Selling your beloved home can be a complex and stressful endeavor, with several moving parts and numerous factors to take into the equation. One of the most crucial decisions that homeowners face is determining the best time to sell their property if they want to achieve the highest return on investment.
Whether you're hoping to maximize your profits or minimize stress, getting the timing right is imperative to achieving your goals.
So, when is the best time to sell a home?
Based on historical trends, the late spring and early summer see the highest activity from buyers. According to the NAR
, about 40% of total home sales for the entire year take place from May through August. Thus, selling in these months typically yields higher premiums and a faster sale.
However, it is essential to consider the local market circumstances and personal factors when determining the optimal timing for listing your home. Factors like job growth, mortgage rates, and tax incentives can influence the local market, while personal factors, such as a new job or family changes, should also be considered. Ultimately, the right time to sell has to be the right time for you
Researching the local market and hiring a trusted agent is the most effective way to determine the best time to list a home. Your agent will work with you to devise a strong selling strategy, no matter the time of the year.
Pros and cons of selling in various seasons
To determine the best time to sell your home, let’s take a closer look at selling within each season.
Selling a home in the winter: braving the elements
Selling a house during winter can be challenging due to reduced buyer activity and harsh weather conditions in certain regions. November through February is considered the “slow season,” accounting for only 68%
of the sales activity we see in peak season. While some buyers may be motivated by year-end tax incentives or wanting to move before the start of the new year, many are deterred by the holidays, colder temperatures, and potential snowstorms. Also, homes may not show as well in winter, with less natural light, dormant landscaping, and snow cover.
While winter may not be the most popular time to sell, you will likely encounter fewer competing properties on the market. Although many buyers are busy with holiday plans or travel in the winter season, buyers who are out there seeking homes during this time are likely highly motivated. For those who must sell during this time, you will see less market competition and serious buyers willing to brave the elements for a good deal. Although your home might spend more time on the market overall, your agent will guide you through the selling journey with exceptional marketing solutions to improve your outreach.
Selling a home in the spring: gorgeous curb appeal
Due to more favorable weather conditions and increased buyer activity, spring is a popular season for homeowners to list their properties on the market. With longer days and warmer temperatures, potential buyers are more likely to attend open houses and visit properties. Blooming flowers, blossoming trees, and green grass improve curb appeal. Additionally, families may be motivated to move as the end of the school year approaches.
Selling a home in the summer: buyers galore
The summer presents a unique opportunity for homeowners to capitalize on increased buyer interest. Spring and summer are considered “peak” selling seasons, especially in June
. Warm temperatures and longer daylight hours often entice potential buyers to attend open houses and view properties, while families may be looking to relocate before the start of the new school year. Thus, your summer listing will likely receive plenty of interest from prospective buyers.
That said, competition can also be fierce between sellers during this time, so it’s essential that your home stands out above all the rest. Your agent will devise a competitive and accurate list price and market all of your home’s most notable features.
Selling a house in the fall: sometimes a challenge
Autumn presents a challenging time for homeowners, as the impending colder weather and shorter days often deter potential buyers from attending open houses or scheduling viewings, reducing the pool of interested parties.
Selling in the fall can be an effective strategy, however, as some buyers are hoping to move before the winter weather sets in. Although this season is not as busy as the spring and summer, and you may see a decrease in overall buyer interest, selling in autumn can be streamlined and stress-free with the right agent by your side.
How to know if it's the right time for your circumstances
To decide whether or not it’s the right time to sell your house, you must evaluate various factors, such as lifestyle changes, your financial situation, and family and school considerations. For instance, if you're in the midst of a significant change in your life, such as a new job or addition to the family, now might be the perfect time to begin looking at other properties and move on to something new.
Selling may also be a viable option if you need to downsize due to financial constraints or if you’re looking for an upgrade due to increased income. Lastly, families with school-aged children may want to consider timing their sales around the academic calendar for a smoother transition.
Are you ready to take that step?
If you are hoping for expert guidance along your home selling journey, reach out to the best of the best. Contact principal broker Debbie Brand
of Town & Country Realty for the advice you can count on. From Corvallis and Philomath to Lebanon and Albany, Oregon, real estate, Debbie
has the skills and insight to guide you toward making wise selling decisions. Reach out to Debbie when you’re ready to achieve a winning sale.
*Header photo courtesy of Shutterstock