If you've decided that you want to sell your home in Palm Springs, now is the time to take action. Historically, spring tends to be the best season for selling Palm Springs real estate, and sellers who list in the spring are often rewarded with more competing offers and a shorter sale period.
Here are 4 reasons you should consider listing your Palm Springs home this May.
1. It's Family Friendly
Many Palm Springs home buyers are parents with school-aged children. Moving takes a tremendous amount of effort and adjusting to a new home can take some time which is why summer appeals to so many families as a good time to move. With the kids out of school, the process of packing, moving, unpacking, and getting settled is much simpler. Plus, if the family is making a long-distance move it's nice for the children to avoid changing schools midyear.
2. An Active Market
It's hard to know what makes spring so special, but when it comes to real estate, there's certainly something that sets spring apart from the other seasons. In Palm Springs, spring is when the real estate market comes alive after the slower winter months. Days are longer and sunnier, weather is warmer, and most people are excited to be out and about.
In this season, more buyers are interested in purchasing a home, and for sellers, this can be incredibly beneficial. A larger pool of buyers means that there's a good possibility your home will garner competing offers which will drive the sale value of your property upwards. Sellers can also afford to be a bit choosier about who they decide to sell their home to. While in winter it might be hard to find a buyer who's been preapproved for a loan, in the spring months it can be much easier.
3. An Shorter Sale Period
As a result of a more active market, typically, homes listed in the spring sell for a higher price and sit on the market for a shorter time. In Palm Springs, May is the month to list your home. A study conducted by Zillow indicated that typically when a home is listed between May 1st and May 15th, it sells 18.5 days faster than average. This study also indicated that homes listed in spring also sold for 1% more than those who listed in other seasons. Depending on the price you set, this could be an extra few thousand dollars.
4. Income Tax Refunds
A home is a large investment, and for some buyers, it can be daunting to take the leap into home ownership. The IRS issues income tax refunds between the months of February and August. While for some Americans this sum of money might equate to a nice shopping trip or an extra-large car payment, for others their refund is quite substantial and can be exactly what buyers need to motivate themselves to make a purchase.
For more information about how to list your Palm Springs home on the real estate market, connect with Geoffrey Moore. As an expert in local real estate trends and the Palm Springs area, he can help you price your home for success and make the sale you've been hoping for.