Spring (March-May) The spring months are often considered the best month to sell a home. In fact, across the country, the first two weeks of May are often the busiest and most lucrative time for sellers. Spring has warmer weather, longer days, and lush landscaping opportunities that increase outdoor appeal. Many consider the summer months to be peak real estate season, and for good reason.
The uptick in buyers seen by sellers in spring changes in full swing when the long days of summer arrive. The months of May, June and August are the busiest, since those months represent 40% of the annual volume of real estate sales. Fervor to buy a home tends to peak in June, says NAR In most areas, the best time of year to sell a home is during the first two weeks of May. You can expect to sell 18.5 days faster than any other month and for 5.9 percent more money.
Elsewhere, early April or June is better for home sales than in May. There are pros and cons to selling spring homes. McCoy reveals that winter buyers tend to be more serious about finding a home, and sellers have less competition with fewer homes on the market during the cold season. But even in a more typical market, timing is everything, and this is particularly true when selling a home.
The fall and winter months of October and December have the lowest seller premiums earned, down 5.8% from half the 13.4% premium earned from a May sale. It's your chance to get free advice on when to sell, tips for preparing your home for the market, and a professional pricing consultation. And summer prices soar slightly, averaging 1.37% higher than the average June-August sales price. However, real estate is all about location, and where you live can have an impact on your home's peak sales season.
Before considering the pros and cons of selling during each season, research what is the best time of year to sell a home in your region. But before your agent helps you decide when to sell, you need to decide when to contact a real estate agent. Despite this, shopper traffic tends to drop in the fall months, suggesting that serious shoppers stay after the summer rush. She shared her experiences on the challenges and benefits of selling a home in different seasons of the year.
If you live in an area where summers are very hot, such as Arizona or Nevada, you may find it easier to sell in the early spring, or even in the fall and winter months. If you want advice on the best time to sell in your area specifically, talk to an experienced real estate agent who works there. Sellers have more control in demanding premiums and may even require buyers to offer more than the asking price in a highly competitive market.