In some cases, sellers can net hundreds or even thousands of dollars more simply by listing their home on the right day and time. That’s a huge opportunity for extra cash for the exact same property!
Knowing when to sell a house can be harder than it sounds, though. If you’re wondering about the right time of year to start your home selling process, you’re not alone. Here’s what you should know to get the most out of your investment.
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To no one’s surprise, the cold season is often the worst time of year to sell a home. Darkening days and colder weather can put a damper on any home search, just as it puts a damper on our mood.
Fall has a slight edge on winter, however, as buyers with families may be motivated to move in before the start of the school year. In some cases, that urgent need for a new home can work to a seller’s advantage, allowing them to transfer the property before the weather gets bad. Some buyers may also try to work fast to clear the sale before the holiday season begins as well.
Alternatively, winter is the slowest season for home sales, as few buyers want to venture out in cold, wet, and even snowy weather. Instead, many homeowners settle in for winter’s busy holiday season, putting their home buying process on the backburner while making plans to move in the spring.
In terms of your real estate value, this slow season may be for the best anyway: many homes’ curb appeal dies right along with their flowers, grass, and landscaping.
If you’re wondering when to sell a house, the warm months of the year are the safest bet. Longer days give buyers more time to search for homes, curb appeal improves with the end of winter, and predictable weather means it’s easier to arrange a showing.
Springtime is hands-down the best season for home sales, with May as the best month to list your home for sale. Properties sold in this month tend to sell up to 2 weeks sooner and for around $2,400 more than homes sold other times of the year.
In addition to the nice weather, there may be a few reasons for this. Parents hoping to close on a new home before the end of summer may be very motivated, and most people haven’t yet left for their summer vacation. Pair this with tax refunds burning a hole in buyers’ pockets, and you have a win-win situation.
When summer rolls around, you’ll still see the benefits of warm weather and more hours of sunshine, but vacation plans can mess with closings. In terms of timing, June can be good for selling as well, though the likelihood of a great sale peters out as you get closer to fall.
Depending on the location of the property, you’ll need to take all these factors with a grain of salt.
Thanks to the differing climates throughout the country, you may see different influences on the housing market. While factors like summer vacation or the holiday season won’t change, the weather can have a dramatic effect.
For example, in balmy southern regions like Florida and the Southwest, the scorching heat of summer isn’t conducive to house hunting. On the other hand, these areas have milder winters, which means you may have a longer window for selling than you would in a snow-prone area.
The local market matters as well. If there’s a buyer’s market in your region, you may want to consider leaving your home on the market a little longer or even selling houses for cash for a quick and convenient sale. Don’t forget to consider the local job market too, as a booming job market may mean more job-seekers looking for an upgrade or transfer.
In addition, county and state tax incentives may make it easier for potential buyers to get into a new home, so take advantage of the opportunity to sell while you can.
No matter what time of year you choose, it’s a good idea to consider the day you list your home for sale.
Though Sunday was once the most popular day to debut new listings, Thursday has taken its place in recent years. Homes listed on Thursday are more likely to sell within 90-180 days than those listed on other days, as buyers often start planning their weekend home tours on Thursday. Opting for an afternoon listing even gives you a further leg up, as the listing may still appear toward the top of the search results on Friday as well.
Ultimately, the best time of year to sell a house will depend on seasonality, the local market, and even your own readiness. However, knowing the best month, date, and even time to sell a house can give you a leg up, allowing you to secure a great deal at the right moment—and even thousands of dollars more, to boot.
Looking for more of the tips you need to make the most of your real estate? Take a look at our other posts for more insights.
