The Condo Mania Team
News > When is the Best time to Sell my Scottsdale Condo or Townhome?
published on 2017-09-19
We often get the question from our condo owners, "When should I sell my Condo?" If the condo owner wants the best price and the quickest sale, then statistically there is a right answer to this question.
First, When is the Worst time to Sell a Scottsdale condo?
Most savvy buyers are aware that, like sales of any product, real estate prices move in response to the market forces of supply and demand. And when would you expect demand to be low in the Valley of the sun? Yep, when the temperature climbs. Locals head to California and second home buyers stay away in the third quarter. Almost every year in the past 5 years, third quarter sale prices dipped and sales stayed low as well. Remember, this is CLOSED SALES, so the contract is probably written a month prior.
See the Orange bar for third quarter median sales price.
Sell When Your Competition is Lowest
Condos are a bit different than homes, because in one community, you might find several condos for sale with the same floorplan and similar interiors. Savvy and patient buyers can pick off the more motivated seller when the product is the same. In our experience, condos sell for a better price when more sellers are looking at less competition.
Sell when the demand is Highest
Statistics clearly show that demand for Scottsdale condos is highest in the second quarter. Second home buyers come here to vacation in January and February and then say "let's move here!" in March and April. So to catch the best demand, contact us in January to get your condo on the market in February or March.
The good news is that prices have remained strong in the first and fourth quarters as well in the past few years. And demand is very much apparent in the first quarter. So even if you want to get going early in November, you will probably find buyers then as well.
The red bar in the chart below shows second quarter sales.
Statistics show the character of a market, but you just need one buyer interested in your condo to sell it. Give us a call to let us help you make the right decision on when to put your condo or townhome on the market.
Though not guaranteed, information and statistics in this article have been acquired from sources believed to be reliable.
The Fair Housing Act prohibits discrimination in housing based on color, race, religion, national origin, sex, familial status, or disability.
Information Deemed Reliable But Not Guaranteed. The information being provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information, including square footage, while not guaranteed, has been acquired from sources believed to be reliable.
Last Updated: 2023-06-01 05:16:07