The number of homes being sold is currently lower than half of the homes on the market last year. While the pandemic has accelerated the strange patterns of the current housing market, it’s not the only thing to blame. That’s why if you’re currently asking yourself, ‘should I sell my house now?” the following insight will provide you with the best time of year to sell a house.
Despite the commitment, time, effort, and energy put into selling a home, there are ways to be strategic about it. You can get more money and have an easier time selling a house quickly if you know the right time to put it for sale. So, keep reading to find out just when to sell a house.
Best Time of Year to Sell a House
When is the best time to sell a house? According to national statistics, March has triumphed over May as the best month to sell a house. July is marked as the most profitable month you could sell your home, but homes are being sold the quickest during March.
Mid-March is the perfect time to sell a house the quickest. If you list your home for sale before mid-late April, you’re more likely to receive higher than asking pay for the home.
October is generally a bad month to put your house on the market, especially if it’s defined as being a family home. Many people have already settled into the school year at this point and do not move at this time of year. If you do sell your home in October, be prepared to accept an offer lower than your asking point.
As with any market, conditions fluctuate based on what’s going on locally, nationally, and globally. The pandemic has resulted in outliers of information as far as the housing market goes. Otherwise, factors such as job outlooks, economic hardships, and the expansion and growth of a city can influence when the best time to sell is.
Selling by Season
While there might not be as big of a boom as in the past of people rushing to buy homes after winter is over, due to the pandemic, spring is usually home-buying season. This makes sense for a number of reasons. Tax refunds may play a part in this, as families gain some extra money in their accounts post-holiday season.
The beautiful weather of spring also opens up new doors of potential and change in many people’s lives. The air of spring can lead people to buy a house during this season, especially people with kids who will soon be out of school for the break during the summer.
Selling a house in the summer is also popular amongst homeowners and buyers. Many parents find themselves having more time to look around as they aren’t keeping up with the hustle and bustle that school and after-school activities bring.
The fall is an interesting time to sell a home. It won’t be as busy as the spring or summer, but there’s still good potential. Certain people moving from a job transfer or other unforeseen life circumstances may be in desperate need of a home during this time.
However, this leads to offers lower than your asking price due to the buyer’s urgency, potential hard financial position if they were laid off, and few offers you have on your home.
Unless you live in a climate that is warm all the time, winter is the worst season to sell in. Most people are settled for the year at this point. But, if you live somewhere warm, selling during the winter can be a good idea.
Some people may be searching for a winter home which they can find from you.
Selling When You’re Ready
No matter what the statistics say, have confidence that the best time of the year to sell a house is when you’re completely ready. Selling a house is a huge deal. It involves a tumultuous process that might be daunting on your emotions and mental state.
Certain lifestyle changes influence when you are ready to sell, such as a shift in family dynamics, whether you’re expecting a child or needing to downsize.
Houses have memories attached to them. Make sure you’re emotionally prepared before finalizing any decisions. Perhaps you have an empty nest now, and your home is too large.
It can take time to recover from the mixed emotions you feel without your kids keeping you company. Allow yourself the time to process your emotions before you jump into selling.
Maybe you’re selling, hoping to gain the most financial benefits possible. Many homes gain in equity depending on the location and how many renovations you’ve made over the years. With all of this in mind, in combination with using the best time of the year to sell your home, you can get the most out of your money easily.
You can figure out how to sell house fast by taking these factors into consideration.
Sell Your Home
No matter what, take your time when deciding when to sell your home. Keep in mind the tips from the best time of year to sell a house to make the process as easy on you as it could be. Even if you’re trying to sell your home under time-sensitive conditions, keep an awareness of the market trends and which types of buyers you’ll be dealing with at different times of the year.
Good luck with selling your home. For more insight on how to maximize the most out of any situation, check out our blog page titled ‘Tips and Tricks.’