If you are thinking of listing your Manhattan Home in 2018 you should get started right now in January! Sales volume usually is strongest in the first half of the year. There are several reasons for this!
1. Bonuses are paid out the first quarter. Buyers wait until they receive their bonuses to start shopping. 25% of Manhattan sales are from the financial sector. Wall Street is enjoying record performances and bonuses are expected to be generous.
2. School decisions are made in February or March so the decisions could cause buyers to move.
3. Most people want to move over the summer. Keeping in mind that a closing takes an average of around two to three months then the optimal time for buyers to go into contract is in the second quarter.
Interview brokers in January. Plan to list in February to late April. Remember to give yourself enough prep time!
While listing your home in the spring use to be the golden rule it now longer applies. Some sellers often list their home at all times of the year because life changes really dictate their moves not seasonality. These lifestyle changes can be the arrival of a new baby and the need for more space. It could be a sudden job change. It could be an estate that needs to pay its taxes or a couple going through a divorce. Buyers are looking on the internet 24-7 so if you can’t list in the spring then don’t fret about listing your home at other times of the year. I have marketed and sold homes successfully in December that is usually the slowest time of the year.
The most important thing about listing your home is actually not the timing but prepping your home before it is marketed. While it takes a lot of time and energy it is very important to get your home in tip top shape.
Make sure you hire a broker that has a very aggressive and creative marketing plan for your home that includes staging, top quality photos and a creative video that tells the story of your home in a very compelling manner. Make sure your broker doesn’t post your listing until all the marketing photos, floor plans and videos are completed! You only get one chance to make a great presentation.
The other key to getting your home sold no matter what time of the year is correct pricing right out of the gate! Your broker will be providing you with a detailed pricing analysis.
Please feel free to contact me with any of your questions about marketing and pricing your home.