Over the years, this would have to be in the top 5 questions I've had from buyers and sellers alike. The common perception of most sellers I talk to is that Spring is the obvious time - nicer weather, flowers are blooming, etc., and certainly it is the most popular time of year to sell. Also, many families with children like the idea of getting the move done over the kid's summer vacation. With the uncertain market times these days, that can be a little hit or miss. But, is Spring really the best time to sell?
While there are typically more sales as Spring rolls around, there's also a lot more competition. The reality is that any time of year can be a good time to sell if your home shows well, and is priced competitively with the market, but I think there is something to be said for lisitng in January and February. Looking back at my own sales over the years, I've had great success in the first two months of the year. There is typically much less competition, and many potential home buyers are coming out of their holiday season hibernation with an excitement about getting back into the market. Maybe it's a little bit of holiday euphoria left over, and the fact that our Winters can be quite mild, but each year, regardless of an up or down market, I've found open houses to be busier and have had great success in getting listings sold. In the down market we've had the past few years, I've found that to be especially true. Any new listings I've taken after tax day seem to get caught up in a wave of other comparable homes for sale, and increased buyer apathy, leading to price reductions and longer market times. In a seller's market like we had a few years ago, any house would sell at any time of year, but in these slower times, sellers would be smart to consider the option of going to market earlier than the widely accpeted "Spring selling season".
For buyers on the other hand, my advice has always been the same. If there is a good time of year to buy to get the best deal, it would be between Halloween and Christmas. Sellers that are generally selling during this period are usually doing so out of necessity - job transfer or other family reasons are most likely - and are usually more motivated to finalize a sale. Each year, in our marketplace, the median home price dips slightly in the 4th quarter. Inventory is typically lower during this period, so the number of options may be more limited, but if you can find what you're looking for, you're likely to have less competition from other buyers and find yourself in a better negotiating position than in other times of the year.
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