By Mike Khorev
Special to the Financial Independence Hub
No matter why you are ready to list it, selling your house can be a complicated affair. Why make it any more difficult than it needs to be?
Whether selling your primary home as you downsize or selling a secondary property to make room for new investments, choosing the right time to sell is essential for streamlining the process.
Maximizing profits and the selling experience are heavily affected by the state of the market, so you want to make sure you enter the market at the right time.
When is the best time to sell your house? Find out more today.
National Statistics: When you’ll see biggest profits
According to averages seen across the country, choosing the correct month and day of the week when listing your house can affect your profit margin.
Homes that sell at the beginning of May sell faster and for more money than houses at other times of the year. This trend has been seen for several years and does not seem to be changing just yet.
Additionally, houses listed on Saturdays get more views than houses listed on other days. Most agents aim to get their houses onto the market on Friday or Saturday so that they can take advantage of people’s free time on the weekends for showings.
Investigate Local Markets
Getting an idea of when the best time to sell your house is from the national market is good for general ideas, but your local market can be a great informant as well.
Many of the factors that affect when the best time to sell is more specific to the area where your property is located. Such factors include:
- Mortgage rates
- Tax incentives
- Job growth
- Seasonal changes
- Tourism seasons
- Rental market changes
Talk with local agents and experts about your market or do some research online to determine when sales seem hottest in your region. The dates may be as early as April and reach through the end of the summer, depending on where you are located. Adapt to what fits your area so that you can make the biggest profit on your sale.
Pay attention to the season
Different types of buyers may be shopping during different seasons. The market changes from season to season because of changing trends, so listing when your home type will be hot on the market is a good sales tactic.
Winter is known to be the slowest month for the real estate market. If you live in an area with great weather all year, it’s possible that this slow down won’t affect your property. Additionally, winter can be a popular season for ski, snowboarding, and other holiday tourism properties to go on sale.
In many regions, spring is the hottest season for home sales! From tax refunds to school breaks, there are many reasons why people choose spring as the perfect time to relocate. The real estate market is typically hot for both buyers and sellers during this time. It’s a great time for browsing, and many take advantage of this.
Depending on where you are located, summer sales can also be a hot topic on the market. If the weather is still warm and people have more time to tour, the shopping can extend into this season from summer. Those looking for beach or summer home getaways will often combine their vacations with open house tours.
While not as popular of a season for selling, that can be a benefit to some sellers. Buyers looking through a limited market may be more willing to settle for a less-than-perfect find, but they also might expect to pay lower prices as there is less competition.
Don’t forget: your circumstances matter, too
No matter what the statistics and trends say about the real estate market, it’s important to remember that your circumstances should have a prominent role in your decision about when to sell.
If you have a specific schedule due to work or family commitments, you can list your house at any time. Personal finances and home renovations may also affect when you want to put things on the market, and that is perfectly okay.
When is the best time to sell your Home?
The best time to sell your home is likely to be in the spring, but that’s not a guarantee. After learning about seasonality, local factors, and how your own personal goals play into the perfect sales window, you’ve hopefully gotten an idea of when you might look to get your property on to the market.
By getting creative with your agent, there are ways to make any season work! Be knowledgeable about the trends, but don’t let them hold you back. The critical thing to remember is that you may need to prepare to be patient, accommodating, and flexible with the sales process during slow times.
Mike Khorev is a marketing consultant who helps SaaS, software, IT, technology, B2B and startup companies generate more sales and grow revenue online. He offers expert advice on marketing your company the right way through performance-based SEO, inbound marketing, conversion rate optimization, search engine marketing and many other online practices.