs can ensure you pique buyer interest among your competition.

The local economy
You’ll also want to keep an eye on the local economy to determine the best time to sell your Lake Martin home. According to a Realtor.com analysis of annual price growth rates, “a homeâ€™s value generally increases 3% to 4% a year when the economy is strong, driven by inflation and natural population growth. From 2011 to 2016, the national housing market was recovering from the bubble at a slightly higher speed: 6.3% a year, on average.”

Questions about selling your home on Lake Martin? Give The Haynie Team a call! We’d be glad to help you navigate the process!

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The Haynie Team

Experienced Lake Martin Realtors and full-time Lake Martin residents, Becky and Howard Haynie are at Home on Lake Martin. Listing and selling Lake Martin properties, they have an in-depth knowledge and understanding of the Lake. Together they form the Haynie Team and are affiliated with Lake Martin Realty, a Russell Lands Company, providing a unique and diverse approach to listing and selling Lake Martin properties. As full-time residents of Lake Martin, they appreciate the qualities of Lake Living and understand the motivating factors for Buyers and Sellers. Becky and Howard’s marketing theme is “Home On Lake Martin”. They work to ensure that their clients and customers can “Relax” in regards to real estate matters, and enjoy the Lake Martin experience. The Haynie Team is, at Home On Lake Martin, and Becky and Howard look forward to seeing Ya’ll Around the Lake! Relax… let the Haynie Team work for you!