When Is the Best Month to Sell a House?
Selling a house can be stressful. You have to deal with real estate agents, scheduling, moving, and the life changes that often come with selling a house.
Of course, you also want a good price. And you don’t want to wait forever for your house to sell once you make the decision to sell it.
So, what is the best month to sell a house? Choosing the best time to sell a home can help you get the best price, as well as sell it quicker! Keep reading for some great tips on when to sell your house.
Best Month To Sell a House
The short answer to the question is May. To be specific, May 1-15 is generally the best time to sell your house. In general, houses in the United States that are for sale in that time period sell six days sooner and sell for about $1,600 more. (By the way, Saturday is the best day to list.)
This is the very general rule, though. There are other specifics to consider depending on several factors listed below.
While it’s true that, on average, May is the best month, that isn’t true in every instance. That’s because what really stands out about May in many places is that it features nice, pleasant weather. This makes people happier and think more positively about buying a property.
But the weather varies across the country. What’s really important is that it’s a pleasant season in whatever area you’re selling your house.
For example, May is already too hot to be the best time of year in Texas, Alabama, or Southern California. Instead, try December, when the weather is actually very nice.
In places like Denver, people truly appreciate summer and winter because of the different outdoor activities each season offers. Because of this, the season doesn’t actually matter very much for selling your house.
So, there are some regional differences, but pleasant weather is best.
The local economy and housing market play an important role in timing, as well. Even if the general housing market is going in a certain direction, the local neighborhood might have it’s own ups and downs.
If houses are selling for increasingly high prices in your neighborhood lately, you may want to wait a few months to get an even higher price. Of course, you don’t want to wait too long, either. Otherwise, you’ll miss the trend.
On the other hand, if the neighborhood has houses that aren’t selling well, you may want to get out before the market really gets bad in that area.
The local city planning or other local considerations may be important, too. If the city is planning a freeway or other intrusive feature, you may want to move sooner. If there is going to be a park built by your house, it’s best to wait for it so that the property value goes up.
Another huge consideration of the best time to sell your house is your own personal life circumstances. You might not always be in the position to sell your house in the perfect month of the year.
Your job, relationship, financial situation, or even simply your emotional state may determine when the best time to sell your house is. If you accept a new job that starts immediately, that will likely bump up the time you sell.
If you take a financial hit, like losing your job, you might want to sell quickly and downsize in order to make ends meet. Not everyone has the resources to wait, and there are lots of benefits of selling your house for cash.
If it can be avoided, it’s best not to sell your home under emotional stress, and so, the best time to sell might be when a personal situation is resolved.
Spring is a top season for selling your house because of the weather, but also because it fits nicely with the end of the school year. Parents often wait for the school year to end before moving.
So by May, they are ready to purchase and have a summer in the new house before school starts again.
A downside is that there is a lot of competition in the spring. So, if your house isn’t in perfect condition, it could be good to try another season.
Like spring, summer often offers good weather and long, sunny days. This makes house shopping easier for buyers, and therefore better for the seller, too. The weather in some places can be more predictable, too.
In July or August, there is a bigger rush to get settled before the start of the school year. This could work in the seller’s favor.
The downside in hotter areas is that it’s actually too warm to be pleasant. Also, summer vacations tend to get in the way.
This is a slower time for selling and buying. The good part is that contractors and construction crews will likely be more available. So, if you need to fix up some parts of the house, fall could be a good time to hire someone.
The bad part is that because it is slow, there might not be as much demand for your house.
This is the slowest time of year for house purchases, so the cons are fairly obvious. Fewer people buying houses means less demand and a lower price.
The one potential good part is that sometimes real estate agents are trying to complete year-end goals and may work very hard to get a good price just before the end of the year.
Sell Today Or Wait Until May
May is often the best month to sell a house. But don’t worry if that doesn’t fit your schedule or personal needs. There are plenty of good reasons to wait until the time is right for you. Try to make the most of the selling process!
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