Are you looking to sell your house through the local market? When looking for the best time to find home buyers, you’ll find that late spring and summer are the perfect seasons for home selling in the real estate market nationwide.
When you need to find the best time of the year to sell your house, look no further than this article. You will also learn about the worst time of the year and the worst months to try putting your home on the housing market.
Keep reading to learn the best time of the year to sell your house and the slowest-selling season.
The Best Time of the Year To Sell Your House
Late spring is typically the best time of year to sell your house. ATTOM Data Solutions provided an analysis showing the best time to sell homes over the past ten years, focusing on single-family houses and condos.
The month of May is the absolute best time to sell a home with a 13.4 percent seller premium. June and July are also popular months for the housing market. In June, the average seller premium was 11.7 percent. By July, the seller premium hits 11.2 percent on average.
In particular, the analysis from ATTOM Data Solutions shows the top five days for you to sell your home, which are:
- May 16
- May 19
- May 20
- May 23
- May 27
In particular, May 23 is the best day to sell your home due to the premium reaching 19.3 percent above market value. You can get top dollar for your home when selling in May. April was also one of the better months for home sales, with a seller premium rate of 9.2 percent.
From April through July, as many as about 15 million home purchase transactions occur. However, home purchase prices start falling by the fall, with September showing only a 7.5 percent seller premium. Selling a house in the fall is usually not the best option.
You will also notice that the summer season, especially in June, is the perfect time of year to sell your home. During that time, the weather is nicer and more homeowners hold open houses. More home buyers with children are looking to purchase a house during the summer before a new school year starts in the fall.
In June, the median sales price is $200,000. In July, the median sales price is $199,500. By May, the median sales price of houses is $190,000. During April, the median sales price drops to $184,063.
The longer days during the summer also make it easier for home buyers to view new properties. With more foot traffic going through each property, home sellers should likely see more offers.
The Worst Time of the Year To Sell Your House
The holiday season is one of the worst times to sell your property. The winter months are the most challenging times for the real estate market, with December topping the list. Some of the reasons why December doesn’t work well in terms of real estate market conditions are due to the busy holiday season, the cold temperatures, the short days, and the new school year.
Usually, the people looking to purchase homes and move in December and January are those who have new jobs to start.
Any real estate agent will tell you that one benefit for home buyers during the winter months includes less competition from other buyers. This might be an ideal time to give an offer below the asking price. Home sellers looking to sell during the winter may succeed with the help of a few home improvement projects and a boost in curb appeal.
January and February have the lowest median sales price for homes, totaling $170,000. Along with dropping home prices during the winter, the seller premium is only 3.7 percent on average in January. Also, in February, the average seller premium is 5.6 percent.
Unlike the summer months, potential buyers also see a low average seller premium rate of 3.3 percent in October and December. You will see a 4 percent seller premium rate in November with a $188,173 median sales price.
Essentially, the fall and winter seasons are the worst times to sell your home. Fewer home buyers are looking to purchase properties during that time, and seller premiums start to decline.
The Best Month of the Year To Sell Your House
May and June are the best months of the year to sell a house, depending on the local real estate market. The seller premium rates are the highest during these months. The summertime is usually the most active for the real estate market.
Since real estate can be a rather local issue, you may want to speak with a realtor who knows about the latest sales trends in your local real estate market. Once you have decided when to sell your home, you may still want to make minor renovations and improve curb appeal to increase your asking price.
If you want to gain as much as thousands of dollars from your home sale, push the sale forward by several months if it’s wintertime. That way, you will sell your home during the late spring when you can put your place on the market at a higher list price.
Along with the best months of the year to sell your home, there are specific days when you would benefit from listing your property on the real estate market. Data from Redfin shows that you can gain an extra $1,700 when you list your home on Tuesday, Wednesday, or Thursday compared to the weekend.
However, the midweek listing depends on where you are selling your home. For example, listing a home midweek in Boston, Massachusetts can gain you an extra $7,100 on average. However, listing a property midweek in Kansas City may only gain an additional $400.
If you want to make the best price on your home, you should put it on the market midweek during May or June.
The Worst Month of the Year To Sell Your House
The worst months throughout the year to sell your home include October and December. These months have seller premiums of only 5.8 percent. The rate is cut in half as compared to selling your property in May.
October starts to have shorter days, and many families have children who have already started school, leading to fewer buyers looking for new homes. December is all about the holidays, and families don’t have much time to waste searching for new homes.
Instead, Christmas parties, present shopping, Santa visits, and cookie-baking take up most parents’ time. The shorter and colder days also make it less likely for families to start searching for new places to live.
The fall and winter tend to be the worst times to sell your home. Therefore, September, November, January, and February also make it on the list of the worst months for home sales. The seller premium rate for November is 6.4 percent, while January shows a 6.6 percent seller premium. Lastly, February has an 8.2 percent seller premium rate.
Nonetheless, whether a home sells in the fall or winter depends on the property’s location. Also, the condition of the home you’re selling can impact the sale. Does your home need any repairs or home improvement projects? If so, you can gain more offers by selling your home after remodeling.
However, if you don’t have the funds or the time necessary to renovate your place, then you should consider finding real estate investors or cash buyers to purchase your property. The reason why you should prefer cash buyers involves the fact that cash buyers will buy your place in its as-is condition.
In addition, when I looked for cash buyers to buy my house in Philadelphia, the best part included getting a fair offer regardless of the time of year. Whether you need to sell your home in the fall, winter, spring, or summer, cash buyers will provide you with a fair cash offer any time of year.
The spring and summer are the best times of the year to sell your house. In particular, late spring or the month of May is the absolute best time to sell your property. However, you should consider speaking with a realtor who knows your local market and sales trends.
If you have to sell your home in the fall or winter, consider selling to cash buyers for a fair cash offer. Luckily, we buy homes in Aston and in other locations. Contact us to sell your house for cash.