When is the best time to sell?
Spring? Summer? Fall? Winter? Unfortunately there isn’t an exact science to the best time to sell a home. A quick online search will show suggestions across the board—some say spring, while others swear it’s winter. Still, it doesn’t have to be a complete shot in the dark; there are some factors to consider.
Whether putting your home on the market is definitely in your immediate future or something you’ll get around to eventually, following are some things you’ll want to keep in mind.
Landscaping: You hear a lot about “curb appeal” when it comes to real estate, and it’s true. According to the National Association of Realtors, curb appeal is important to a large majority of homebuyers—and landscaping is a big part of that. Think about how your yard looks in the dead of winter compared to mid-spring. If brown and bare trees and grass depress you, they’ll probably do the same to your listing price.
School schedule: If you or your children ever had to change schools mid-year, you know it’s something most parents want to avoid. That is why families with children typically prefer to make a move during the summer, when their kids are out of school. If moving also means buying a new home, they’ll likely want to settle in before the next school year starts.
Competition: As with any business transaction, it’s important to consider your competition. Many sellers are of the mindset that spring is the best time to sell. While it is true that there is often an influx of buyers during this time due to “cabin fever,” you may want to consider using a little reverse psychology. It all goes back to the basic principals of supply and demand. If there are a lot of homes on the market in your neighborhood, within your price range, and with similar specs, it may not be the best time to sell. Your home—and more importantly, your final selling price—will compete with buyers’ other choices. Putting your home on the market in the winter means you will likely experience less completion, which could result in a higher price.
As you can see, there are many variables to consider when determining the best time to sell. It is wise to consult with your agent to determine what strategy may be best for you.