Sellers ask me all the time, “When is the best time to list my Santa Barbara home?” That’s no surprise since timing can significantly influence the final sale price of a home, and how quickly a home will sell, according to new data from Zillow®. The data shows that homes sold in late spring (May 1 through May 15), sell around 18.5 days faster and for 1% more than the average listing.
“The housing market today is heavily influenced by low inventory,” said Zillow chief economist Dr. Svenja Gudell. “Faced with increasingly competitive markets, many buyers are forced to consider several homes and make multiple offers, elongating the home shopping experience. By listing homes further into the shopping season, sellers may attract buyers who are increasingly eager to purchase and may be more willing to pay a premium for the home.”
Of course, there are local market variations when it comes to selecting the best time to sell. These variations are usually centered on weather patterns that can make the buying season more volatile in some parts of the country. Sellers in California and specifically here in Santa Barbara have more flexibility because of our amazing mild climate, although spring is still the best time of year to list your home and here’s why:
Realtor.com says spring is the time of year when properties shine. The flowers are in bloom and buyers are out in numbers. Daylight Savings Time also gives buyers more time to look at houses, which means a bigger chance for more interested buyers. With more buyers come more options for potential homebuyers. It can also lead to bidding wars.
If you are considering selling your home in Montecito, Hope Ranch or any of Santa Barbara’s upscale communities, I suggest you act now. Just call me at 805.886.9378 or email me at Cristal@montecito-estate.com and let’s get moving and list your Santa Barbara home this spring!