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. October and December are the worst months to sell a house also according to the numbers. During these two months, sellers are less successful in achieving the sale price and making a sale compared to other months.
That doesn't mean that your home won't offer you a good deal, especially in a seller's market, but you'll always wonder: would the offer be better if you had waited until May or June? Just as important as knowing the best times to sell is understanding the worst. And according to ATTOM Data Solutions, those would be the months of December, October and January. This is the best time to sell a home at the highest price. If you're looking for advice on a specific month to list your house for sale and get the best sale price, choose May.
Research shows that homes sell at a higher price in June and there is more competition. If you live in a booming housing market where houses sell out fast, listing your home in June will give you the best chance of getting the best selling price for your home. According to ATTOM Data Solutions, selling on June 28 equates to a price premium of 10.8 percent, historically speaking. In addition, the higher level of competition results in a greater number of buyers, higher sales prices, and more bidding wars.
Often, homeowners accidentally choose the slowest month for home sales and get stuck with all that entails. If you're thinking about selling your home, you'll want to avoid any potential pitfalls, including putting up for sale during the worst months to sell a home. They'll have a good pulse on what buyer traffic, home values, supply, and sales times are like in your area, and they can also help you sell and market your home when the time comes. When selling a home in New York, time isn't everything; however, it can certainly influence how long it takes and the price you can ultimately get.
During the months of October, November and December, the weather is not always on the side of property sellers either. 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. They can inform you about the latest market conditions and help you better determine the best time to sell a property in your specific area. Many sellers are happy to sell to an iBuyer instead of following the conventional route of the real estate market.
If, on the other hand, buyers are scarce, supply is overflowing, and homes take a while to sell, you may want to wait a bit until the market strengthens.