Selling a house can be tricky. However, it doesn’t have to be. With the right information and the right time, you can make a killing by selling your home. So, when is the best time to sell a house?
This article will cover all you need to know about when to sell a house, from the best day to the best month.
The Best Time of Year to Sell a House
Most of the time, spring is the best time to sell a house. This was true before the epidemic caused a housing bubble. It is when most buyers come out of hibernation after the winter and flood the real estate market. That said, there are other factors to consider when making a decision.
Local Economy
Home sale prices are influenced by the U.S. housing market. If the economy does well, property values will rise due to inflation and population expansion.
You should think about the local job market and housing inventory when setting a listing date for your home. This way, you can know the best time to sell your home.
Mortgage Rates
Most of the time, more people buy homes when mortgage rates decrease. So, if you want to sell your home, it is best to keep an eye on the mortgage market. When it goes down, that’s the best time to sell.
The Shape of Your Home
You can get the most money if your house is in great shape. Taking care of any home repairs that need to be done could take a lot of time, but it would be worth it in the end.
If you have any part of your home that isn’t working correctly, endeavor to fix it as soon as possible. This includes fixing any problems that could threaten the safety or the environment, like leaks or broken appliances that are built in.
Re-painting the kitchen or sprucing up the landscaping are just two examples of low-cost changes that can significantly affect how well your home sells.
If you plan to sell your home soon, it might be worth the extra money and time to make it look as nice as the other homes on the block.
After successfully getting your home up to standard, you can consider selling it at a higher rate.
Your Readiness
Even though you should live in your home for at least ten years, there are times when it makes more sense to sell.
For example, many people decide to sell their homes when they have to move for work, when their kids start a new school, or when they’re done having kids and want to downsize.
Therefore, when deciding whether to put your home on the market right now, you should think about your specific situation. Considering all this can help you determine the best time to sell.
What Is the Best Month to Sell a House?
May has traditionally been the best month for real estate. However, in recent times, March has risen to be the best time to sell. In 2019, the advertised properties sold the fastest between March 11 and 18.
If you want to get more money than you’re asking for when you sell, schedule your sale for the week of April. In addition, try and sell your house before September because families will be looking to settle down in anticipation of schools resuming.
That said, you should avoid selling in October, which seems to be the least profitable month to sell. From past sales, people who sold in October did not sell higher than the asking price, with the worst time being the 14th to the 21st.
The Best Day to Sell a House
Putting your house on the market on Thursday is your best bet if you want to sell it quickly and for a reasonable price.
A home is more likely to be sold on Thursday than on any other day of the week. This is a big deal in a market where most homes are sold in seven days or less.
Sunday listings stay on the market for an average of eight days longer than Thursday ones. On the other hand, listing a home for sale on a Saturday or Monday is only slightly better than Sunday. In either case, it will take seven more days to sell than if it had been advertised on Thursday.
What You Should Know About Selling a House in the Summer
Summer is a great time to sell houses. In a lot of places, most home sales happen in June. There are numerous reasons why selling in the summer is both a good and bad idea. Here are some of those reasons.
Pros of Selling in the Summer
- You can learn more about how to value your home from spring house sales.
- Buyers are more likely to make competitive bids and finish deals swiftly because their window of opportunity is closing.
- Potential buyers are pressed for time to find a home for their children about to go back to school.
- There is more time to exhibit homes because most regions have longer days and more consistent weather.
- You and the buyers have more freedom thanks to vacations and more free time after work to show or tour homes.
- Buyers are pressed for time to find a home for their children about to return to school.
Cons of Selling in the Summer
- Extreme heat can be a problem while looking for a new home in some parts of the country.
- Since the holidays are coming up, fewer people may be actively looking for a property in your area.
- You may have higher exhibiting costs because you will constantly have the air conditioning on and your yard maintained.
- The cost of selling a home rises due to increased difficulty locating high-quality contractors, landscapers, and other service providers due to a rise in demand.
House Selling Tips for Different Seasons of the Year
People sell their houses regardless of the time of the year. Here are a few things you should know depending on what season of the year it is.
Tips for Selling a House in the Spring
When it’s warmer outside, it’s a good idea to sell your home because more people are likely to look for one. In addition, people who file their taxes early may get more money back from the government. Hence, they usually want to move into their new home over the summer while their kids are out of school.
Tips for Selling a House in the Summer
May, June, and July are the best months to sell a house because the days are longer, school is out, and it’s warm. Therefore, you can charge more. In August, when many people are on vacation, you can expect things to slow down a bit.
Tips for Selling a House in the Fall
Fewer people are willing to spend a premium price for a house once the new school year begins. However, people who don’t have children or wish to relocate in the fall may be interested in purchasing a home where the leaves change color.
Tips for Selling a House in the Winter
Most potential buyers are busy getting ready for Christmas or can’t travel during the winter months, which makes this the slowest time of year for selling homes. Unfortunately, during this busy time of year, you’ll likely have to lower your prices.
Conclusion
Selling your house at the right time depends on several factors, from the weather to your readiness. That said, one of the most important components is the season you want to sell.
In most cases, spring and summer are the best times to sell. However, there are cases where other seasons might be favorable. Hopefully, this article can help you make the right decision.
