There are any number of reasons why you may want to sell your home in San Francisco. Maybe your family is growing and it’s time for a bigger place, or you’re now an empty-nester, and have too much space? Perhaps your employment situation is changing and it’s time to move to a new city? Or maybe you’re retiring and ready to see the world or head to the beach with a mai tai?
San Francisco housing is always in demand, and there’s rarely a bad time of year to sell a home. But when is the best time to sell a home? And when you are ready, what should you consider?
Every home seller’s situation is different, but there are factors to consider that will affect the successful listing and sale of your home. Whether it’s timing, your personal needs, job changes, or just wanting something new, put some thought into the best way to market your home before you list the property on the public market. Most often, we contract with a future home seller weeks and even months before their property actually going on the market. Proper preparation and planning are key to a successful sale!
It’s a seller’s market in San Francisco real estate right now. In 2017, heading into 2018, we’re in a time when mortgage rates are exceptionally low, inventory is scarce, and buyer demand is high. If you’ve been considering selling your home, now may be the time to do it.
When Should You Sell?
There are definite seasonal trends when it comes to selling in San Francisco. San Francisco’s real estate sales cycle is a little different than most areas of the country, partially because our weather is so temperate. Spring is typically our busiest season, and our “spring” is January to June, followed by fall and then summer, with the winter holidays usually being our slowest season.
That said, if you have a desirable property in a popular neighborhood, there really isn’t a bad time to sell your home in San Francisco, though the optimal strategy may vary. For example, each year between Thanksgiving and New Years, we sell multiple homes off-market bringing holiday cheer to buyers and sellers alike!
While the time of year you put your home on the market can affect the result of the sale, there are obviously other circumstances you should take into account.
What Are Your Needs?
Obviously, it’s important to take your personal circumstances into account. Do you need to move right away? What’s the reason for that? Are you relocating for a job? Do you need to sell your current home before you buy a new one? Are the children in school and you’d prefer to wait until the summer? These are some of the necessary questions to consider when selling your home.
Where Are You Going Next?
Whenever possible, before you begin the selling process, consideration of your next home, and where you’re moving should be taken into account. Depending on where you’re moving, the expense can be very different, influencing your ability and need to sell. If you’re moving within the San Francisco Bay Area, where housing is expensive, you might need to sell your home before moving into a new one. If you’re moving out of the Bay Area to a place where housing is cheaper, maybe you can afford to buy your new home first, thus timing the sale of your SF property around that.
What’s the market Like?
With a few exceptions, inventory is still low in San Francisco, making now a great time to get the most for your home. There are generally more buyers than sellers in our market. San Francisco housing is in high demand now, as it so often is. People have always been drawn to the cosmopolitan charm and energy of our globally-recognized City by the Bay. Over the last few years with the boom in the local tech industry, more and more people are moving here looking for their own Tale of the City... This influx of new buyers is a boon for sellers, especially those who intend to move out of the area.
What’s the job market like?
Right now the job market in the SF Bay Area is strong, leading to more confidence and stability in buyers. The tech economy is going strong, and looks stable for the foreseeable future. People are moving to San Francisco, and looking at staying here for a long time. This is driving up demand for housing, meaning if you’ve got property to move, now is the time to think about selling.
There are so many factors at play in deciding when is the right time to sell your home in San Francisco. In the end, this is a decision that you’ll have to make, taking into account not just the elements above, but your own unique situation. Top San Francisco real estate agent Danielle Lazier + Associates, in collaboration with COMPASS San Francisco, have the expertise to help guide you through the process. With hundreds of sales under their belt, and a record-setting proficiency in listing property, Danielle Lazier will help you secure the best return on your real estate investment while providing a transparent and calm experience. Reach out today for a free consultation!
