Timeless Tips to Sell Your Condo in Any Market
The Lighter Side of Real Estate • August 5, 2022
When it comes to real estate, not all sales are created equal—and if you’re planning to sell a condo, there are tips and tricks you’ll want to use to make the sale as fast and profitable as possible.
So what, exactly, are those tips and tricks?
A recent article from realtor.com outlined selling tips for homeowners preparing to sell their condo, including:
- Use appropriate comps to determine your pricing strategy. Looking at recent sales in an area is typically a great tool for determining how to price a property. And that’s especially true for condos—as other units that have recently sold in your complex are likely very similar (or even identical!) to yours. Review recent condominium sales and see if there are any in your complex—then use the sale number to get an idea of how to set your price.
- Highlight the convenience and amenities of your complex… One of the reasons people opt to buy condos instead of detached houses is for the convenience and amenities of condo living—so make sure to highlight them in your listing. For example, does your complex offer 24/7 security? A pool? A fitness center? A parking garage? Really sell the perks.
- …and the selling points of your particular condo. In addition to selling the perks of your complex, you’ll also want to sell the perks of your specific unit. Do you have a killer view? A recently remodeled bathroom? New flooring? If there’s something that makes your unit stand out, make sure to feature it in your listing.
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House Hunting Just Got Easier – Here’s Why If you’ve been frustrated by the lack of homes for sale over the past few years, here’s some good news. You have more options, so it may finally be time to kick off your home search again. As Daryl Fairweather, Chief Economist at Redfin, explains: “ Now is the best time to buy in the last two years. Mortgage rates are comparable to what they were two years ago, and prices remain high. However, there is significantly more inventory . . . ” The number of homes for sale has grown compared to last year, and even more options are on the way. While this is typical for the busy spring season, here’s why this is so important right now. Homeowners are listing their houses at the highest pace we’ve seen in a while. New Listings Are on the Rise Over the past few months, the number of new listings, or homes that have recently been put on the market for sale, has been steadily rising (see graph below): Basically, more people are putting their homes on the market each month – whether they’re moving up, downsizing, or relocating. And this trend is a positive sign for the housing market. Sellers who may have been on the fence the past few years are starting to jump back in. That’s helping to boost overall inventory and create better opportunities for both buyers and move-up sellers alike. But it’s not just that the number of fresh options is up month-over-month; there’s also been a jump compared to last year. According to Realtor.com, new listings in March were 10.2% higher than last year, making it the biggest March for new listings since 2021 (see graph below): For anyone who’s been waiting for more choices, this is exactly what you’ve been hoping for – because more homes coming onto the market means more options and a better shot at finding one that fits your needs. To make sure you don't miss out on any of the latest listings for your area, lean on a local real estate agent. Bottom Line If you're thinking about making a move this spring, now may be the time to start exploring your options. With more fresh listings hitting the market, you may find a home you love waiting for you. What features or neighborhoods are at the top of your wish list?
