When Is The Best Time To Sell A Home?
This is an interesting question because it’s a bit arbitrary. Yes, there are more homebuyers looking to purchase in the summer, so rationally we would believe that selling in the summer is a better bet. However, there is also more competition in the summer, too. So yes, increased demand but also increased supply so how much of an advantage is selling in the warmer months? Hard to say. Depends on your house, your location, your price point, everything factors in.
Now, all things being equal, I’m not a huge proponent of selling in the summer because “the market will be better.” However, there is absolutely a difference in buyers’ emotional states when they come to look at your house. The days are longer; it’s warmer; you can drive with your windows down and wear flip-flops; school is out, etc… and that just leads to an overall increase in better attitudes. Therefore, it’s more likely the buyer will be in a better mood which hopefully means a better opportunity to negotiate if you are the seller. On the flipside, when it’s freezing cold out and the sun goes down at 5 and everyone goes to work in the dark and gets home in the dark, the average person is less excited and may be a slightly tougher buyer to work with. So, is there an advantage to selling in the warmer months? Perhaps a slight one.
If you live in an area that experiences all four seasons like we do in Southeast Virginia, then it is wise to avoid putting your house on the market around the colder months especially if you believe snow is coming. For those of us in Southeast Virginia, a good snow will shut us down for many days or weeks. So, putting your home on the market then getting snow and missing out on your first two weeks of showings certainly is not helpful. For us, if we believe snow may be coming or we are in the months where snow is possible, we often recommend getting the home ready to go on the market, take the pictures so we are all ready to go then watch the weather and do our best to be strategic with the timing. Of course, no one knows exactly what is coming, but attempting to avoid going on the market only for the city to shut down does not make good sense.
Ultimately, my advice to people is always this: move when it is best for your family. Are there real advantages depending on the season? Maybe, but remember, it’s very uncommon to sell high and then buy low. So, whatever season you’re in, if your home will sell for a lot, you probably are also paying a lot for your new home. If your home’s value is somewhat low, then you likely will buy low as well. So, do what is right for you. Hire a real estate professional you can trust, put together a game plan with them to maximize your home value no matter the season, and then make the move.