Many of us buy our homes with the idea of living there forever. Of course, sometimes things change and when they do, we’re faced with the massive task of selling our home and moving elsewhere.
When that decision comes, you may be wondering when is the right time to sell your home. To answer the question, you should take several factors into consideration.
Firstly, you may want the time you move to coincide with the school year’s end, which makes summer or spring the perfect moment.
Furthermore, you should take the local real-estate market into account and try to list your place at a time when the expected sale price will be higher, yet still appealing to a large number of potential buyers.
For example, if the historical peak of homes sold in your neighborhood is in April, then that’s a good month to aim for.
Here, we’ll analyze the benefits and drawbacks of listing your house at different points during the year so you can find the right time to sell it.
The Right Time to Sell Your Home
The Right Time to Sell Your Home, According to National Data
Due to a report made by the National Association Of Realtors the best possible moment to sell your property and to get the highest prize and minimize time on market is in the spring.
Homes listed for sale during this period not only sell two weeks faster than average but for an extra $2,500.
Why is that so?
In parts of the country where you can see all four seasons, spring has the advantage of attracting buyers who are done with hibernating and ready to go and visit homes in person.
In addition, houses tend to have a more appealing look in the spring, when the flowers are blooming and the grass is green and vibrant.
For states like California or Arizona, where there is no seasonal weather you’d be wise to work with a local real-estate agent, to better understand the factors which influence time on market and home prices in your area.
Selling in Spring
As we stated above spring is generally considered the best time to sell a house for a number of reasons. Improving weather can show a property at its best and potential buyers are more likely to go for a walk and check homes on their own.
Families who are looking to move to a new area with school-age children might also choose spring to start looking for a house to time their move with the school summer holiday.
Selling in Summer
Many of the benefits of selling a house in the spring apply to the summer as well. Nice weather in many regions of the country leads to more active buyers and increased natural look of properties. Along with that, the kids are still out of school on summer break, which makes it a great time for families to move.
On the other hand, summers can be extremely hot in certain places, making shopping for a new home unpleasant, especially in July and August.
Many folks also tend to travel during this period because of a planned vacation, which reduces the number of the potential buyers drastically, compared to the spring.
Selling in Autumn
If there’s one benefit to selling your place during autumn, it’s the lack of competition. With fewer competitors on the marker, you might score a higher selling price, especially if you happen to encounter a buyer who wants to move immediately.
Fall is extremely appropriate for families without school-aged children who do not need to comply with the school calendar. So, there is still a chance for a decent amount of foot traffic to your home as buyers aim to buy a new house and move before the cold weather sets in.
Selling in Winter
Generally speaking, winter is the least popular time to sell your home. Not only because the weather is at its worst, but because everyone is focused on the upcoming Christmas and New Year holidays.
If you decide to list your home anyway, you can take advantage of the fact that competition in the winter period is weak. Your best chance is in the days immediately after the holidays, when there can be a spike in online searches of a property.