Conventional wisdom says that the best time of year to sell a home is in the springtime - but conventional wisdom doesn't apply to every home sale, or even every real estate market. If you're thinking about selling your home and you have some flexibility in terms of timing, then you'll want to carefully consider every season before you decide to list your house.
Although spring tends to be a popular time of year in general to list a home, the best timing for you is going to involve a number of factors. If you live in a region where summer is absurdly hot or humid, for example, then winter might make more sense - especially in states like Arizona or Florida, where "snowbirds" come to live in the winter months. Or if your home is in a winter resort town where skiing and other winter sports are popular, then winter might be the best time of year to list a property.
There are advantages and disadvantages to listing a home in any season, and they're going to differ depending on where you live, but here are some things to keep in mind when you're laying out a timeline for selling your house.
Advantages to selling in the spring
Your Home Might Have Better Curb Appeal
Between ultra-green grass and blooming flowers, spring can be especially kind to the curb appeal of your house, helping it look it's very best to potential buyers. And if you live in a climate with springtime showers, then you might not need to do much to keep that grass green and those flowers popping.
Homes Will Typically Sell Faster and For More Money
In many markets, spring is the time of year when homes tend to fly off the shelves and sell for higher prices. This is a season when buyers with children are motivated to find a place and start the closing process so they can spend the summer getting settled, and even though there are usually more homes on the market in the springtime, there's a commensurate increase in buyers hoping to move, so some markets see more bidding wars and competition among buyers in the springtime.
Tax Refunds Are Available to Buyers
If buyers filed their taxes on time, then they will have those funds available in the springtime to play with - whether they're using a tax return for a down payment or hoping to make some repair or renovations to the home they buy. That said, this can also work as a disadvantage if buyers in your market have to pay additional taxes instead of receiving a refund; they might not be as focused on home shopping when there are (big) bills to pay.
The Weather Is More Conducive To Looking At Houses
After Daylight Savings starts, there's usually more time after work to go look at houses for buyers while the sun is still up, and warmer weather can also help inspire them to get out and shop for homes.
Moving Is Easier
Spring is one of the easier times of year to move a household, and buyers are definitely considering that when they figure out their own timelines for buying. Almost nobody wants to move when there is snow on the ground, so the more cooperative weather can be a benefit when the time comes to move.
Buyers With Kids Can Close After School Lets Out
Families who are hoping to buy tend to pick springtime as the best time to look at homes because they can get the closing process started in time to conclude just after the school year is over, which won't disrupt school for the kids and will also give them some time to get settled into their new abode before the school year starts anew.
More Homes For Sale In Most Markets Means More People Looking to Buy
It's hard to say which came first - the homes for sale or the buyers seeking a new place to live, but whatever the case, you'll tend to see more homes for sale and more buyers shopping in the spring.
Want to sell this spring or summer? Give us a call at 617-600-8415 to talk to an agent that can answer all of your questions and concerns!
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