The Best Time of Year to Sell a House

Given the low interest rates of today and the uncertainty of the continuing coronavirus infection epidemic, the best time of year to sell might extend beyond the common mid-July timeframe.

Your local housing market is unpredictable so the right time for selling is ultimately dependent on the area conditions, buyer demand, and your own financial goals and timeframe.

The ideal time to sell a house depends upon the local conditions and the demand and you need to consider your financial goals & timeline for the sale of the home.

The Current Real Estate Market

What’s going on in the current market?  The answer is not what you think. A new report from the National Association of Realtors reveals that September was another record month for home sales, with an estimated 16% increase in total home sales over last year.

But there is a catch: there is low inventory and it is not maintaining the same pace as demand. That means sellers have more choice and buyers have to be more competitive to get the home they want, which leads to higher offers and better deals all around. In other words, if you’re looking to sell, right now might just be your best bet!

The best month to list your home

Choosing the best month to list your home for sale really depends on your market. The general rule of thumb is that spring and fall are the best months to list a home, but this can vary depending on where you live. For example, if you live in an area with four seasons it might be better to wait until winter or summer has passed so people aren’t adjusting their lifestyle too drastically.

Factors that might affect your real estate market:

• Seasonal weather changes can give buyers “sticker shock” when they realize how much it costs to heat or cool their new home, which makes them think twice before buying a larger home.
• If a family wants to move in the summer, they might be put off by having their children go back to school only weeks after moving. This can also affect things like enrollment for extracurricular activities and sports teams.
• The winter months are often times when everyone is trying to buy holiday gifts which means that it’s hard to get showings scheduled.
• During the summer months, people might be more interested in taking vacations than buying a home.

Other factors to consider when deciding on a home sale

There are many potential factors to consider when deciding on a home sale, such as potential buyers in the local market, local market conditions, and seasonal trends.

A real estate agent can provide you with additional insights about those areas which may affect your decision.

Consider these tips before making up your mind:

• Potential buyers should be able to find the home easily.
• The potential buyer should be able to afford the property according to their budget.
• Remember that potential buyers are looking for homes at all times of the year, so your house should look presentable during the winter months.
• Potential buyers may wish to visit during holidays or weekends when they have more free time.

Some potential buyers may be looking for a specific type of property, such as a condo or single-family home, and some potential buyers may wish to make an offer on your house straight away while others would like more time to think about it first.

Don’t Forget, There are Different Real Estate Markets

There are many markets out there and none of them are the same. Most buyers realize that in most cases it is a seller’s market. The home seller has the advantage regardless of historically low mortgage rates, tax refunds, or tax incentives.

Over the past year, motivated buyers have had a rough time finding their dream home. Home prices continue to increase while at the same time there is no sign of less competition for average home buyers. Home sellers are often getting above their asking price and receive multiple offers for their house.

In Conclusion

When deciding on when to sell your home, there are many factors you need to consider. The best time of year for selling is dependent upon the local market conditions and buyer demand in your area. To learn more about how these factors might affect your decision-making process, contact your northwest real estate agent, Joe Drazich today!

I will provide you with insight into what’s going on in the current housing market so you can make an informed choice that will help ensure success with any future home sale.