Winnetka, IL Condos For Sale

When Is The Best Time To Sell A House?

There are several ways to ensure that you can prepare to earn the highest profits when your home makes its debut on the local housing market. One tried-and-true tactic is strategically planning out the best time to sell your home. Studies of past trends reveal that certain seasons are more lucrative for sellers than others. There’s also reason to believe that market activity is traditionally lower in some months for various reasons as well. Read on to learn more about the best time to sell your home for the highest return on your investment.

When is the best time to sell a house?

Typically, sellers make the highest profits when listing their homes during the late spring or early summer. According to the National Association of Realtors, buyer activity is strongest during May, June, July, and August — these four months average 2.1 million home sales, which is 40% of the sales volume throughout the entire year.

This trend exists for a few reasons. Normally, people receive their tax returns in late April and early May. This means that they can use the extra cash to help fund their down payments. You’ll also see many parents with school-aged children shopping for homes during this time. With this time frame, they can move shortly after children finish school while still having time to unpack and settle in before classes start again in August or September. The market usually stays hot through August before beginning to taper off in September and October, leading to the lowest sales activity in November, December, January, and February. Within the “slow season,” home sales are considerably slower. In fact, sales during this time make up only 68% of the activity seen during the “peak season.”

Best time of year to sell a house

According to the National Association of Realtors, June is generally the month with the highest activity on the housing market nationwide. In most parts of the country, June provides the nicest weather. This increases the likelihood that buyers will be willing to come out and attend open houses. In addition, most students have begun summer break by this time. For these reasons, June is an optimal month for selling homes in most communities across the nation. Your realtor will help you better understand what time of year is best for you to sell your home. They will help you devise a solid selling strategy to garner the most interest in your property.

A look at selling in each season

Selling a house in the spring

You’ve already learned about some of the key reasons why homes sell at a faster pace during the spring. Sellers who list their homes during this season may receive multiple offers above the asking price. At the same time, many sellers are in tune with this trend and are well aware that spring represents the best time of year for selling their homes. For this reason, you may see more homes come onto the market around the same time frame, which can present a greater challenge for making your property stand out. The increased amount of housing inventory means that buyers have more options to choose from, and you’ll need to take steps to make sure your home is positioned well to grab buyers’ attention and make a grand entrance on the market.

Selling a house in the summer

With June as the busiest home-selling month, you may find that the summer months bring increased foot traffic to your open houses, and you may have more private tours on the calendar. With extended hours of daylight each day, your agent will likely be able to coordinate showings and tours more easily. You may see more families attending open houses, as young children will not be in school.
The disadvantage to selling in the summer is that the average high temperatures can be pretty hot depending on your location, and some buyers may find it unpleasant to spend several hours looking at homes each day during the warmer months.

Selling a house in the fall

The market usually cools off by the time fall arrives, with many parents returning to their busy schedules of taking children to and from school and juggling other tasks. The level of buyer demand isn’t as high as it was during the spring and summer, and you may notice that average sales prices in your local market tend to drop as a result.
If you do choose to sell your home during the fall, you’ll want to take marketing and staging tactics especially seriously so that you can gain a competitive advantage and generate greater interest in your available home.

Selling a house in the winter

The winter is usually the toughest time of year to complete a home sale. Many people are distracted by other activities, such as holiday plans or end-of-year work goals. Homes still sell during the winter, of course, but you may find yourself growing frustrated or impatient if it takes your home longer to go under contract than what you initially expected.
At the same time, some buyers will be eager to purchase a home before the year ends so that they can take advantage of various tax breaks or get a great start on the new year. Be prepared to negotiate with buyers who may want to throw out an offer well below the asking price to see how you’ll respond. No matter when you decide to sell, you are not doomed, and you can reach all your goals if you have the right real estate team by your side.

Ready to get started?

The Bellm | Corley Group is a top-notch team who can help you confidently determine the best time to sell your home and get started on your selling journey with confidence. They help sellers get amazing offers for their homes all throughout the year. Reach out to them for expert guidance in the selling process.

*Header photo courtesy of Shutterstock

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