When the thought of selling your house comes to mind, the next most pressing question is undoubtedly: "When is the best time to sell?" It's a crucial question because the answer can make a world of difference in terms of profit and convenience. According to ATTOM, you can sell your home for thousands of dollars more in the spring and early summer than in the winter. This article aims to guide you through the different factors influencing the ideal timing for a home sale, making the process smoother and more lucrative.
Best Months to Sell
The canvas of the calendar year paints vivid portraits of buyer demand and seller premiums. Each month, with its unique hue and cadence, offers distinct advantages to potential sellers. The data from 2011 to 2021 gives a panoramic view of the ebbs and flows, revealing the best months to clinch the highest median sale price. The table below offers a snapshot of this decade-long dance between home sellers and their prospective buyers:
| 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% |
The seasons and selling your home
Selling in the autumn
Autumn, a season of warm hues and a gentle embrace of cool winds, offers a unique backdrop for home sellers. It’s a time when nature paints a picturesque setting, beckoning house hunters to envision cozy evenings by the fireplace. As the festivities approach, buyers looking in this season are usually driven by purpose and urgency, keen on nestling into their new abode before winter sets in. With the rhythm of the school year in full swing, families relocating aim for a seamless transition, making autumn an opportune time to capitalize on such motivations.
Venturing a winter sale
The winter, blanketed with snow and serenaded by holiday melodies, might seem counterintuitive for home sales. But this season holds its own charm. With a scarcity of listings, your home becomes a rare gem in a market of limited choices. Those braving the cold to hunt for houses are not just casual lookers but dedicated buyers, often ready to close deals swiftly. The ambiance of a winter home, warm and inviting, can evoke strong emotional connections, potentially nudging winter buyers closer to your desired asking price.
Springing into sales
Spring is like nature's reawakening, a symphony of colors, fragrances, and renewed energy. Historically recognized as one of the prime times to venture into the housing market, the season resonates with hope and new beginnings. Buyers, infused with the vibrancy of spring and often powered by tax returns, embark on their home quest with enthusiasm. Your home, set against the backdrop of blossoming flowers and clear blue skies, can be the dream home many are seeking.
Soaking up summer sales
Summer, with its golden sunshine and extended daylight, presents a bustling stage for home sales. School's out, and families on the move are in search of their next haven. This season, with its leisurely pace, offers buyers the luxury of time - time to tour, negotiate, and seal deals. Your sun-dappled garden and naturally lit interiors could be the very allure that fetches you the best deal.
Navigating market conditions
Navigating a buyer-centric market
In a landscape dominated by the buyers, where every open house feels like a competition, making your mark is crucial. A buyer's market demands more than just a "For Sale" sign; it's about crafting an experience. A pristine home, competitively priced, and showcased with care can be your beacon, drawing buyers and sparking interest.
Making the most in a seller-centric market
When the tables turn and sellers hold the reins, the market pulsates with energy. With buyers aplenty and homes in short supply, opportunities abound. Homes aren't just structures of brick and mortar but dreams awaiting the right owner. In such times, the essence of your home could be the compelling narrative that commands top dollar.
Seizing opportunities as mortgage rates fall
Mortgage rate shifts can ripple through the real estate realm. A dip in rates is more than a statistic; it's a clarion call for potential homeowners. As borrowing becomes more affordable, the fervor in the housing market intensifies. A keen seller, attuned to these shifts, can strategically position their home to ride this wave of heightened interest.
Pinpointing the right moment for you
Aligning with life's changes
Life, in its unpredictable beauty, often steers our decisions. Beyond market trends and financial metrics, sometimes the heart dictates the "when" of selling a home. Be it the thrill of a new career, the joy of an expanding family, or the whisper of adventure, aligning your home sale with life's milestones can bring fulfillment beyond measure.
Showcasing a ready home
A home is not just walls and roofs; it's a story waiting to be told. Before turning the page to its next chapter, ensure it's in its best form. Address the creases, mend the breaks, and let potential buyers see the home, not its to-do list. A home that's ready and radiant invites admiration and better offers.
Financial readiness
The journey of selling a home, while exciting, is intertwined with financial nuances. Beyond the listing price lies a myriad of potential expenses. Stepping into this journey with a robust financial plan ensures you're not just ready to sell but ready to thrive, maximizing returns while savoring the experience.
About Avenue Stone Real Estate
With an unwavering passion for real estate, Avenue Stone Real Estate is devoted to delivering impeccable service and achieving outstanding client results. If you're looking to buy or sell a home or have any questions about the Washington real estate market, contact Avenue Stone Real Estate today.
*Header photo courtesy of Tanya Starkel | Avenue Stone Real Estate
