How to Sell Your Home When You’re Looking to Buy Another

There are a few ways you can handle buying and selling a home at the same time.

Selling in Northeast Ohio? Click here for a free home value report
Buying in Northeast Ohio? Click here for full MLS access

How can you sell your current home while trying to buy another home in our market? What are your options?

The first question you should ask yourself is, should you buy a home first and then try to sell your former home?

If you’re in a financial position that allows you to buy before you sell, that’s more favorable because you won’t have to coordinate showings or keep your house clean. Closing dates are also easier to get in this scenario. 

If you’re not in a financial position to do this, you can always put in a contingent offer on the new home you want, but those offers don’t look as favorable to someone who doesn’t have to sell their home, especially in a multiple offer situation. If you have a house to sell, list it first and then start looking for other homes because if you get an offer on your current home, it makes your offer on the buyer side a lot stronger if that house goes under contract.

If you can afford to buy your next home before you sell your current home, by all means do it.

If you don’t find the home you want in your designated time frame, there are certain things you can do to remedy the situation. For example, one of the things we do for our clients is door knocking, where we go to certain neighborhoods and proactively find homes that match our client’s criteria. This way, we can secure a purchase on a home that’s not even on the market. This scenario also benefits sellers because it happens before any other buyers get a chance to look at the home and they won’t have to deal with any multiple offer situations. 

In the end, the best tip we can offer is to call us for a free consultation so we can go over your needs, what you’re looking for, and help you to have the least amount of stress and hassle throughout the process. Everyone’s personal situation is unique, so it’s important to develop a personalized plan for your situation. You wouldn’t get into a car and start driving without knowing the end destination. So, what we do is provide that end destination.  

If you have any questions or you’re thinking about buying or selling a house, please don’t hesitate to give us a call or send us an email so we can give you a free consultation. We look forward to hearing from you.

What Do the Numbers Say About Our Market?

We have the latest numbers from our market and what they mean for both buyers and sellers.

Selling in Northeast Ohio? Click here for a free home value report
Buying in Northeast Ohio? Click here for full MLS access

To get a sense of where our southwest Cleveland area market stands, let’s look at how the numbers stacked up at the end of May. 

In Medina, there were 248 active listings, 115 pending listings, and 114 closed listings. There were roughly 2.2 months of inventory. These numbers indicate Medina has moved from a neutral market to a seller’s market. 

In Brunswick, there were 58 active listings, 78 pending listings, and 69 closed listings. Based on the number of properties closing per month, Brunswick has zero months of inventory, which makes it a heavy seller’s market. 

In Hinckley, there were 22 active listings, 12 pending listings, and four closed listings. This area is still a neutral market and hasn’t changed much from previous months. 

In Strongsville, there were 123 active listings, 66 pending listings, and 64 closed listings. With less than two months of inventory, they continue to be a seller’s market. 

Our market generally favors sellers.

In Middleburg Heights, there were 23 active listings, 21 pending listings, and 25 closed listings. They have less than a month of inventory, so they’re also a strong seller’s market.  

Though most areas are in a seller’s market, not every price point favors sellers. The sweet spot for buyers seems to be in the $150,000 to $300,000 range. In Brunswick, the $300,000 to $400,000 is more on the border of being a neutral or buyer’s market because there is more inventory in that price point than there are buyers. 

If you have any questions about our market or are thinking of buying or selling a home, give us a call or send us an email for a free consultation. We’d be happy to help you.