Are you wondering whether now is the right time to sell your house?
You aren’t alone. Every year, millions of homeowners put their homes on the market, and they all have two goals: sell the property quickly and for as much money as possible.
Yet, sellers don’t have absolute control over the pricing of a house. There are several factors that influence the price of a house and how quickly it can sell. One of these is the time of the year.
Continue reading to know the best time of the year to sell a house.
Best Weather Season to Sell a House
It’s impossible to zero in on a specific day of a specific month, so if that’s what you’re looking for, you’ll be disappointed. However, it’s possible to establish the best season of the year to sell a house.
Historically, spring is the best season to sell a house. There are solid reasons why this is the case.
During this season, the weather is getting warmer. People are starting to enjoy the outdoors again. Combine this with the fact that tax refunds have already been processed, you can see why spring is a hot season for house sellers. Plus, summer is on the horizon, which is a good time to relocate.
Summer and fall are also not bad seasons to sell, but don’t expect a spring-like performance. Winter is hands down the worst season to sell a house. People are holed up indoors, which means there aren’t plenty of prospective buyers in the market.
If you want a more specific time, we’ll give it to you. March is the best month to sell a house if you want the most returns. This is the time top real estate agents like Lee Garland are seeing increased selling activity.
Best Economic Season to Sell a House
The best time to sell a house isn’t defined by just weather seasons or calendar months. It can also be defined by economic conditions in the market.
There are two types of market conditions in real estate: buyer’s market and seller’s market.
It’s a buyers’ market when the supply of homes exceeds the demand. In such a market, home prices are typically lower than average.
It’s a seller’s market when the supply of homes doesn’t meet the demand. As a result, house prices are high and there’s isn’t a shortage of buyers.
From this information, you can tell that the best economic season to sell a house is when there’s a seller’s market in your region.
When Is the Best Time of the Year to Sell a House? It Depends
While spring is historically the best time of the year to sell a house, you also want to consider the present economic conditions. If it’s spring but it’s a buyer’s market, you may want to rethink your decision. Plus, you also want to sell at a time when it’s most convenient for you and your family.
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