Timing is everything when it comes to selling your home. Knowing when to list your property will give it the right exposure, increasing your chances of attracting your target buyers and maximizing profits from the sale.
Finding the right time to list your home can be a challenge if you’re not familiar with your local housing market and its seasonal tendencies. Read on to get more acquainted with this essential aspect of the home selling process.
An overview of the East Bay region and housing market
The East Bay region comprises more than 50 cities, towns, and communities belonging to the counties of Alameda and Contra Costa. It is home to esteemed companies and major league sports organizations including Pixar, Kaiser Permanente, the Golden State Warriors (NBA), and the Oakland Raiders (NFL).
Not only does it feature high-profile residents, the region is also known for having the luxurious homes to meet their standards. Some of the priciest properties in the US are found here. The San Francisco Chronicle’s online news affiliate SFGate.com reported that in 2018, the three biggest home sales in the East Bay went for as high as $12.250 million (located in Orinda), $12 million (Fremont), and $7.8 million (Lafayette).
Properties located in the affluent areas of Blackhawk, Danville, and San Ramon also sell at a significant price. According to the most recent Bay Area Market Report by Compass, a home in the master planned community of Blackhawk will typically sell for around $1.7 million.
Another Bay Area Market Report reveals that luxury homes in Danville are priced at around $2 to $3 million, with some homes even selling as high as $4 million and above.
Contra Costa County is currently an extreme seller’s market for luxury homes. ThisWall Street Journal story states that inventory ofluxury homes is low, whereas demand remains high. Once Contra Costa County luxury homes become available, they are quickly purchased within a month or two.
Understanding the best months to sell in the East Bay
The busiest home selling seasons in the Bay Area are typically the spring and in the fall.
May is known for being the best month to sell a home and it shows. According toCompass, the average number of days an East Bay home stayed on the market during May was only 17 days. For listings in Contra Costa County, the average is 18 days on the market during this month.
This is a marked improvement from numbers indicated in Compass’ market reports from the start of the year. In January 2019, homes for sale lasted 27 days on East Bay listings and 37 days in Contra Costa. By April 2019, these markets began to exhibit more movement, with listings selling within 19 days throughout the East Bay region and 20 days in Contra Costa County.
An article from Curbed San Francisco also reveals that April is a good time to sell if you own a home in Alameda County, one of the top three counties in California – joining San Francisco and San Mateo – that had the highest sales in April.
Unlike many other housing markets in the US, the East Bay real estate scene tends to take a dip during the summer, before bouncing back around fall. Mid-September to mid-November are a productive time for East Bay home sellers, albeit lasting for a shorter period compared to the spring selling season.
Home selling tips to help you maximize your profit
Want to make your home bring in big money during selling season? Here are five tips to keep in mind.
Make the necessary repairs early
Set a realistic price
Pricing can make or break the sale of your home. The right price will attract more attention from serious buyers compared to an unrealistic price tag based on personal bias toward the home.
To set a reasonable price, compare similar homes in your neighborhood – those currently for sale, as well as recently sold properties. Even listings that were pulled off the market can provide important insights – specifically things you should avoid when you list your home for sale.
Create an effective marketing strategy
Maximum exposure is key to home selling success. An effective marketing strategy in today’s real estate market should combine traditional marketing approaches and digital strategies. Some of the best marketing strategies used include social media campaigns, virtual tours, and posting your listing on real estate websites.
Invest in high-quality images and video
Make the most of today’s ubiquitous online and social media resources to expand your marketing reach. Catch attention on these platforms with high-quality photography and even high-definition videos that showcase your home in its best angles.
Work with a seasoned real estate expert
Experienced real estate agents are a huge advantage in the home selling process. Their expert knowledge of the local housing market will help you decide on the right pricing, the essential steps to make it appealing to buyers in your area, and negotiating toward the best mutually agreeable price.
Even the smallest repairs make a difference in your home sale. Simple fixes such as repairing dripping faucets, touching up chipped paint, and sprucing up your front lawn ensure your buyers that the house is move in-ready.
Looking for more tips for selling your house in the East Bay? Get in touch with us, the Chawla Real Estate Team, at 510.406.4836 or via email at JouJou(dotted)Chawla(at)ChawlaRealEstate(dotted)com.