If you're seeking to sell a condo that isn't in a major city (in Beaverton or McMinnville for example), you might be concerned about how long it will take to sell. But top real estate agents say not to worry—even in a densely populated location, condos appeal to a specific type of buyer: one who values convenience.
Best Time of Year to Sell your Condo
Whether you're selling a condo or a house, the peculiarities of your neighborhood determine the optimum time to put your home on the market. While it's common knowledge that the greatest time to sell a house is in the spring, this isn't true in every location. Historic patterns have loosened, and in some cases vanished, in recent years. Nonetheless, there are times in different sections of the country when merchants can be more aggressive with their pricing.
Guide on Selling Your Condo
Your condo's price should be determined by availability and your exact unit
Condos are becoming more enticing as single-family home prices soar across the country. Condo buyers enjoy the benefits of ownership as well as benefits such as lower upkeep and convenient proximity to shops and transportation. Plus, owning a condominium can prove more affordable than renting.
Here are a few considerations:
Consider how your apartment compares to the others in the building
Consider the supply and demand for condos in your area when determining your pricing approach.
Make sure it’s a turnkey property
Condos appeal to folks who aren't looking for a fixer-upper, whether they're young professionals or retirees looking to downsize. When selling a condo, real estate brokers argue that upgrades are worth the money, unlike when selling a house, where renovations may not deliver a full return on investment.
Here are a few considerations:
New countertops
Fresh interior paint
Quiet flooring
Play up the amenities
Residents in a condominium complex have regulations to observe and fees to pay, similar to those in a homeowners' association (HOA), however, these are in exchange for certain privileges. So be explicit about the costs and what they cover in your condo listing.
While most condo fees cover external maintenance and upkeep, such as grass care, some additionally offer utility coverage, such as:
Water
Sewer
Garbage collection
Sun deck and outdoor grill
Gym
Heat
Electricity
Cable TV
Outdoor pool
Bar or Lounge
Also consider the proximity to restaurants, leisure, the arts, and other activities, which appeals to millennials and others who prefer a walkable lifestyle. If your condo is close to shopping, transportation, a restaurant or theater district, the library, or schools, mention it.
Show off your condo’s size
That's why it's critical to depersonalize and simplify your condo — even the tiniest spaces — in order to show how spacious it is. Include LED lighting that emits a gentle or cool light that is brilliant but not overpowering. Make all the nooks and crannies look as spacious as possible. If your condo has a decent layout with plenty of usable space (not a long corridor that takes up space or tilted walls that make furniture arrangement problematic), make sure to showcase it in your listing images.
Outline the incentives
Is there anything in your apartment that could be used as a perk? Other buildings have awarded one-year gym memberships or high-end department store gift cards. However, incentives go beyond high-end gift cards and fee reductions. Because some buyers acquire condominiums as investment properties, it's worth promoting whether your condominium organization enables leasing.
In Summary
Working with a top local real estate agent who has expertise in promoting and closing condo sales — and understands your local market inside and out — is critical when selling a condo. Consult an experienced agent about the availability and demand in your neighborhood, as well as how to highlight what your property has to offer.
If you’re not confident that your condo is in the best condition to sell or work with an agent, or that you’re in a rush to sell your condo for cash—Ash Creek Properties is here for you to offer an all-cash offer for your home, as-is. Close and move out on the date of your choosing. Contact us today!