Springtime is typically considered the ideal time to sell your house because it is when most transactions occur and when houses sell the fastest. However, the season influences the way demand and supply for homes fluctuate at different seasons.
Selling your house during the spring and summer seasons not only boosts your odds to sell your house more quickly; however, it also boosts the likelihood of selling your house for more than what you are asking for.
Things to consider when choosing the best time to sell
In general, selling during the months of May and June could result in a fast house sale at a greater price. Although many properties sell quicker and for more money in these months of each year does not suggest that this is the ideal time to sell.
There are some other things to think about. They include:
1. What are the consequences of not moving?
The family’s milestones, retirement, or shifts in your job could create even more urgency to relocate, frequently necessitating you to sell in the off-season.
Waiting for a better season could result in not being able to take advantage of the chance to get a job or delaying the achievement of a lifelong dream.
2. Is your house in good shape to sell?
Think about the amount of effort, money, and time it’ll be needed to get your house ready to be listed. If you’re not in a rush, selecting the appropriate renovation project is a fantastic method to increase the value of your house and boost the price of selling. On the contrary, If you’re looking to sell your house quickly, it’s advised to concentrate on minor repairs and cosmetic work that does not take too long to be completed.
You could also decide to avoid the house preparation and repair altogether. Another option is to sell your house and alter the price according to the condition of the property. You can also request an offer through one of the online marketplaces like iBuyer.
3. Does the local real estate market benefit you?
Alongside seasonal changes within the marketplace, there are also other factors at work. For example, there are times when you will see the property market described as a “buyer’s market” or a “seller’s market,” depending on the level of competition to purchase or sell.
Knowing the current market conditions is essential to choose the most appropriate timeframe to market your house.
4. Are you financially prepared to sell your house?
From the expense of agent fees, home improvements to unanticipated concessions, the cost of selling your house can be as high as 10% of the price. Therefore, it is important to consider how you will be protected from a negative experience prior to selling your house.
5. What is the total cost of buying a new house?
If you know the cost of selling your house, you can determine the price of the next property. But, naturally, the sale cost is just the beginning of the costs which will be required.
What to expect if you can’t sell in the spring
Selling during the spring definitely offers many advantages. But, unfortunately, no one can predict the exact time that it will take to sell a house. After all, it depends on where you live and your personal needs.
The best time to market your property is when that is most beneficial for you. It is well-known that houses usually sell quicker and for a price that is closer to the price they’re asking for in springtime, however, this doesn’t mean listing your property during that time of the year will assure a positive outcome.
A lot of houses that sell during the slower months like November or December were listed in spring. The homes just didn’t sell.