When is the best time to sell your home? That’s a common question, and the reality is you’re free to put your home on the market whenever you want. However, some months and days are better than others, and there are factors to consider when deciding when to list.
In this guide, you’ll discover the best and worst time to sell your home and how to attract the right buyer if you’re forced to sell at an inopportune time.
Factors That Can Affect the Time of The Sale
House Condition and Location
Have you landed a better career opportunity in another city or state? Or maybe you’re retiring soon and would prefer to downsize to begin living life on your own terms? Do you need to relocate to care for relatives? Is your family expanding? Do you need a larger space? All are viable reasons to sell your home, even if it’s in the middle of a slower selling season for the real estate market.
You should also consider the condition of your home when deciding when to sell. If it needs significant upgrades or repairs, it could be more sensible to hold off until they’re done to earn a larger profit on the sale. But if you’d prefer not to bother making improvements, you could get a cash offer through an iBuyer and sell your home fast.
Market Conditions
If inventory is low and demand is high, it’s a seller’s market, and chances are you could earn a hefty profit on your home no matter when you sell. But when there are excessive levels of inventory and very little demand, buyers could have the upper hand, and it could be more sensible to hold off until market conditions improve.
Best and Worst Time to Sell Your House
Best Time to Sell a House Related to Condition and Location
Recently renovated homes with the right curb appeal can garner the right attention in any market. If the property is in a prime location, it could be a hot commodity and attract lucrative offers from potential buyers.
Best Market Condition to Sell a House
Ideally, you want to list your home when it’s a seller’s market. However, since inventory is likely limited, buyers will be inclined to act fast to find the perfect house.
Best Season to Sell a House
The best season to sell your home is in Spring, as sales volume tends to be higher during this time. If possible, aim to list in May to give yourself the best chance at earning top dollar for your home without letting it sit on the market for a bit.
Summer months are also ideal if you’d prefer to wait a bit to put your home on the market. Historical trends have shown that “days on market” for homes are far lower, and buyers are more inclined to shop with less-inclement weather conditions.
Worst Times to Sell a House
Homeowners should avoid listing in the frigid winter months. Sales volume is generally lower during this time, homes linger on the market longer, and you could get less than the asking price.
How to Sell Your House Despite Bad Timing
Reduce The Selling Price
Buyers are always looking for a good deal in any market. So, consult with your realtor about lowering the asking price. Homes that are priced to sell typically get the most foot traffic and offers without sitting on the market for an extended period.
Wait For the Market to Improve
If you’re not pressed to sell your home, wait for the market to improve. You can also list it for rent if you’re relocating and not required to sell your current home to purchase a new one or plan to live in a rental until market conditions improve.
