Selling a Home in the Summer Months in STL
For St Louisans, we pretty much know that July and August are going to be hot and sticky. Selling a home in the summer months in St Louis brings on a unique set of challenges from the winter months. People are busier in the summer months and a little bit more distracted, so you are not only competing with other homes but also with play-time schedules, vacations and our weather.
The NAR issued some good news for buyers this summer but this news puts the “heat on” sellers. The National Association of Realtors reported in a June 30, 2014, article that buyers should be happy this summer.
- According to May housing data from NAR, inventories are 6% higher than year-ago levels.
- In that same report, NAR mentioned that the median existing-home price for all housing types in May showed a 5.5% rise above May 2013 whereas home prices rose 11.5% in 2012.
- With rising inventories, bidding wars are down by double-digit margins in many markets this year according to Redfin which conducts an annual bidding war report.
- Mortgage rates are averaging about 4.1%.
When it appears that the edge is going to buyers it is more important than ever for sellers to “rev it up”. These tips should give you a jump start over your competition for selling a home in the summer months:
- Curb Appeal: make sure your lawn is lush and green. Best practice is to keep the grass a little longer and maybe cut it twice a week. Plant a few annuals for bursts of color.
- Air Conditioning: Please, please, please keep it cool. I showed a house the other day where the temperature inside was higher than outside. All the buyers wanted to do was leave.
- Outside living spaces: Selling a home in the summer months gives you a great opportunity to show off your outdoor living spaces. If you have a patio or deck, make sure it is staged. Buyers are going to be looking for places for the kids to play, places for the pets and where they will be barbecuing. Outdoor living spaces are a high priority on buyers’ wish lists.
- Light and bright: Good daylighting is preferable in both summer and winter months. It is a balancing act between direct sunlight, ambient light and artificial light. Read here for tips on good daylighting.
- Ice Cold Lemonade: Finally, find a spot where you would like your potential buyer to pause and really see the beauty of your home. Be it the patio, the kitchen or the family room. Set out an attractive basket with some cold bottled water and a note offering the water to the buyer. It will give them an excuse to pause and feel relaxed in your home.
If you are thinking of selling a home or would like buyer representation, please contact Barbara Heise, 314-448-4768 or barb@AtHomeInStl.com.
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