One of the biggest queries we receive about sellers living is about when is an ideal time to sell their home. Similar to other sectors, the amount of home sales fluctuates and flows according to the season.
The real estate seasons
The spring months are typically the start of the busiest period of season for home sales and purchasing nationally. This is also true for the metropolitan area too as there’s a significant increase in sales taking place in March, with the peak occurring in May, and then continuing to grow through the summer’s end. The winter and fall seasons are generally considered to be off-seasons in many areas However, because of the exceptional weather that experiences during its winter months, there’s not typically a dramatic drop in home sales towards the close of the year.
If you examine the data on home sales from this year , you’ll be able to discern the seasonal trends in a clear way. Although February and January are generally slow months, there’s been an evident increase in sales between March and June.
MLS information from the year 2016 provides the same image. The number of homes sold increased dramatically in March and continued to rise until June. Note that there were over 7000 homes sold in December, which typically is slow in colder climates.
Why do we have summer and spring?
You may be wondering why people would be looking for houses in the midst of triple-digit temperatures -and we don’t blame anyone. The primary reason is that families are trying to move while their children are off school. There’s plenty of daylight to search for a house at this time of year There are those who believe that houses are most attractive in springtime as the flowers are blooming.
There are benefits to Selling House during high-season. Due to the higher amount of sellers homes, you could have more sales available to compare home prices. A higher number of sales can mean greater chances of getting a home that has recently sold that is comparable to yours.
There are also more potential buyers in this time of year so there are more chances of buyers making offers on your property are higher. If you’re lucky, buyers could be in a bidding war which typically means more cash on your hands due to a greater price or a decrease in the concessions to buyers you have to pay. A drawback to be aware of is that buyers are able to be more selective at this time of year because there are more houses to select from.
In the event that you’re selling at a peak season, it’s likely that you’re also buying. It is important to know that the same advantages you enjoy as a seller could end up being disadvantages for the buyer. For example, as the buyer, you could pay more, and getting less concessions during peak times.
If you’re caught in a pinch and you need to sell your house during a different time than the peak season, don’t fret. Homes that are priced well are sold all year long. Each homeowner’s situation is different. For instance, you might have to sell your home in a shorter time frame in case you’re moving to the start of a new career. Perhaps you bought your house at the peak of the market and you’ll have to be patient and wait for the perfect date to gain the greatest worth from the purchase.
Pay close attention to the market
Even though it’s technically the time of year when most sellers are selling, it does not mean that you have to hurry into selling your house. Prior to deciding whether or not you want to sell your home, take a look at the price that similar homes are going in your region.
It is possible to determine the market’s condition by a variety of variables, such as low interest rates on mortgages as well as a robust local economy, and an increase in the number of home sales. Alongside the state of the local real estate market You should also consider your own personal circumstances into consideration. Here are some indicators that suggest it’s a good time to sellyour home:
We’ve addressed “the top 10 questions home sellers should ask themselves”. If you’re interested in knowing the value of your home, consider the ways you can make use of the offer of Selling House as an easy method to begin pricing your home.
What is the most ideal moment to market?
If you’re seeking the chance to attract more offers and offer less concessions, think about selling your house in the the latter part of spring. The chart above illustrates the majority of houses in the region are sold between the months between April and May. It’s the perfect time to make the most of your sales.