When Is the Best Time to Sell a House?
The question – “what is the best time to list a house for sale?” – is one of the questions on the mind of house owners. According to research, selling at the best time can make your home sell faster and higher. Waiting for the best time to list your house would reduce the stress or pain you could experience while trying to sell at a time when there is a high supply in the market.
Research also shows that house listed during the first half of May 2018 sells faster at a higher price than usual. This market is as a result of the increase in demand in the market. If you are planning on selling your house, you can read this article to determine when you can list your home and hit it big.
Best Time to Sell According to the National Data
According to Zillow, the best time to sell a house at a higher rate and within a limited timeframe is in the first half of May, the spring period. The spring often attracts more potential buyers especially in the area with the four seasons. At this time, the flowers will be blooming while the grasses will be green. Unfortunately, this might not work in some areas where there is high competition. Thus, it would help if you worked with the locals to understand the factors that determine price and market in such an area.
The National data also shows that there is usually a low demand when mortgage price skyrocket. Saturday and Sunday are the best days of the week to list a home. People are always eager to go out to check new houses.
Is the Spring the Best Period to Sell Your House?
Though, spring is the popular period to sell a home; it does not apply in some area. The fact that the spring season is warmer makes it easier for people to be more willing to explore. Apart from this, home remodeling is usually easier at this time. Most families always choose to move out of their house during the summer. The decision is usually premised on the school year of the children.
On the other hand, you might be making a bad decision by choosing to sell your house during the Spring if you have many competitors in your area. Selling during this time will work against you if your home does not have any unique features to attract buyers. However, if you sell the house at a time when there is low demand, you might not command a higher price.
Is Summer the Best Time to Sell Your Home?
Just like spring, summer is one of the best time to sell your house. Most families prefer to move to a new place during this period so that they will not disrupt the children school year. In addition to this, most people have fewer works during this period. Thus, it is easier to search for a home.
This period might not be as good as the spring as many potential buyers might be out of town. Apart from this, potential buyers might find it difficult to search for home because of the unpleasant hot weather at that period in case there is an extreme summer.
Is Winter the Best Period?
The real estate industry usually records the least number of potential buyers during the winter. The reason for this is not far from the harsh weather of the period. As a result, many people often choose to hibernate thereby reducing the number of active potential buyers for your listed home.
Some buyers often choose not to buy at this time because the true nature of the building might be hard to determine. However, you can command a higher price if there are few competitors in the market and a buyer is eager and ready to move in quickly. This situation does not, however, come all the time.
Is Fall the Best Period to Sell?
The bulk of your potential buyers during this period are those without school-aged children who are interested in moving before the cold sets in. The lack of competition will also work to your advantage as you would be able to command a higher price when you encounter a buyer who is willing to move in quickly.
If the selling point of your home is in a school district, this period is not the best. This is because most families with children will not be interested in changing their home because they do not want to disrupt their children school.
Selling your home might take much time if you do not study the factors affecting property in your area. Some property will sell faster during the fall compared to other property. If you examine the factors affecting the sales of property in your area, you will sell your building quickly.