The Importance of Getting Your Property Listed Earlier
What is the best time of year to list my property?
There was an article written, years ago, by the Star Tribune that identified May 12th as the day to have your home on the market; that date was optimum for getting the best price. So, most people have the expectation that if they have a property listed in the late spring or early summer, that is best.
It’s a little bit different with duplexes. We’ve actually found that the last 6 years in a row, people have gotten more for their property if they have it listed somewhere between February and April, than they would the rest of the year. It spikes in the late winter and early spring because there are so many people out there looking to buy. You must take into consideration who the buyers are when you're looking to sell a multi-family home or investment property.
With multi-family properties, the potential buyers often are renters.
If they don’t buy a property in the early part of the year when their lease comes due in the summer, they’re going to have to renew that lease for another year. That is why you’re seeing so many people buy early in the year and then the number of buyers lessens later in the year. It’s different that what is typically seen with single family homes.
If you have a duplex or multi-family home you’re interested in selling, it is very important that you get it listed early in the year when there are significantly more buyers looking than any other time throughout the year.
Feel free to reach out if you have questions or if you’d like to learn more and we’d be glad to help.
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