Everyone has heard the saying, “Timing is everything!” Well, this is especially true when it comes to selling a property. In fact, sellers can potentially make thousands of dollars more if they sell during peak months of the year. So when is the best time to sell a home?
According to a report by ATTOM, the worst times are during October and December, while June is the best month to sell.
It is pretty unanimous that the best time of the year to sell is during summer. First of all, the weather is nicer, and there is more time in the day due to daylight savings time. Secondly, many homebuyers have children and are looking to buy a home before the start of the school year.
During the summer many people have more flexible schedules and will be able to devote more time to searching for a house during longer summertime hours.
The well-informed buyers will know that the buying window is closing, which means they are more likely to make more competitive offers during this time.
Spring Is a Close Second
The best four months of the year are May, June, July, and August. Evidence shows that sales made during these four months make up 40% of annual home sales. The National Association of Realtors reported that 2.1 million transactions are made during the period. May is included, which means that towards the end of spring, it is also possible to make more money.
Winter and Fall Are the Worst Times of Year
By around September, the average net earnings of a seller drop to 4.7 % which is about half the average earnings made in June. So, the worst times of year are fall and winter. Why? Well, for various reasons. Wintertime means it’s the holiday season. People are focusing on making travel plans, or gift buying, and homebuying goes on the backburner.
The weather during these months can play a huge factor as well. Many people tend to hibernate during the winter months – only braving the cold for necessities. If the home or property on the market has a fantastic curb appeal, this could be hugely affected by the weather.
Real estate is ever-changing, so always make sure to consult with a great seller. They will know the market where the property is located and be able to give neighboorhood-specific sales information.
Make sure to get the timing right, and it will be possible to turn that home into a lot more cash. Also, look at different options for selling. Leave The Key Homebuyers state, “Selling your home doesn’t have to be a difficult process. A real estate investor can purchase your home quickly without the long drawn-out process of selling with a real estate agent.” So you really should research before you think about selling and with whom.