Why You Should Sell During Peak Market Conditions! #5

 

Sell in peak market conditions

Of course, seasonality isn’t the only factor to keep in mind when deciding if it’s the right time to sell your house. It’s also important to consider the state of your local housing market.

Selling in a buyers market

A buyers market occurs when the number of available properties for sale exceeds the number of people looking to buy. When inventory is high, sellers can expect their home to stay on the market longer before receiving an offer, and you may have to sell below list price or make additional concessions to the buyer.

Selling in a sellers market

In a sellers market, there are more potential home buyers than there are available properties. A sellers market is the ideal time to sell your home, as you can expect it to sell more quickly and you’re more likely to receive multiple offers and sell for full price (or above).

How Do Seasons Affect When to Sell Your Home? #4

 

Seasons Can Really Influence When to Sell A House!

Spring is typically the best time of year to list your home for sale — at least in the years before the pandemic-fueled housing boom. It’s when buyers tend to come out of winter hibernation and hit the market in droves. 

It remains an open question whether 2021 will bring a return to normalcy in that sense. It’s likely that seasonality in the housing market will remain in some form, even if the changes from season to season are less dramatic than in the past.  

Selling a house in the spring

As you can see from the trends above, people tend to shop for homes as the weather gets warmer, so prepping your home in the winter months to sell in spring usually makes sense. With tax refunds in their pockets, nicer weather for moving in the forecast, and summer break from the kids’ school coming up, it’s easy to see why spring is typically the most popular time to buy and sell.

Selling a house in the summer

Many of the same reasons buyers shop in the spring apply to home buying in summer as well — warm weather, school breaks, and simply having more hours of sunshine to hit up open houses and take home tours. Of course, summer is the time when most people take their vacations, so that might account for a bit of a slowdown. And, there are parts of the country where real estate is slow in the summer because it’s simply too hot to shop comfortably.

Selling a house in the fall

Many buyers shopping in the early fall may be trying to move in time to get settled before the school year picks up or before the weather gets bad, and that feeling of urgency can be a benefit to sellers. However, many off-season shoppers are moving because of a job transfer, layoff, short sale, or family issue, so they can also be more sensitive to price.

Selling a house in the winter

While winter is traditionally the slowest season for home sales, if your climate is warm year-round (think Florida and the Southwest), your window for selling may even be better in the winter months as snowbirds flock to the sunshine.

What is the Best Time off Year to Sell Your Home? #3

 

Best time of year to sell a house in your area

The best time of the year to sell your house depends heavily on the location of your home. 

The Zillow Owner Dashboard is the fastest way to learn which month is the best to list a house in your area, and estimates your home’s selling price now vs. your optimum sales month.

Remember, it’s not conventional wisdom or gut feelings — it’s an analysis of seasonal sales patterns of homes in your area based on the month they were first listed on Zillow.

Click here for a chart of top real estate market locations

What is the Best Day To List Your Home For Sale? #2

Best day to list a house

Thursday is the day to list your house for sale, statistics show you increase the chances of your home selling quicker and for more money.

Homes listed on a Thursday typically go pending faster than any other day of the week, all other things being equal. The difference is notable in a market where homes are typically selling in seven days. 

Homes listed on a Sunday tend to sit on the market eight days longer than those listed on a Thursday. Saturday and Monday are only marginally better than Sunday — putting a home up for sale on either of those days typically takes seven days longer to sell than a home listed on Thursday.

Zillow’s research also shows that Thursday listings are 1.5% more likely to sell above their asking price, while homes listed on either Saturday or Sunday were 1.3% less likely to sell above list.

Happy Mother's Day from Team Hoffmann - RE/MAX Realty Pros

 

What Is The Best Month To Sell Your Home? #1

Best month to sell a house

Nationally, the best time to sell a house is March if you’re trying to sell quickly, while the best time to maximize profit is July. 

In 2019, homes listed during the weeks of March 11 and 18 sold fastest.(adjusted for irregular data from 2020).

If you’re hoping to sell for more than the asking price, aim for the week of April 22.

And try to list before September, when families start settling down to begin the school year.

By October, sellers face the worst weeks of the year for maximizing gains — homes listed during the weeks of October 14 and 21 were least likely to sell above asking price in 2019.

Always remember, local market circumstances also influence the best time to list your house. Those conditions include job growth, mortgage rates and tax incentives.

So, is there really a "Best Time To Sell" your home?

 

So, is there really a "best time" when it comes to selling your home? Or, is it simply; when you are ready to sell?

A lot is based on personal plans, but remember, the real estate industry is huge and statistic might just help you win that competitive edge that gets you the best deal.

Over the new few weeks we plan to share with you some interesting stats that will help you plan once you decide to sell your home.

Check back often to get all the details.