When Is The Best Time To List My Home In West Town?

When Is The Best Time To List My Home In West Town?

Dear Greg,

Hi, my husband and I live in West Town and would like to list our home within the next ~18 months. It’s a two bedroom, two bath, 1,200 sq. ft condo. I am looking for some advice on when the best time to list might be – both time of year in general (most likely spring or fall) and related to the current market. I would appreciate any information you can give me. Please let me know if you have any questions or anything.

Signed, 

Prospective Client  

Chicago’s seasons can make a big impact on the optimal timing to list your home for sale. This is how I answered my prospective client’s questions:

  1. The traditional spring market is the ideal time to sell and that starts April 6, 2020 and ends June 30.
  2. July & August are traditionally weak as everyone is traveling. In the last 3-4 years these months have been exceptionally poor. I also think people want to enjoy the summer and not do real estate.
  3. After Labor Day, there is an improvement of the market in September and October.
  4. Then from November through December 31 — this is the absolute worst time.
  5. After January 1, there is a small pickup but it’s still pretty poor.
  6. Then the day after the Super Bowl, which will be February 3, 2020, the “pre-spring” market starts and goes until April 5. There have been some years when the pre-spring was better than the spring market, and other years when it was worse. Of course, it’s very dependent on the weather.
  7. Some of my clients will do prep-to-sell projects and photos far ahead of time. An additional benefit of this is that photos are better when the weather is good and there is still foliage. Then, they can take a read on the market and make a “game-time” decision to go on the market in the pre-spring or wait until spring.
  8. Since your time frame is 18 months, April 6, 2020 is probably your best bet.

Now is a great time to do your “prep to sell,” getting your home ready to maximize the sale

  • Upgrade the “weak link” finish that brings the space down compared to other finishes
  • Handle any maintenance issues — caulk, grout, water stains
  • Paint – no better ROI
  • Upgrade little things that make a big difference like adding Dekor light switches and outlets

You also want to do “prep to sell” on the building

  • Paint the rusted gate & back deck
  • Paint /magic erase the hallways

You also want to do “prep to sell” on a condo association

  • Do you have the meeting minutes and what do they look like
  • Reserves
  • Delinquencies

What I suggest is for us to meet at your home where I can walk through to

  • Give you my prep to sell suggestion
  • Take amateur photos (that would never be shared) so I can do a valuation on your home
  • Discuss a specific approach as to how I think your home should be marketed

Let me know if you are interested in meeting; my schedule is flexible.

I hope that by the quality and thoroughness of this email you see my level of knowledge and the care I take not only with my clients but also with my potential clients.

Greg

Ask Nagel has a great library of tips and articles here:  https://www.asknagel.com/west-town-articles-tools/

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