At the Best Times of Year to Put Your Home on the Market
The best time of year to sell a home fast, and for more money depends on where you live and your personal situation. You have your own family’s needs to consider. You may want to time your move to coincide with the end of the school year, for which selling in the spring or summer makes sense. You should also take the local real-estate market into account and aim to list your property at a time that’s likely to give you the best sale price and appeal to a large number of prospective buyers. For example, if the number of homes sold in your neighborhood has historically peaked in April, then that’s a good month to aim for.
While most people automatically think “spring” when selling, that’s not true in places like Louisiana, Arizona, Florida, Southern California and Texas. That’s because the weather gets intense in those areas–think triple-digit heat, hurricanes, and tornadoes.
In most areas, the best time of year to sell a home is during the first two weeks of May. You can expect to sell 18.5 days faster than any other month and for 5.9 percent more money. In other places, early April or June is better for home sales than May. Here’s a few more pluses to selling in the spring.
- Tax refunds come in the late winter or early spring, making more funds available for repairs and renovations
- Warmer weather and longer days mean more home buyers go out searching for homes
- Curb appeal improves as trees, flowers, and grass bloom (and less muck gets tracked into your house)
- You can get ahead of summer competition and beat the rush
- School lets out, allowing kids to finish the school year just as buyers close on a home
Like spring, summer is a top time of year to sell. In some regions, June is tops for home closing. In fact, June 28 is the most likely day in the year to close on a home, according to ATTOM Data Solutions. There are a variety of other reasons that summer is the best time of year to sell a home. But drawbacks to listing between mid-June and late August exist, too.
- More daylight hours and predictable weather in most places equate to more time for home showings
- Time for you (and buyers) is more flexible with vacations and more time after work hours showing or touring houses
- Buyers have a sense of urgency to get their school-aged kids settled
- There is more available data from spring home sales to use to price your home
- With their buying window closing, buyers are more likely to make more competitive offers and move faster to close
While fall is not the best time of year to sell a home for most sellers, it is for others. You may live in one of the places where it’s blazing hot starting in late April and straight through summer, or you live in tornado alley. Your house might not be “family-friendly” or you may live on the coast, where some areas can be foggy and cold all summer but warm and beautiful in the fall. And your yard may be spectacular with changing colors. If so, this might be the best time of year to list your home.
- Less inventory and competition from people selling family homes
- Serious buyers who couldn’t buy during spring and summer have the motivation to close before the holidays
- Costs for fixing up your home get lower, and you’ll have more access to professionals to help you as their busy season ends
Winter is likely the hardest to sell a house in most areas. But, in resort areas like Florida, Arizona, Southern Nevada and ski towns, winter is the prime selling season. Either way, if you understand the pros and cons of selling in winter, it might be the best time of year to sell a home for you.
- Highly motivated buyers who want to close before the year ends to take advantage of tax breaks
- Less inventory means lower competition for buyer attention, especially in off-season markets
- Relocating buyers need to find a home to start new jobs or take other opportunities in December, January or February
- Top real estate agents looking for year-end sales rise to the challenge to sell your home
It’s important to understand that people successfully sell even when it’s not the best time of year to sell a home. Changes in your financial or family situation could force an
immediate home listing. But those same things could force another family to come shopping. Contact Preferred Lending Solutions for more on quick ways to get your house on the market any time of year.