One of my goals for 2026 was to sell my 2-year-old, one-level home (purchase price 409K) and downsize to a more affordable townhome. Because my current home would be competing with new construction (in other developments; mine has been done for a while), the plan was to buy first, move, prep and stage, then list. But the buying side hasn't worked out as I'd hoped. New construction options I can afford come with major location drawbacks (near a data center or near a freight train; pick your poison), and rates are too high for resale (I currently have a 5.375% rate).
Given that it's mid-August now, and even if I found something today that I wanted to buy and could close quickly, I'd be listing in Minnesota in late September/early October, which is not ideal. There's also an unfortunate recent comp in my neighborhood that sat for six months and sold for 415K (though that was a 2-car garage, and mine is a 3-car garage). Earlier this year, previous comps in my neighborhood went for 460-485K, and when I started thinking about selling, realtors were estimating 440-450K sale price. Now I think the best-case scenario is closer to 425K.
At this point, should I just wait until spring? I know you can't time the market, but if I want to maximize sale price, it seems like that would be better? Does your advice change knowing that my likely buyer will be a retired person/couple and this is Minnesota, where snow doesn't melt until April?
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source https://www.reddit.com/r/RealEstate/comments/1vnd9g0/minnesota_seller_at_this_point_wait_for_spring/
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