The decision on whether or not to sell your beloved home is already a difficult thing to process. But knowing and understanding when to sell — it's another critical point that can affect your decision and would-be profit, especially when the housing market feels unpredictable. 

Frisco's real estate market offers unique opportunities for homeowners considering selling their properties. Before making this significant decision, it's essential to weigh a variety of factors.

To provide you with some guidance, we’ve laid out six factors that you should consider before putting your house on the market.

The Frisco real estate market is known for its vitality and resilience. Frisco's continuous growth and development mean potential buyers are always on the lookout. Analyzing current market trends, such as recent home sales in your neighborhood and the average time homes stay on the market, can provide invaluable insight.

CLICK HERE to See My Latest Frisco Market Report

In general, the spring home-buying season (April to June) is considered the best time to sell a house. Homes sold in May, in particular, net a 12.8 percent seller premium (the amount above the home's market value), based on ATTOM’s 2023 analysis of single-family home and condo sales over the past 10 years. 

However, that’s not always the case. Frisco's continuous growth and development mean potential buyers are always on the lookout.

Summer typically brings out families who are looking to move while their kids are out of school. Winter, on the other hand, is also a popular time for people relocating for jobs, typically during January and February.

When you list in spring and summer, you have to be ready to compete with several other homes. Pricing your home aggressively and marketing your home properly during these times is critical to attract buyers. On the contrary, selling during the slower seasons where there’s less inventory means there’s less competition on the market.

In addition to seasonality, the strength of the U.S. economy and housing market as a whole also plays a role in home prices. A home's value generally increases when the economy is strong.

Each month I release an in-depth real estate market update video, which is your best bet for gathering adequate information and getting a thorough understanding of the national and local housing market. These videos can be found on my YouTube Channel.

Interest rates are another critical factor to consider when deciding when to sell your home. Historically, people are more inclined to buy homes when mortgage rates are lower since they can afford a larger mortgage than they would with higher interest rates. The lower the interest rate, the more purchasing power buyers have. Did you know that every 1% reduction in the mortgage interest rate increases a home buyers purchasing power by 10%.

If you're a prospective seller this year, it might be wise to monitor the mortgage market as today’s higher rates will likely play a role in your decision. The new home builders understand this and have focused their buyer incentives on buying down the mortgage interest rate for buyers.

Your home's equity is the difference between the value of your home and what you owe on it in liens, such as a mortgage. This is the number that tells you if you’ll be able to make a profit, so it’s important to know this before listing your house for sale. If you’ve earned a significant amount of home equity, you can cash out on this when you sell.

Use This FREE TOOL to see How Much Equity You Have in Your Home

Ensuring a great first impression is vital to selling quickly and for top dollar, especially if you're putting your home on the market during peak selling season. Frisco buyers often seek homes ready to accommodate immediate move-in. Consider investing in home improvements that resonate with local tastes, like energy-efficient upgrades or smart home technology. Staging your home to highlight its best features, especially those coveted by Frisco's discerning buyers, can make a substantial difference.

Consulting with a knowledgeable real estate agent will also help you figure out which improvement projects may benefit your home and bring a decent return on your investment. If you’re in a hurry to sell and don’t have time to make improvements, you always have the option to sell your home “as-is”. Just keep in mind that this option comes hand-in-hand with a price reduction.

To help determine which option is best for you and your unique situation, I invite you to Schedule a Call with me.

Last but not least, your situation and objectives should be taken into account. What's your main motivation behind wanting to sell your home? Some homeowners want to get their houses sold as quickly as possible, while others prioritize getting the best sale price possible out of their biggest investment. Here are some circumstances where it might make more sense to sell than to wait:

• You need to downsize - This may be a necessity, especially for older homeowners and empty nesters, either for financial or health and mobility reasons. If the maintenance and upkeep of your home are already becoming difficult, selling may be for the best.

• You need to upsize - Your family is growing, or maybe an elderly relative is coming to live with you for an indefinite time. Your need to have a bigger home can play a role in your decision to sell as soon as possible.

• You need to relocate because of a new job - If this is your reason, it may not be worth waiting until your area’s peak selling season or until your home is in perfect shape.

• You’ve inherited a property - Getting rid of a second home might be easier since you’re also not trying to buy.

Bottom line

Deciding to sell your home in Frisco involves more than just analyzing market conditions. It's about understanding the local lifestyle, buyer preferences, and the unique rhythm of the community. With careful consideration and the right guidance, you can make an informed decision that aligns with your personal and financial goals. So, are you ready to move on? If so, let’s Schedule a Call and put a plan together to help you achieve your real estate goals.