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HOUSING MARKET

Familiarize yourself with current market trends to help you be the expert in your home.

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Recently Sold

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days on market

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Here are the most frequently asked questions about selling your home

Generally, the real estate market tends to be more active in the spring and fall. However, this is not a fixed rule, as other aspects can influence the process. It would be best to consider other factors affecting demand and prices, such as interest rate changes, inventory, new government measures, migration, employment etc. Moreover, personal situations play a massive part in consideration. The best time to sell your home is as soon as you are ready to move.

A property assessment is different from your home market value. A property’s assessed value is not necessarily what the home will sell for but rather the rate at which it will be taxed. A home’s market value is the price a buyer is willing to pay or a seller is willing to accept for a property. When determining a market value, various metrics are used, including comparable sold properties, property features, location, lot size and other property details.

The kitchen is the most important room when it comes to valuation, and it can make a significant impact on the value. The second most important room is the bathroom. You will also see an increase by replacing the flooring. Consider installing hardwood, refinishing the hardwood floor or adding carpet and engineered laminate flooring. Tile is always preferred over laminate in the bathroom. Consider updating the cabinet hardware, light fixtures, countertops and faucets.

Staging will make your home stand out in photos, make it feel much more attractive in person, allow potential buyers to visualize themselves living there, and ultimately get you a better price for your home. In some cases, light staging and accessorizing may be enough. In other cases, bringing furniture for the more prominent areas will work best. Consider declustering and removing extra items and furniture before putting your house on the market.

Make sure your home looks as clean, neat and decluttered as possible. Turn on the lights, open the blinds and curtains, and consider turning on soft music. It’s a good idea to remove pet items, make the beds and do a light cleaning. Buyers will often open up closets, cabinets, pantries and fridges too. Lock up or remove any valuables and secure important documents in the home.

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