Deciding when to sell your house can be daunting. Every homeowner wants to ensure they get the best possible price for their property, and timing can significantly impact the final deal. According to ATTOM
, you can sell your home for thousands of dollars more in the spring and early summer than in the winter. But the ideal time can also depend on various factors like your local housing market, the state of your home, and your personal circumstances.
Best Months to Sell
When examining the best time to sell a house, a useful tool is to review historical trends in home sales. The table below displays sales data for single-family homes and condos from 2011 to 2021. The information includes the median sales price, the median Automated Valuation Model (AVM) price, and the seller premium for each month.
||Median Sales Price
The Impact of Seasons on Home Sales
Each season of the year presents unique opportunities and challenges for home sellers. Below we'll explore what each season might mean for your home sale.
Autumnal Abodes: The Impact of Fall on Home Sales
Fall is traditionally seen as a slow season in real estate. With the school year starting and the busy holiday season just around the corner, fewer buyers may be shopping for homes. However, it is essential to note that lower competition can be advantageous to sellers.
Winter Wonders: The Influence of Winter on Home Sales
Despite the colder weather and shorter days, winter can be a great time to sell a house. Buyers shopping in the winter months are often more serious and ready to close the deal quickly.
Spring Sales: The Effect of Spring on Home Sales
The spring is often considered the best time to sell a house. With warmer weather, more daylight hours, and tax refunds coming in, many buyers are ready to make a move.
Summer Selling: The Role of Summer on Home Sales
The summer months can be a great time to sell your home, especially if it is in a location with great weather. Families with children may prefer to move during the school break, leading to an increase in potential buyers.
Recognizing Peak Market Conditions
Understanding your local housing market is key to a successful sale. Below, we delve into the differences between a buyer's and a seller's market and what happens when mortgage rates drop.
Timing a Sale in a Buyer's Market
In a buyer's market, there are more homes for sale than there are buyers. This condition presents a challenge for sellers, but a well-maintained home with an attractive asking price can still attract serious buyers.
The Advantages of Selling in a Seller's Market
In a seller's market, the demand for houses is greater than the supply. This condition can drive up home prices and make it the best time to sell if you're looking to maximize your return.
The Impact of Lowering Mortgage Rates
A drop in mortgage rates can stimulate buyer demand, making it a great time to sell your home. More buyers in the market could mean a quicker sale at a higher price.
Pinpointing the Right Time for Your Sale
Deciding when to sell your house can also be influenced by personal circumstances and the condition of your home.
Selling in Line with Lifestyle Changes
The right time to sell your house might coincide with significant life changes. This could include a new job, retirement, or a growing family that needs more space.
Making Sure Repairs Are Completed
It is advisable to complete all necessary repairs before listing your home. A well-maintained house can attract more buyers and potentially lead to a quicker sale at a higher price.
Being Financially Prepared
Ensure you're in top financial shape before you decide to sell your house. This can include having funds ready for moving expenses, paying off your existing mortgage, or making a down payment on a new home.
Fast Facts about Selling Your Home
Here are some quick tidbits that can help you in the home-selling process:
- The cleanliness of a home can significantly affect the selling price.
- Homes attract the most buyers and sell faster when priced correctly from the beginning.
- Expect disruptions to your regular schedule during the selling process.
- Buyers may overestimate repair costs, which could lead to a lower offer if repairs are not fixed before the sale.
- Overpriced homes may inadvertently help sell similar, lower-priced homes in the area.
- Be ready for negotiation over repair costs after the home inspection.
- Unpleasant odors in the home can deter potential buyers and lower the selling price.
- An offer from a buyer who requires financing can compete with a cash offer, depending on the terms.
- Homes that have been well-kept typically sell for a higher price.
About MC2 Properties Group
Guided by Joy McWilliams, a seasoned and insightful real estate broker, MC2 Properties Group is a trusted name in the property market. Serving a wide array of clients, MC2 Properties Group prides itself on its versatility in dealing with diverse property types, from compact condos to sprawling estates. The firm welcomes both buyers and sellers across all price brackets. McWilliams, with her deep-seated knowledge of the industry, empathizes with those undertaking local moves or national relocations, providing comprehensive support throughout their real estate journey. If you're looking to buy or sell a home or have any questions about the Parker real estate market, don't hesitate to reach out to MC2 Properties Group