If you’re looking to upsize, downsize, or move across the country, timing is an important factor for home sellers. In addition to our previous article, When is the Best Time to Buy a Home, we’ll go over the best times to list your house on the market to put your best foot forward!
The best time to sell a house
Spring and summer are the most active months for both buyers and sellers. More specifically, the month of May nets a 12.6% seller premium (amount above home market value) based on ATTOM’s analysis, with April, June, and July also seeing high premiums.
Getting into a home before summer’s over is a buyer’s dream- they want to settle in before the new school year starts and are more motivated to lock in a home they love, which could give you an extra advantage as a seller.
The worst time to sell a house
The worst month for selling a home with a 5.2% seller premium is October, and the late Fall and Winter seasons are the worst times to sell a home. With the new school year and holidays back-to-back, buyers and will typically wait until early spring to begin the search for their home. Spring and summer also have more inventory options for buyers, not to mention the weather is less than ideal when looking in colder months!
If you’re looking to buy a home in the southern states, extremely hot temperatures in the summer are less than ideal to go house hunting. Therefore, the season and the competition can vary depending on the location you’re in. For example, you may have better luck listing your home in the winter months if you’re looking in Florida whereas in the DC Metro area, you’ll be more inclined to list in the spring and summer months.
While there are factors that could give you a leg up on your competition, the bottom line is if you’re thinking about listing your home, it’s important to know when the best time is for you and your family to make this change.