When’s the Best Time to Sell a House? Is Now a Good Time to Sell?
The best time to sell a house coincides with the best time to buy a house. Find out when the season for real estate is and how to pounce on the market.
Selling a home is often not an easy process. In fact, trying to sell a home often brings a significant amount of stress.
But, you can make your life a whole lot easier if you look for the signs to tell you that it’s the best time to sell a house.
Not sure where to start? Don’t worry, we got you covered.
Let’s take a look at everything you need to know.
Warmer Months Are Ideal
While it may come as a surprise to some people, warmer months are the best times to put your home on the market.
Why? Well, there are a few factors at work here.
For one, it’s easier for people with children to relocate during the summer while their kids are out of school. That way they can get a fresh start in a new area and also have plenty of time to adjust to their surroundings.
Colder months are times when people typically stay indoors and feel sluggish. After all, seasonal depression is a real thing.
With the weather gloomy and bitter during winter months, most people simply aren’t in the mood to go house shopping. People’s homes also tend to have a poorer appearance during winter due to the surrounding landscape.
Late spring/early summer is also the time when people get their tax refunds, which often give them the extra finances they need to make a large purchase.
Sell in A Seller’s Market
It’s called a seller’s market for a reason. Selling under these market conditions will ensure that there are plenty of hungry buyers looking for a home. You’ll also often sell your home faster and for more money.
But, you’re going to need to know how to recognize when it’s a seller’s market if you want to take advantage of it.
The most objective way to do so is to use resources to check the local real estate inventory in your area. You also need to check how often homes are sold.
Let’s take a look at a brief example.
David is trying to figure out if the market is in a good spot before he tries to sell his home.
He checks his local listings and finds that over the past few months there have been approximately 20 listed homes and 20 sales per month.
With this information (combined with the fact that summer is approaching), David concludes that it’s currently a seller’s market and that he should put his home up for sale as soon as possible. Sure enough, he finds a buyer shortly after listing and can begin to move forward with the selling process.
The state of the market plays an undeniably huge role in whether or not it’s time to sell, so make sure to do your research.
The Surrounding Area Is Being Developed
With more development comes more businesses. And, those businesses are going to need employees.
If land near you has been in development and is coming to completion, you may want to consider listing your home if you’ve been sitting on the idea of selling. As more people move into the area, you’ll find a buyer in no time.
Recognizing this situation can ensure that you sell quickly and for a good price. The same applies to when the local economy is experiencing an upward trend. The bottom line is that more jobs equal more people migrating to the area.
When Mortgage Rates Are Low
When mortgage rates are low, people want to buy. Even if rates were to increase by half of a percent, the buyer will have to stretch their budget that much further.
Mortgage rates have been exceptionally low in recent years, which is especially good news to those who are planning on purchasing their first home. Since mortgage rates are projected to slowly creep up, buyers may be tempted to buy sooner rather than later.
So, keep an eye on these numbers before you decide to sell. The lower the better, and even marginal changes upward or downward could make a difference.
Tips For Selling Faster
So, you’ve decided it’s the right time to sell but want to sell as fast as possible.
Read on for what you can do.
Depersonalize Everything
The less clutter in your home, the better. But, the real trick here is to remove anything and everything that gives personality to your home. This means family pictures, furniture, artwork, etc.
The more “neutral” your home, the easier it is for the buyer to envision themselves living in it.
Don’t Neglect Curb Appeal
First impressions are crucial, and it’s no different when a buyer sees a home for the first time.
When they arrive at your house, you’ll want your property to look better than it ever has. This means pressure washing the exterior, trimming your lawn, and even touching up areas with paint that need it.
Price Fairly
Not hearing from any buyers? You may be asking for too much. Check your local listings to see what other similar homes in your area are going for.
In general, you should be setting the price at what the home is worth, not necessarily what you want to get out of it.
Understanding The Best Time to Sell a House Can Seem Difficult
But it doesn’t have to be.
With the above information about the best time to sell a house in mind, you’ll be well on your way to finding a buyer as fast as possible.
Want to learn more about how to sell your house fast? Make sure to check out our free guide to help get you started.