Your Home Sold Guaranteed Realty - The Salas Team

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Is Now a Good Time to Sell My House in Temple?

“Is now a good time to sell my house in Temple?…What about now?…Now?” Knowing when to list your home for sale can be complicated. Your chances of success rely heavily on the market, especially if you don’t work with an experienced realtor. 

In recent months, the market has done little to inspire confidence in home sellers. From rising interest rates to fears of a recession, home sellers are understandably worried about their odds of selling for the right price.

At Your Home Sold Guaranteed Realty - The Salas Team, we understand that deciding when to sell your home can be overwhelming. You don’t have to wonder whether it’s the right time to sell – here, we break down the market conditions so you can achieve your real estate goals.

Is Now a Good Time to Sell My Home in Temple?

Unlike other parts of Texas, Temple is firmly a buyer’s market. This means generally that the conditions of the market favor the buyer over the seller. Supply is high while demand is low, causing homes to stay on the market longer and sell for at or below listing price.  

As of April 2023, the median house price in Temple was $268,500. The overall number of homes sold decreased while the median number of days on the market increased. 

Whether the market continues to be a buyer’s market or will begin to trend in the opposite direction, an expert realtor can market-proof your listing so that you are guaranteed success every time.

Should I Sell Now or Wait?

So is it a good time to sell your house now or should you wait? Whether it’s a good time to sell will oftentimes be based on your personal circumstances. 

For instance, life changes such as divorce or unemployment may make selling now make sense. If you do have to sell immediately, use an experienced realtor to ensure that the market doesn’t interfere with your real estate success. 

On the other hand, if you have some flexibility, it’s worth weighing all your options. First, consider the state of the economy. The Federal Reserve continued to raise interest rates in early 2023, and inflation was still high. And some economists think a recession may be likely later in the year.

Of course, it’s impossible to completely predict what direction the economy could head in. But if it’s reasonable to assume a recession is in the future, selling sooner could be better. That way, you avoid selling in a recession, when there’s likely to be even fewer home buyers in the market.

But if you sell now, you’ll also have to consider whether you’ll be looking to buy another home. If that’s the case, you’ll face expensive mortgage rates. And depending on the housing market you move to, there may be more competition from other buyers.

Ultimately, it’s important to consult with a real estate professional to help you decide the right time to sell. It’s also a good idea to reach out to a realtor in the area you plan to buy your next home.

What Can You Do to Achieve a Successful Sale?

If you want to ensure your home sells fast in a down market, it’s imperative to invest in it to make sure it’s move-in ready. 

When the market is tough, home buyers are actually more willing to pay a higher price for a home in good condition. That way, they won’t have to worry about having to pay for potential repairs or an appliance breaking down right after purchasing the home.

To start preparing your property for sale, invest in professional:

  • Cleaning services to deep clean and sanitize your entire home
  • Landscaping services to boost your curb appeal
  • General contractors to fix urgent repairs, add new paint, and repair big-ticket items like the roof
  • Home stager to maximize your home’s best features, layout, and natural lighting

In addition, it will be crucial to work with an experienced realtor who can come up with a pricing strategy for your home. In a market experiencing high interest rates, home sellers typically have to lower their asking prices to compensate for the increased mortgage expense for buyers.

But when there’s a buyer’s market at the same time, many home sellers may be tempted to lower their asking prices even further in order to appeal to home buyers. 

When there’s a small group of buyers that have their pick of a large inventory– including new construction– lowering your price can seem like a good way to compete. However, you also risk losing thousands in profits.

A realtor can help you walk the line and get the best possible price for your home. 

Work With Our Team to Sell a Home in Temple

If you need to sell a home in Temple, contact Your Home Sold Guaranteed Realty - The Salas Team today. Our team has years of experience serving home sellers in the community, and we can help you answer the question, “Is now a good time to sell my house in Temple.”

We’ve become known as the best realtor in the area because of our exceptional selling speed. In fact, we sell homes 2.8 times faster and for 3.1% more money than our competitors.

On top of that, our clients love working with us because of our unique seller guarantees, such as our Guaranteed Sale Program.

With this program, you can ensure your home sells within your desired time frame, no matter what. If it doesn’t sell to a home buyer, our real estate team will buy it ourselves for an agreed-upon price.

To learn more about our other guarantees or what it’s like working with our team, call 254-223-SOLD. You can also fill out the form below for more information.

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