With most things in life, timing is everything. It’s no different when it comes to selling a house. Picking the right time to sell a house can mean much fewer days on the market and much more money in your pocket. After all, home sale prices tend to fluctuate depending on a number of factors. So, when is the best time to sell a house?
Continue reading below as we reveal when you should be putting a “For Sale” sign up in your front yard!
The Best Month to Sell A House
You may think that the best time to make a real estate transaction would be during the holidays since everyone seems to have more time on their hands. However, a busy holiday season actually complicates the entire process – combine it with the beginning of the school year, and you’ll soon notice you have trouble attracting serious buyers. The season you are most likely to enjoy the outdoors is spring. So it should come as no surprise that the best month to sell a house is May.
If you’re located in the 25 largest metro areas in the United States, you are likely to sell your home nearly 19 days faster in the first half of May than at any other time of the year. And what’s more, you can also sell your property for about 1% more in early May!
While favorable weather conditions play a major role in May home sales, other factors, such as anxiety over not being able to find a home or wanting to be settled before the end of summer vacation or before the new school year starts, make this month the best time to sell a house.
Even though May is the best month to sell a home for an average seller, you can also get a pretty fair rate of return in other months, depending on the climate you live in. For example, if you live in a warm, southwest climate, snowbirds in town for the winter months could very likely be looking to purchase a property. Conversely, those relocating for winter work could be interested in your house in the fall.
The Best Day to Sell A House
If you’re trying to sell a house, you’d probably like to put it on the market as soon as possible. In many cases, that would mean right at the beginning of the week, first thing Monday morning. However, did you know the best day to put your home on the market is actually Thursday?
Most potential buyers look at homes over the weekend, so they begin the scouting process on Thursdays. Sure, your ad will still appear in front of buyers shopping for their dream home if you put it up early in the week, but it will be pushed down the latest results page.
Also, it’s better to list real estate in the early afternoon or evening on Thursday to ensure you will appear on the first page of search results. Listing early on Thursday could push you as far down to the second page, way behind other pending home sales.
The Best Season to Sell A House
According to real estate market experts, there are several factors that influence when the best time to sell a house. In general, selling during the peak season (in most areas of the U.S., this means spring and early summer) usually translates into higher prices and a faster sale. In some home-selling markets, summer is considered the best time to list your home for sale.
This is because families with children are typically out of school and have more flexibility to move during this time. The weather is also nicer, which makes the house-hunting process more enjoyable. In addition, there are typically fewer homes on the market during the summer months, giving your home a better chance to stand out.
The Worst Season to Sell a Home
The worst time to sell a home is the winter months. This is due to various factors, including poor weather conditions and fewer buyers in the market. In particular, there’s a big drop-off in buyer demand after the holidays. Still, if you really need to sell your house in winter and you happen to live in a nice location with a warm climate, you’re sure to find some winter buyers ready to purchase a property to weather the cold season.
Other Factors to Consider When Selling A Home
There are several other factors besides seasonality to consider when selling a home. For instance, it’s never a bad idea to put a home on the market when the local job rate is on the rise. No matter the time of year, there will always be plenty of people looking for housing as they relocate to your area for new job opportunities – and it doesn’t have to be during peak market conditions.
If you want to better understand your local market, you should also keep an eye on mortgage rates. New and first-time buyers are especially eager to buy when rates are low. The same goes for any new tax incentives for buyers, so monitor any potential local, county, or state laws that may be on future ballots.
That said, here are some key factors to consider when selling a home.
The location of your home is one of the most important factors in determining its value. You can expect your home to be worth more if you live in a desirable neighborhood than if it were located in a less sought-after area. Prospective buyers are going to pay close attention to the location also when they have school-aged kids.
The size of your home is another important factor that potential buyers will take into account when making an offer on your property. Obviously, a larger house will be worth more than a smaller one, but keep in mind that square footage isn’t everything. Oftentimes, homes with fewer bedrooms and bathrooms can be worth more than larger homes, depending on the area. A functional layout, a balcony, or a lovely garden are among other factors that may attract many buyers.
The age of your home is also a factor that must be taken into consideration when setting a price. In general, older homes are worth less than newer ones. This is because, over time, homes tend to fall into disrepair and will require more maintenance than newer homes. Newer properties with better curb appeal are bound to attract buyers and lead to a quick sale.
The condition of your home will also affect how much money you can expect to receive from a sale. If your home requires significant repairs, it will be worth less than a similar home that is in good condition. Don’t underestimate the importance of curb appeal since it can significantly increase the listing price.
Another factor that affects timing is the price point. If you live in an area where prices are rising quickly and many buyers compete with each other, it may make sense for you to list later in the year when the demand has tapered off. This will help ensure that buyers have fewer options available when they come looking at homes like yours.
Market conditions play an important role in determining when is the best for you to sell your home. Generally, you’ll sell your home for more money when market conditions are favorable. For example, if there is a low inventory of homes for sale and/or high demand from buyers (i.e. a “seller’s market”), then you may be able to command a higher price for your home.
On the other hand, in an unfavorable market (i.e., “buyer’s market”), where there are many homes available and not as much competition from buyers vying to purchase them, you may have to lower your asking price and close on a sale.
Generally speaking, when trying to sell your home, it’s important to consider the local housing market. If you are unable to sell your home because there are a lot of similar properties for sale in the area, you may have to lower your initial asking price.
Tips for Selling a House
Selling a house can be an overwhelming process. There are so many details to consider, and you need to make sure that you’re covering all of them. But if you take the time to plan ahead and do your research, selling your home can be a smooth and rewarding experience. Here are some tips for selling a house:
Plan Early And Prepare Your House For Sale
The first step in selling your house is preparing it for sale. You should start by making any necessary repairs or upgrades to make your home more appealing to buyers. This can include painting walls or replacing appliances but also might involve bigger projects like remodeling the kitchen or bathroom. When you’re ready to list the home, hire an inspection company to perform a thorough inspection of the property so that potential buyers know exactly what they’re getting into when they buy your home.
Set Up an Open House
Set up an open house and be prepared to answer any questions potential buyers might have about your home and the neighborhood. The more you know about your property, the better prepared you’ll be to answer questions, so try to get as much information as possible before your open house or showings.
Get Professional Help When Selling A House
If you haven’t sold a house before, you may want to hire a real estate agent to help with the process and explain the ins and outs of the housing market. Real estate agents know everything there is to know about selling houses and can help guide you through all of the steps involved in selling a home, including creating an attractive listing, staging rooms using furniture and accessories that appeal to potential buyers, negotiating offers, and helping you through the closing process.
It’s Always A Great Time to Sell A House with Highest Cash Offer!
There’s never a bad time to sell a house with Highest Cash Offer!
Not everyone has the luxury of waiting until the spring to put a house on the market and make the home sale happen right away. Fortunately, we buy houses seven days a week, 365 days a year!
And what’s more, there are no listings to create, real estate agents to hire or repairs to make! We will buy your house AS-IS with a fair, ALL CASH offer!
If you need to sell a home right away, contact Highest Cash Offer today!