Spring, summer, winter, fall. When is the best time to sell your home?
The topic has been discussed by many and, generally, experts are in agreement that spring is the best time to put your house on the market. But, to the surprise of homeowners, winter is not too far behind, dragging on the heels of spring. But what about summer and fall?
Over the course of 4 years, Redfin conducted a study of 7 million house sales in order to put numbers to this theory. In their research, they measured what percentage of houses were sold above the list price and what percentage of houses were sold within 30 days of being put on the market.
Here is a breakdown of every season and what reputation they have in regards to selling a home.
Rejuvenated by the warmer weather and crisp air that spring brings as she washes everything with sunshine, homebuyers appear to be more active around this time of year. An increase in buyer activity means more competition means an increase in prices, which is a dream for home sellers. During the springtime, Redfin found that 18.7% of homes were purchased above the asking price and 48.0% of homes were sold within 30 days.
For the reasons one might think that spring would be a popular time for potential homebuyers to look for a home, one would assume, then, that winter would not be a good time to put your house on the market. It’s cold, dreary, and most people leave the office to be met with complete darkness. However, winter is trailing right behind spring as a good time to sell. 17.5% of homes were sold above the asking price and 46.2% of homes were sold within 30 days, which are really close to spring’s numbers.
For homeowners who sold their home in summer, there were fewer who received above list price (only 15.1%) and 43.6% of homes were sold before the 30-day mark, which isn’t terrible, but it isn’t as promising as a spring or winter sale. Maybe the kids being out of school or taking that summer vacation with the family are to blame for an unproductive season of home sales.
The start of school kicks off fall and the holidays close out the season. For a family looking for a new home, fall may be the worst time to start the search. The thought of moving not too long after the kids start school again or trying to plan out the holidays while also worrying about a big move are not ideal. Only 14.7% of home sellers received above their asking price and only 40.9% of them were able to sell their home within 30 days.
If even after reading these statistics you still want to stick with your original plan of selling your home in summer or fall, I would just advise that you look into how these can affect the area in which you live. Often, there are areas that can experience more of a severe impact than others, which means that you could end up making significantly less money on your sale than if you would have pushed it back to another time of year.