One of the most common questions that linger in the minds of home sellers is, "When is the best time to sell my house?" While the answer may vary depending on individual circumstances, general patterns and trends can offer valuable insights. According to ATTOM, you can sell your home for thousands of dollars more in the spring and early summer than in the winter. So, let's delve into this topic and guide you through the journey of selling your home for the most money possible.
Best Months to Sell
Before making a decision, it's important to consider which months offer the most advantageous circumstances. In this regard, let's take a look at a table of historical data which can illuminate some significant trends.
|
Month |
Median Sales Price |
Median AVM |
Seller Premium |
|
May |
$208,273 |
$185,000 |
12.6% |
|
June |
$217,703 |
$196,702 |
10.7% |
|
July |
$219,900 |
$200,000 |
10.0% |
|
April |
$202,000 |
$185,000 |
9.2% |
|
March |
$197,500 |
$181,283 |
8.9% |
|
September |
$215,000 |
$199,214 |
7.9% |
|
February |
$188,500 |
$174,666 |
7.9% |
|
August |
$215,700 |
$200,000 |
7.9% |
|
December |
$213,564 |
$201,000 |
6.3% |
|
January |
$187,000 |
$176,040 |
6.2% |
|
November |
$213,300 |
$201,000 |
6.1% |
|
October |
$210,375 |
$200,000 |
5.2% |
Seasonal considerations for selling your home
The allure of autumn
While autumn may seem like a less popular time to sell a house, it has its advantages. Serious buyers are likely to be scouting homes, and with fewer homes on the market, you can expect less competition. Additionally, the housing market tends to stabilize, making it easier to predict your home's market value.
Winter's frosty appeal
Winter months might not be the first choice for many homeowners, but they do have unique advantages. With fewer homes on the market, there's less competition, which can make it easier to negotiate. While the pool of potential buyers may be smaller, those who are shopping during the cold months are often very motivated. Remember, you'll be selling during a period of less activity, but those who are looking are usually keen to close the deal.
Spring blossoms and home sales
There's a surge of energy and optimism as flowers bloom and daylight savings time gives us longer evenings. Spring is often considered the best time to sell a house. Many buyers emerge from their winter hibernation, eager for something new. Also, families often start looking in the spring to be well-prepared for a move when the school year ends. Plus, your property is likely to look its best, making home tours even more appealing.
Summer’s sunny disposition
While the market can slow down a little as people go on vacation, the summer months are still very active. Schools are out, and families are looking to make a move before the new school year begins. Homes sell relatively quickly, especially in peak market conditions. With the warmer weather, it’s easier to stage the home in its tip-top shape, increasing its appeal to potential buyers.
Navigating market conditions for maximum profit
What to do when buyers hold the reins
If you find yourself in a buyer's market, it's crucial to work with a qualified real estate agent who understands your local housing market. They can provide valuable advice on how to make your home stand out, even when there are many other options for potential buyers.
Timing for a seller's paradise
In a seller's market, it's the best time to sell, as buyer demand is high, and the average selling price for homes is often above the asking price. Your real estate agent can help you navigate the influx of many buyers and ensure a successful sale.
Capitalize on falling mortgage rates
Mortgage rates can dramatically affect buyer demand. When rates drop, it stimulates the market, creating a surge of potential buyers. This is an excellent time to sell, as the increase in demand often drives up home prices, helping you secure top dollar for your property.
When Is the Right Time to Sell Your House?
When You Need a Lifestyle Change
There are moments in life when change isn't just desirable; it's necessary. Maybe you're feeling cramped in a smaller space as your family grows, or perhaps you're yearning for a smaller, cozier home now that the kids have moved out. When your current residence no longer fits your lifestyle, it's a sign that the best time to sell your house has arrived. A new chapter awaits, and it starts with putting up that "For Sale" sign.
You've Completed All Your Repairs
No one wants to buy a home that's falling apart, and most people don't want to sell one that way either. If you've checked off every box on your repair list, you're in top financial shape for a move. A well-maintained home is a magnet for serious buyers and can command a higher price on the local housing market. Remember, fixing repairs early is advised; otherwise, you risk potential buyers overestimating repair costs and undervaluing your home.
You're Financially Prepared
Let's face it, selling a house and moving involves more than just emotional readiness; you need to be financially prepared too. You've likely built up some equity in your home, and the housing market conditions may be favorable. Maybe you've gotten a promotion, or perhaps you've saved enough to make that dream move finally. When your finances are in tip-top shape, it signals that the best time to sell and make the most money is now.
About Eric Schmitt
Eric Schmitt is a Marin County native with an impressive track record, boasting over a decade of experience in both luxury sales and real estate investment. If you're looking to buy or sell a home or have any questions about the California real estate market, contact Eric Schmitt today.
*Header photo courtesy of Eric Schmitt
