Clients always want to know - when is the BEST time to sell a property? The answer is not so simple.
A report from Realtor.com implies that the ideal time to list a home is the week of April 16-22, when it's expected to have an ideal balance of housing market conditions that favor home sellers, more so than any other week in the year. Of course, this is based on nationwide data averages and does not take into account other factors.
The busiest time for home selling are the months of May, June, July, and August, which account for 40% of real estate transactions in a given year (source: NAR Economic Outlook Seasonality). These months may be ideal for many home sellers and buyers who prefer to move when it does not impact school schedules, and when they may have more time off from work. While this may be a peak time to move for many, keep in mind that even with more buyers in the market, it's also a time when more homes come on the market, which means more competition.
In slower months, such as November, December, January, and February, sales are about 68% of what is seen in the peak season, however these months may give sellers an advantage as they have less competition. Real estate seasonality can vary from region to region, as you look at areas with longer or tougher winter seasons compared to those with warmer climates, so it's critical to look at local data to make a more informed decision about the right time to sell.
The bottom line? Home sales occur year round and home owners should decide what time frame will work best for their needs. Work with an experienced, local realtor who can show you what factors may impact the time on market, such as housing inventory. You and your realtor can discuss the right pricing, staging, and marketing strategy that will get your home sold for the most amount of money and on your timeframe.
