If you are considering selling your home, you may be wondering when the right time to do so is. Real estate agents recommend that you post your home during the spring into the summer months, which is considered prime real estate season. You can wait until the offseason but will that help or hurt your chance of selling your home?
The spring months are the busiest time for selling homes as well as buying in most areas of the United States. The weather is warmer, there is more daylight and most potential buyers are looking to purchase a home before the next school year begins. It is important to consider the on and off seasons for selling a home in your area to make sure you choose the right time frame in which to list your home.
Listing During the On-Season
If you are to list during the on-season, this would be during the spring and summer months. There are pros and cons to selling during this time frame. A major pro is that you can set a larger sale price. During prime season, you can set a higher price and see a better valuation. An appraiser will be looking at data of comparable homes and due to peak sale times, the comparable homes will be a higher price point, helping your home to appraise higher.
During the spring months, everything is in bloom, so homes just look better. The days are longer so you have more time to show your home. These factors can play into more people seeing your home and more interest drawn for a potential bidding war.
However, there are also cons. Buyers will be pickier and with more houses on the market, the competition will be tough. As the seller, you may be picky as well. You may not take a deal, holding out for a higher price and end up not selling your home.
Considering the Off-Season
If you choose to put your home up during the off-season, you will also be dealing with pros and cons. A con is that shoppers are going to be thriftier and want to spend less. Buyers are looking for a better deal so you might not be able to get the price you are looking for. However, buyers will be more motivated so you may be able to earn more concessions like paying less for closing costs, etc.
You must also consider that your home will have less curb appeal. Because the winter is sparse for landscaping, your home may not look its best on the outside and may appeal to less buyers.
Overall, it is more beneficial to list your home during the spring/summer months. Give your home the advantage you need to earn a nice price on your home by listing during the on-season. Speak with local realtors to be sure of the right time frame in which to sell so that you can get the most out of your home to make the move to a new city or upgrade to a larger home.