- April 11, 2022
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Even though timing is not the only factor to consider when listing your home, it makes a big difference in determining how quickly and how much profit you make. Ideally, you would want to maximize these profits which is why it is important to time the market perfectly. Entering and leaving the market at the right time is essential which is why you should read on to find out what’s the best time to sell a home.
Should I Sell Now?
The short answer: yes! When there are more buyers than homes available for sale, the sellers are at an advantage. This is called a seller’s market, whereby the seller (you), is more in control. You are the ones with the upper hand during negotiations. If you are on the fence about selling your home, then perhaps knowing that you’re in control can serve as motivation for you to do so!
What Is The Best Time to List?
The timing that you choose to list your home also depends on your desired outcome from the sale. Generally, sellers wish to maximize profits. However, there are a select few groups who just wish to get rid of their house quickly. Perhaps, you are relocating, or you have another home that you desperately need to move into. Maybe you just need money quickly. Whatever the case, if you wish to sell your house quickly, the best time would be March. Meanwhile, if you wish to maximize your profits, July would be the best time to put your house on the market.
Do The Seasons Affect Sales?
Yes! The seasons greatly impact the real estate market and therefore, affect the sale of your houses. So other than specific months, the seasons are also an important factor to consider when trying to sell your house. Usually, the springtime is a great season to list your market. This is because spring is the time when individuals are getting back their tax refunds. The weather is also optimal to go around and visit houses, compared to the cold and dreary winter weather.
However, claiming that spring is the best time to sell your home is a blanket statement. Depending on your location, the season that you should sell your home varies greatly. For example, if you live in a region where the weather remains relatively constant throughout the year, the fluctuations in the season should not affect home sales too significantly.
On the other hand, it is important to remember that in the seller’s market, the season doesn’t matter as much as last time. If you’re really interested in listing in your market but are hesitating because of the specific season, just go ahead and list it! Who knows, there may be people who are going against the norm and purchasing homes despite it not being an “optimal season”.
Even though understanding the trends across the seasons is very important, there are other factors that should play in your decision-making process when deciding to sell your home. This is a very personal decision which is why you should consider whether you are ready to sell your home. Consider your financial situation and whether you are mentally prepared to move on to a new home.