Selling a house is never an easy task, both from the psychological and “mechanical” aspects. We’re often way too attached to our homes so giving it away to a complete stranger and moving somewhere else is a difficult thing to do, really.
But, sometimes “life happens”, so we have to do some changes and move on. For some people, money is the reason, for others, it’s just the will to start over at a new place. It doesn’t really matter what your reason is though, because what you should be focusing on at the moment is selling your home properly and efficiently.
In today’s article, we’re going to talk about Missouri and the current state of the market in that particular area. In the past few months, it’s really a “hotspot” for real-estate sales, so we decided that it’s time to share some knowledge with those who are slightly more inexperienced with this entire thing.
You don’t have to be a real estate agent to know that selling a home effectively has a lot to do with your timing. Not every moment is the perfect one to sell, so you’ll really have to wait for the right opportunity if you want to maximize the value of your transaction. Let’s take a look at what you need to know.
Why is Missouri a hotspot for real-estate now?
A state that doesn’t seem to be involved in any unnecessary “drama” while the entire country was filled with protests and chaos is always a place that will attract those looking for peace and serenity. It’s not a secret that Missouri has always been that mix between urbanism and calmness. It’s not isolated by any means, so you can still enjoy all the benefits of living in an urban place, but if you want, you can purchase a home a bit further away from all the noise. People in 2020 really appreciate these benefits, so we assume that one of the main reasons why Missouri got a lot of attention lately is exactly because of this.
When is the best time to sell?
Even if you are not someone who is dedicated to learning trading so much, especially not with real-estate, you probably still know that the main concept is to buy low and sell high. After all, that’s how every business and market works. But, enough with the obvious, let’s focus on what’s specific for Missouri since most of you are here because of that specific reason.
According to Offer House, in 2020, the worst month for the real estate market in Missouri was February. This is when all the prices dropped by almost ten percent, which doesn’t seem like much to “the average Joe”, but it’s a true nightmare for the experienced real estate agent. June on the other hand was the best month. Prices went up by about nine percent than average. So, according to this information, June was the best time to sell a house in Missouri in 2020. However, is 2020 really a trustworthy year for anything?
Some charts point out that January and February were great months for selling as well, but here’s one thing that people don’t really think about when thinking about selling. A higher price means you make more profit, sure, but it also takes quite a lot longer to sell, and it’s a lot more difficult to find a buyer. So, after all, if you are in a rush, selling during some of the “worse months” might be a better idea.
Keep track of the market at all times
In a few years from now, we’re all going to remember 2020 for one thing. In fact, for a lot of things, most of them bad, but one of the main ones will always be the coronavirus. It’s not a secret that the global covid-19 pandemic managed to ruin a lot of things for a lot of people, and the real estate market is not an exclusion.
You see, people suddenly started living in chaos, and most of them lost their main jobs. It’s also a fact that our world is facing a mild economic crisis, and when something like this takes place, the entire market faces something called a “crash” or a “bubble burst”. This is when prices suddenly start dropping quite low, and it’s what frightens people a lot, especially those who invested quite a lot of money in this field. So, our main advice is to keep track of the market in the area where you want to buy or sell for as long as you have to. Let’s see how and why.
Why monitoring prices matters so much
As a buyer, you should be happy that the prices dropped in the past couple of months. But, as a seller, it’s definitely bad news more than anything. Although you will be able to sell much easier now because of the huge demand to buy for a lower price, it’s probably something that we do not recommend you to do. If you are not in a rush, we suggest that you “wait it out” until the prices get back to normal. Currently, Missouri is not facing such a huge loss, but still, prices aren’t where they used to be before the pandemic.
However, if you really need to sell your home fast, you’ll be more than able to do it at the moment, but it won’t be as worth it as before. Back in the day, monitoring prices was quite difficult. Today, we have all the required tools, and most importantly, the internet. All that separates you from this valuable knowledge are just a few clicks. Anyone can do it.
Missouri is a great destination to buy a home at, but if you recently changed your mind and you don’t want to live there anymore, selling is the first thing you need to do before starting over in a new state. In order to sell with maximum efficiency, you’ll need to carefully monitor the market and sell during a period where prices of real estate are higher than usual.