Best Time to Sell a Home in Los Angeles
Before putting a home on the market in Los Angeles, it’s important to strategize. Surprisingly, certain months of the year leave sellers with homes that linger on the market and eventually sell for less than average prices, while during other parts of the year homeowners enjoy quick, lucrative sales.
For example, after analyzing sales data from 2014 to 2018, it’s clear that January is a slow time for the real estate market in Los Angeles–where other months are much more popular. Homes stayed on the market for 34 days longer than average in January of 2018, while in September, homes sold nearly 5 days quicker than average. September was also one of the fastest months of the year to sell a home in 2017, when listings closed 9 days faster than average. With that being said, it generally takes about two months from list to close in Los Angeles, so home sellers should consider listing their home now if they want to reap the rewards September has to offer.
Holidays and vacation months play a huge role in how much a seller can fetch for their home as well. Sales data from 2014 to 2018 shows that generally May through October sellers are able to sell their home for a better price than September through April. In those four years, July was the best month; sellers closed on their homes at prices that were 4.55 percent higher than homes listed before May. In the same four years, January was the worst month. Homeowners sold their properties for prices that were 5.82 percent lower than average.
Plenty of other considerations factor into how much a home in Los Angeles can sell for and how fast. Listing price plays a big factor in LA and prices will vary neighborhood by neighborhood. This is why choosing a top agent will have an impact on the value you attain from your home sale.
Many successful real estate agents recommend staging a home, or strategically designing a home to make it more appealing to a potential buyer. While a professional stager can be expensive, many of their tricks can be recreated by homeowners themselves. For example, a deep cleaning will go a long way to help a potential buyer envision themselves in your space, as will depersonalizing some of the décor. Without family pictures and awards, prospective buyers can focus on the space itself rather than its current occupants.