When bringing a new property to the market, we give a lot of thought to timing the listing. We want to pick the right time to do so, to reach potential buyers, and generate enough interest to get the property sold.
I have a great recent example. I got a beautiful Greenwich Village one-bedroom apartment to put on the market at the end of last year. I decided not to list it at the end of last year since we were entering the holiday season and a time when fewer potential buyers are looking.
But now we’re at the beginning of January, and buyers are coming back to the market. You have people who took a break looking for a new home to enjoy their holidays, and people who have decided that a new year is a good time to start looking. In short, I want to make sure to list a property when there is sufficient demand.
Then I look at the competition that the property might be up against. I start my analysis by looking at comparable properties. In my example, I want to see market activity around other one-bed/one-bath coops in Greenwich Village. I look at the last 7 days to see the other new listings that are my immediate competition. I also look a little further back at the last 30 days to see what holdover listings are there from the past month, and what has sold and what hasn’t.
Have a look at this recent video where I take you through my analysis of the market to decide when to list this property. I also wrote this article that looks into other relevant considerations in deciding when to put a property on the market.
If your curious how it all worked out, within the first week I had many buyers to show the property too and we are off to an excellent start!
If you’re considering selling your property and want us to do a similar analysis of your property, or if you’d like information about market activity in your neighborhood, call, text or email us at any time.