When to Sell Your Home

One of the main questions we are always asked is; when is the best time of the year to sell a home. Trying to decide when is the best time to sell your home can be stressful. Your decision to sell your home is often based on your changing lifestyles, like a growing family, new job or downsizing. While there is no absolute optimum time to put your property on the market, seasonal patterns can affect buying and selling habits. 

1.    Sell in spring

The peak season for selling houses is generally considered to be the spring season and historically the vast majority of homes are sold during that period. However, the reality is, real estate is sold- round and every season brings certain advantages as well as disadvantages. Spring is the most popular time to sell a home because more buyers are in the market looking and have received their tax rebate to better afford down payments and other cost linked to home buying. Also, during spring, home sellers have enough time to show houses to potential buyers, since the days are longer.  In addition, more home sales during this season occur at full asking prices. During this period buyers are ready, willing and able to purchase your property. Most often make use of buyer’s activity currently in the market. 

2.    Sell in summer

It has been suggested that during the summer season people are not looking to move. They are out enjoying the good weather, gone on holidays or busy with children or family life as much.

3.    Sell in autumn

Autumn can be a good time to sell. The exterior of people’s homes are still looking good and the weather can be ideal at this time. People have more time to move to a new house and would hope to be in for Christmas. There are no big holidays in autumn to distract them.

4.    Sell in winter

During the winter your home does not look its best and the curb appeal is low. You’re relying on potential buyers to visualize how it can look. Many people start getting prepared for the Christmas season so doesn’t want the added stress of moving to a new house. 

5.     Consider the state of your home

This is a very important point to take into consideration when you think of selling your home. The best time to sell your home is when it is in its best state. Therefore, it is necessary to make improvements, deep clean your home to clear away any unnecessary clutter. In addition to these cleaning or working in your yard or home surroundings also make the home attractive to buyers. The chances of selling your home at or near asking price are high if your home is in prime condition when you list it.

6.    Sell during pleasant weather

Home buyers are often reluctant to go out to look at homes when the weather is not pleasant especially when it’s rainy. Most often home buyers go out during pleasant weather to look at open houses and tour homes that are on the market. Bright weather lures buyers to go out and look. Bright weather not only improves the appearance of your property but creates a more positive reaction to your home. Therefore, it’s very important to consider selling your home when the temperatures in your area are pleasant. 

7.    Use tax incentives as cues

When listing your home, it’s important to look for incentives in your area. For example, if there is an incentive that will be ending at a particular time, make sure your home is listed prior to the end of the incentive. Keep tax deadline dates in mind when listing your home.

8.    Watch the economic cycle

During recessions home buyers are scarce. With demand low, prices fall. When the economy experiences steady growth and interest are relatively low, demand is high, and prices rise. When interest rates are low, investors look to the share market for better runs, lowering home prices.