Knowing when to sell a house can help you sell fast, for the most profit and less stress. Timing often depends on your location, and understanding the seasonal trends in the real estate market can help you decide when is the best time to sell.
PROS: For many markets, spring is the peak time to sell. Homes sell faster and for more money in the first two weeks of May than any other month. The days are warmer, longer, and buyers have more money after tax refunds. Buyers are also eager to close before school lets out, so they have the summer to move.
CONS: Springtime blooms competition. The market floods with homes for sale, and to stand out, sellers typically offer buyer compensations. There are fewer walkthroughs if the weather is still cold and wet, and should you sell fast, it can be difficult to move if the kids are still in school.
PROS: Summer is a great time to sell if you live in a popular tourist destination. Buyers looking for a summer home or new retirees looking to downsize eagerly shop the market, feeling a sense of urgency to close fast before the fall season.
CONS: Summer vacation can mean a slow buyer turnout. Buyers are out traveling, having fun, and the few buyers you attract may demand more concessions and features, sensing the lack of competition and your desire to sell.
PROS: Fall is neither the best nor the worst time to sell a house. The market slows down, so there is less competition, and buyers feel motivated to close before the winter holidays. Moreover, the costs for repairs and renovations are at their lowest.
CONS: In autumn, leaves fall, but buyer demands rise. Most buyers are preparing for the coming holidays and prefer to spend their money on gifts and festivities rather than a new home unless you offer them enticing incentives.
PROS: Winter is not a bad time to sell a house. There is often less competition, and buyers are highly motivated to close before the year-end to take advantage of tax breaks. Should you live in a resort area or ski town, you will meet more buyers looking for winter homes, but they may have more demands.
CONS: Winter is the holiday season. Buyers are engaged in seasonal fun. If you try to sell, you will have to depersonalize living spaces and decorate less, and you may have to navigate walkthroughs with your family over. The days are colder, shorter, and winter is the worst time to make repairs and renovations.
Life happens, and you may not have a choice as to when you sell. If you need to sell fast and skip buyer negotiations, consider selling your house to an investor. Most investors will make a cash offer regardless of the time of year, weather, or market trends. You can enjoy a quick closing and find time for your next move.