Why list now? Tips for a quick summer sale

Key Insights

• The price of your home can make a big difference in the success of your sale.
• Home equity is up, buyers are competing, and homes are in short supply.
• From repairs to inspections, there are things you can do now to make for a quicker sale later.

Across Minnesota and western Wisconsin, buyer demand and home prices continue to rise while the supply of homes for sale is growing at a slower pace. This mismatch of supply and demand creates a market that gives sellers a significant advantage, especially at lower price points.

It’s clear this summer will continue to be a sellers’ market in most areas. Many of today’s homeowners have record-high equity in their homes, so if you’ve been considering putting your home on the market in the coming months, here is what you need to know to move forward and attract the highest price possible to take advantage of today’s market.

Price your home right the first time

The majority of showing activity occurs within the first two weeks after a home is listed for sale on the market. By pricing your home competitively, you may get more showings and bids upfront – and multiple offers can mean a higher closing price.

While it might be tempting to price your house high, the reality is that if you price your home too high, the listing may suffer from low traffic and fewer bids. Plus, when a buyer sees a home has been on the market for months, they are more likely to underbid in hopes of securing a bargain. To get the best offer, you’ll want to price your home right from day one.

Together, you and your REALTOR® can work to assess your home’s current market value by taking into account:

• The property’s condition and any upgrades you’ve made
• The prices of recently sold properties nearby
• Local market trends and buyer demand

Reach out for a free (no obligation) home value estimate that includes in-depth market and property information – aspects often missed by algorithms and tax assessments.

Give buyers what they want

We already talked about getting the price right from the start, but other factors will also influence your home sale's success. Common pitfalls might include:

• An unwelcoming exterior: Consult our curb appeal checklist for help.
• An interior that feels too “lived in”: Stage your home to appeal to buyers.
• A home that needs major updates: See what home improvements pay off, and which to skip.
• Too much stuff: Declutter and increase your storage.

Need to add appeal on a small budget? Focus on these updates so your home stands out:

• Clean and declutter
• Put a fresh coat of paint on the walls (neutral colors are best)
• Make minor repairs like fixing drips, squeaks, stains, scratches and dents
• Swap dated light fixtures and hardware for more modern pieces
• Refresh your mulch and landscaping

Plus, follow our tips for hosting a picture-perfect open house once your home is on the market.

Be prepared for inspections

Some cities in Minnesota (around the Twin Cities metro) require a home inspection before the home can be sold. Often referred to as the “Truth-in-Sale-of-Housing” or TISH inspection, the TISH report usually includes a list of fixes sellers will need to complete; it’s focused on risks to life or health that might include plumbing elements and smoke detectors.

When considering offers from buyers, you may see contingencies like a buyer making an offer contingent upon it passing a home inspection. It’s important to understand what a buyer’s home inspection might include so you can prepare in advance.

Get answers to all your home selling questions with our seller’s guide!

Stay plugged in

An informed seller is an empowered seller. Whether it’s your first time selling, you’re helping a family member or trying to time a sale and a purchase, your REALTOR can play an instrumental part in getting the price and terms you want as you move forward.

Reach out to Edina Realty or your agent to begin the process of selling your home for top dollar.