When is a Good Time to Sell My Home?

It is common for people to take their home off the market in the fall. The belief is that homes will not sell as we approach the winter and holiday months; however, people buy homes all year round.

There has been a historic trend for the housing market to pick up in the spring and summer months, slowing in late summer and bouncing back in the fall. As November and December approach there is a decrease in market activity secondary to the holidays.

New research shows, on average, homes listed during the end of October and the new year are more likely to sell. During this time there are fewer homes on the market and the competition increases. The homes listed actually sell faster and can bring you closer to your asking price.

There are many reasons why off-season home sales increase. Some of these include:

• Less Competition: Potential buyers believe the “spring and summer” myth too. These individuals think they won’t face competition during fall and winter that can lead to bidding wars and in turn result in paying higher prices.
• Buyer Motivation: Buyers will move when needed. A new job relocation or finally reaching the downpayment they have been saving for does not depend on what time of year it is.
• Age and Situation: Census.gov reports that older adults and people without children are more likely to move during fall and winter months. Looking at the data it reveals that October rates (10.2%) are higher than May (7.5%) and comparable to July (11.2%) and September (11.5%).
• Internet: Most home buyers will start their search online. This means it does not matter the time of year or hour of the day. They are able to see pictures of your home in all seasons so they have a realistic idea of what the home looks like in a different season.

Before you decide to sell your home

Determine your needs before putting your home on the market. Do you need to move immediately? Do you have children that need to start in a new school at the beginning of the school year? If you are flexible with your timeline you can decide which season will be best to show your home’s qualities.

No matter the season you need to sell your home, a real estate professional can help you market for any season.

Do you have a HOME TO SELL? Are you LOOKING FOR THE HOME OF YOUR DREAMS?

Beth Sterner can help you with all of your Real Estate Needs! Give me a call!