When Is The Best Time To Sell A Home?
Studies show that the best time to sell a house is the spring season. According to Zillow, Homes sold in the first half of May sell six days and $1,600 more than the average listing nationwide in 2019. Statistics are statistics, but they are not always true.
- It depends on the housing market in your area
- Competition is high in the summer, but also the time where families are hustling to relocate before school begins.
- Competition is lower during the Fall season and prices for repairs tend to be lower.
- Winter leans on having more serious buyers who are up against deadlines.
The best time to sell your home all depends on your current situation and location. As the famous phrase goes, “location, location, location.”
Evaluate the area of where you’re selling your home first
As mentioned before, the best time to sell your home fast while maximizing profit depends on where your home is located. Most people will look at the statistics and quickly jump into conclusion that “spring” is the best time to sell. Places that are already warm, such as Florida, Texas, Southern California, and Phoenix, may not do well in spring. The reason being is that heat gets so intense that hurricanes and tornadoes have a higher chance of occurring.
Here are the pros and cons of selling your home during each season in your region. Always do your due diligence to research the best time of the year to sell your home.
The best time to have your house listed at this time of the year is the first two weeks of May according to Zillow. Houses were sold 6 days faster and a higher profit margin nationwide.
- As the season gets warmer, the longer the days are for buyers to go searching for home.
- This time of the year is generally the peak condition for trees, grass, and flowers to be blooming.
- Early spring can give a head start on the high summer competition.
- As schools are finishing up, buyers are more serious about purchasing homes.
- Majority of buyers will have their tax refunds set aside by spring giving them more money to invest in repairs and renovations.
- Depending on your region, it might still be too cold and rainy for buyers.
- Depending on how quickly you close on your home, maybe inconvenient for you and the kids.
- Competition can still be very high as many people will think they are beating the summer competition.
The Summer season is another prime time to sell your home. School is out and buyers tend to be more active on house hunting.
- Daylight hours are usually at their peak which means more time for open houses
- Having the ability to read the housing market better with spring data
- Buyers are having a sense of urgency to get settled before school starts
- Vacation season is here which means more buyers are flexible and available than usual.
- Weather can be too hot in some areas where buyers will be less active
- Vacation time also means that fewer buyers may be looking in your region
- It is the prime time for selling houses and competition is insanely high which drives higher demands and better features from buyers
- Finding professionals in your area will be tough since everyone will want the best real estate agent, landscapers, contractors, etc.
This time of the year may not statistically be best for the majority of home sellers, but for others it is. It all boils down to where you live. Some places will be beautiful in the fall where the trees are just changing colors and it may work well with your yard. If this is your case, Fall is the best time for you to list your home.
- Cost for fixing up your home get lower and you will have more access to professionals as the busy summer season ends
- Serious buyers who could not close on a deal in the summer will have more motivation to close as the holidays are nearing
- There are much less volume of houses on the market and competition from other sellers
- Heating costs generally go up as you try to keep your home warmer for buyers
- School has started and the majority of the home family buyers have settled down
- Buyers will get more demanding and take advantage of the lower competition for your home
- Curb appeal will disappear much sooner as the leaves start dropping, flowers dying, and grass grows browner
The amount of buyers might slow down at this time of the year as it gets cooler in most regions. Remember the famous phrase? “Location, location, location.” Cannot stress it enough that location is key for both home buyers and sellers. Places like Florida, Arizona, Southern California, and even ski towns are the supreme time to sell your house during the winter season.
- The amount of inventory is lower meaning less competition for buyers during “off-season” markets
- The best real estate agents in your area are looking for year-end sales rise to the challenge of selling your home
- Highly motivated buyers are wanting to take advantage of the tax breaks before the year ends
- Homebuyers that are relocating will start house hunting in hoping to get a better deal before spring season
- Taking advantage of the holidays to decorate your home to attract holiday loving buyers
- Some buyers may take advantage of sellers desperation to sell their home quickly in a cold market
- Electricity/gas bill is high due to keeping the house warm for buyers
- Days are much shorter and too cold for buyers
- It is the holiday season and the majority of buyers are chilling till spring season
- Selling in hot winter markets, such as Florida, means more competition
- Worst time of the year to make any repairs or renovations as it is too cold in most areas
The Bottom Line
Another, better solution if you are struggling financially after recent events in your life is selling to Cash Buyers. Investment companies such as Cash Offer On House will pay you cash for your home with a fair offer. They will take your home in as-is condition and cover closing costs, repair costs, no commission fees, etc. At the same time, they are always ready to buy no matter what the season is.
CashOfferOnHouse.com will go the extra mile to find the best solution for you and your home.
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