Summer has always been known to be the time to move. Many families wish to list their home in the spring, so that they will be able to sell and move by the time school starts in the fall. May is known as national moving month, with the peak moving season being from April to September. However, we know that not all home sales go as smoothly as planned, and we may find ourselves selling and eventually moving later than planned. That brings the question: when is the best time to sell? Let’s take a look:
Think about prices
According to Zillow, homes sell the fastest in the early spring, throughout the months of March and April. However, homes typically sell for the highest prices in May. This seems to be the most efficient time to sell as far as price and time goes. This has a lot to do with the weather, as properties are more aesthetically pleasing during these months: landscaping is lush, homes seem brighter, and spring renewal is in the air. Obviously, this is more appealing to buyers, creating faster, more profitable sales.
It may not be as easy as you think…
Remember, a lot goes into selling a house. In 2017, homes stayed on the market for an average of 66 days, and closings averaged 50 days. Clearly these numbers differ per area and home type, and sometimes, there are unexpected obstacles. Preparation and thought are key. Make sure you are thinking about when you want to move: ultimately, when you want to list, when you want to close, and the ideal time you’d like to be where you want be. Thinking about these things will help you and your agent create a plan to sell your house as efficiently as possible.
Selling your home requires a home inspection. Depending on your home type, several other inspections (septic, well, etc.) may also be involved. Issues with home inspections are usually a big factor in prolonging the closing process. Some repairs take longer than others. If you are worried about your inspection, perhaps preparing to list earlier would be best.
If you’re looking to get a high listing price and a quick sale, the spring is the time to list for you. Start planning in the early months: think about where you want to be, and when you want to be there, as well as what may be needed to prepare your home for sale. This mindset will help you be ready for whatever may come along the way. Ultimately, being ready to list by May will give you the best luck.