That's right. The best day of the week to list your log cabin in Gatlinburg or your home in Sevierville is on the day that ends with a "Y". All joking aside, according to Redfin, Friday is the best day to list your home. Properties that are listed on Fridays have offers, and close, at prices closest to the original asking price. They are also the homes with the least amount of days on the market, 81 to be exact according to Redfin's analysis of 2012 homes for sale. Conversely, Sundays have the lowest rate of success for getting the best price and average days on the market.
What is so special about Fridays? Well, you tell me. If you are a M-F professional, what day of the week is your mood typically the best? F-R-I-D-A-Y! When buyers get ready to view properties it is typically at the start of the weekend. The last thing a good Realtor is going to do on Friday night, or even early Saturday morning, is check the MLS again for newly listed properties. You want your home on that list.
If You Are Waiting For Spring You Are Missing The Boat
If you read the chalkboard above, "The right time to list your home is dictated by the market & not the season." There is much truth in that statement. Typically, most real estate markets will see an influx of listings in their MLS during the middle to end of Spring so they can sell their homes in the Summer. While this may be conducive to moving your family, it could cost you thousands on the price that you ultimately take for your home.
To say that the Real Estate Market is stronger than it has been in years is risky. BUT, the signs and trends over the last 6 months are proving that very point. One strong indicator is the current inventory of homes for sale in the Gatlinburg, Pigeon Forge, and Sevierville area. The inventory is low. When the inventory is low and the demand increases, as it will come Spring, prices tend to rise. You may think to yourself, "If prices are going to rise then I will wait so I can get more for my home." Well, the problem with that logic is the amount of competition you will have come Spring/Summer by waiting.
Interest rates continue to stay at all time lows. How long will they stay this low? It is anyone's guess, but most economists are predicting a rise soon. Albeit a small one most likely, but a rise is a rise.
For the first time in a long time, new construction is gaining some steam. There are more new homes that are listed, or builders willing to build custom, than there have been in years. It is very hard to compete with new construction when a buyer can build a home to fit their exact needs and wants, for close to the same price as the home you are selling.
These are just a few reasons why waiting to list your home in East Tennessee could me a mistake. If you are thinking about selling your log cabin or home in the Smokies and would like a free evaluation of what your home is worth then please contact me or fill out the form below.