If you’re thinking about selling your home, you may be wondering when the best time to list it is. Timing can be critical when selling a home, as it can affect the sale price and the length of time the property spends on the market. In this article, we’ll explore the factors that influence the best time to list your home.
When is the best time to sell a house?
Selling a home is a big decision and timing is crucial. The best time to sell a home varies based on several factors. According to last year’s report from ATTOM Data Solutions, the peak months to sell a home were May, June and July. These months offer the highest seller premium, with thousands of dollars more compared to the slower months of October and December. The seller premium is the amount that exceeds the market value of the home.
The data showed that May is the best month to sell, with homes selling for a median sales price of $208,273 and a median AVM of $185,000, resulting in a seller premium of 12.6 percent. June and July are the second and third best months to sell, respectively, with seller premiums of 10.7 percent and 10 percent. April and March follow closely behind, with seller premiums of 9.2 percent and 8.9 percent, respectively.
On the other hand, October and December are the two worst months to sell, with seller premiums of 5.2 percent and 6.3 percent, respectively. January and November follow closely behind with seller premiums of 6.2 percent and 6.1 percent, respectively. It’s worth noting that the seller premium for each month is still positive, meaning sellers can still earn more than the market value of their homes during these months.
However, premiums are significantly lower during the worst months to sell, so it is important for sellers to take this into account when deciding when to list their homes. Furthermore, the table reveals that the summer months of May, June, July and August see the highest number of purchase transactions, with almost 17 million transactions during this period. This underlines the fact that summer is the best time to sell a home, as there is a higher demand for housing during this period.
It is also interesting to note that the seller premium for each month is relatively constant across regions, although there is some variation. For example, in the South and West, where temperatures are moderate, there is less discrepancy between peak and off-peak seasons. In contrast, in the Midwest and Northeast, there is more disparity between summer and winter.
Spring and summer are the best seasons to sell a house
Spring and summer are typically the best seasons to sell a home. During this time, the weather is good, especially for those who live in colder climates. Families also want to purchase their next home before school starts. Daylight saving time can also help spur buying activity. Longer days provide more exposure to properties for sale, leading to more offers.
Fall and winter are the worst seasons to sell a home. Seller premiums drop in September, and in winter, home buying takes a backseat. During this time, buyers are busy with the start of the busy holiday season and the weather is not conducive to house hunting.
If you’re thinking about selling your home, it’s critical to consider the buyer’s situation. Home buyers with a deadline, such as those who want to purchase a home before the school year starts, are most active in the spring and summer. If you want to sell your home during this time, you should list it before school starts.
To successfully sell your home, you need to be in an optimal financial situation. You should check your credit and debt-to-income ratio to ensure that you are in a strong position to get a mortgage pre-approval. This will ensure that your efforts are not delayed. It is also crucial to compare different loans before you start looking for a home. This will give you a good idea of
In conclusion, the best time to sell a house is in late spring and early summer, in May, June, and July. During this period, the weather is suitable, and buyers are most active. However, you should take into account your region, your buyer’s situation, and your financial situation before deciding when is the best time is to sell your house.
The best time to sell a house
Last year, Realtor.comยฎ crunched the numbers and identified the week of April 16-22 as the best week to list your home. During this week, home prices are expected to be $8,400 higher than a typical week and a whopping $48,000 higher than prices in early 2023. Real estate listings are also expected to receive 16.4% more views than a typical week. Additionally, homes are projected to come off the market 18% faster than an average week, making it an ideal time for sellers who want a quick sale at a higher price.
Realtor.com economics team came to this conclusion after examining market performance from 2018 to 2023. They took into account competition from other sellers, the length of time a home was on the market, views per property, list prices, and the likelihood of price reductions.
Even though the current housing market is tepid at best, buyers remain desperate for new listings. New listings have fallen for 35 consecutive weeks, with a 26% drop in the week ending March 4. Overall inventory also remains 50% below pre-pandemic norms.
Sellers who are willing to counter this pent-up demand will likely be rewarded, as savvy buyers know not to hesitate if a good home comes on the market. However, if every seller knows the best week to list a home, an indecisive homeowner might worry that there is a glut of homes on the market, further complicating the competition.
Fortunately, the market is about to enter its prime for homebuyers with families, who typically want to move well before the start of the new school year. So, entering the market during the prime week gives sellers a great opportunity to capture buyers’ attention before sales activity is in full swing.
Despite the recent market downturn, homes that are move-in ready and located in desirable locations continue to sell quickly and attract โsubstantial attention.โ However, it is important for sellers to list their homes at a thoughtful price and to seek out local information. They should familiarize themselves with their local market and work closely with a local agent to ensure their listing is appealing to buyers. Buyers feeling the pressure of affordability are likely to be more discerning, so a well-priced and well-maintained home is the key to generating high demand.
