If you’re thinking about selling your house, you may have several questions on your mind, such as: should I sell or rent my house? How much can I sell my house for?
When is the best time to sell my home? Unfortunately, the answer will depend on various factors, including what you plan to do after the sale and how quickly you need to move.
Selling your house can seem intimidating, especially if you’re unsure if it’s the right time. Read on to discover various periods to sell your house and decide which option best fits your preferences.
Best Months to Sell Your House
The last quarter of each year is traditionally when most homeowners move; in fact, March, April, through May are peak months for home sales.
However, if you’re trying to get more than your asking price, you can list your house before September because this is the period when families start settling down and preparing for the school term.
If you’re trying to figure out what’s the best time to sell your house, expect a lot of traffic from around March to September.
Best Day to List Your Home
If you’re in a hurry and don’t mind renting out your property if necessary, listing your home during peak demand – typically Monday through Thursday – may be worth considering.
However, to maximize potential buyers, listing your home during off-peak hours could get you more showings and serious offers. According to Zillow, listing your house for sale on Thursday before Labor day can help it sell quickly.
Best Time of the Year
A sale during spring will bring you more money, as your property will be as vibrant as it can be. However, if you prefer minimal stress and no pressure, summer would be a better option.
However, other factors can influence your decision about when to sell. It depends on where you live, and when your kids return to school.
Selling in Spring
Spring brings a sense of renewal and rebirth to every living thing, and that’s a positive outlook for selling your home as well.
Sellers who list their homes in spring can net an extra percentage on average over those who sell their homes during other seasons.
In addition, houses typically stay on the market for fewer days in spring, while they last over 40 days on average in winter.
Selling in Summer
In summer, selling your house can be a smart move because you’ll likely get a faster sale and a better price.
However, waiting until November or December (when home sales typically slow down) will give you more negotiating power since you’ll be competing with fewer buyers and sellers.
However, if a quick sale is your top priority, selling in summer might save you some time and money (fewer months of mortgage payments and utility bills).
Selling in Winter
Any real estate professional will tell you that winter isn’t necessarily the best time to sell your home. Residences are less likely to get snapped up by eager buyers.
However, if you’re not worried about dropping temperatures keeping some prospective buyers away, you might consider selling in winter. It might just be a good way for you to get more bang for your buck since the market isn’t competitive.
Selling in Fall
People typically start looking for a house in winter and spring, which means you’ll have more competition if you decide to sell during these months.
Conversely, fewer people are out there buying in the fall, which makes it a better time of year for sellers, so try your luck from September through November (after Labor Day).
Consider Supply and Demand
Supply and demand can help you determine how much time you have before your house needs to go on sale. If there are more homes for sale than interested buyers, prices will fall.
On the other hand, if there aren’t many homes on the market, prices will rise, especially if you live in a high-demand area. When selling, it’s best to wait until there are more people in your area looking for houses like yours.
In most major metropolitan areas, supply and demand drive up home prices. If you want to sell your house at a premium price, stay up to date with the supply and demand in your city.
This can help you determine whether the real market is competitive or not, and if now is a good time for you to put your home on the market.
Whether it’s because you’re moving, downsizing, or just trying to make some money, selling your home can be a confusing and complicated process.
Different times of year will have distinct advantages and disadvantages depending on where you live and what sort of housing market you’re in.