Thursday, November 14, 2019 / by Dixie Simon
Figuring out the right time to sell can help you maximize the sale price of your home and take some stress out of the process. It can also drive a person absolutely crazy. Here are a few tools and tips for deciding when is a good time to sell your house.
However, market circumstances influence the best time to list your house, including job growth, mortgage rates, and tax incentives. In fact, the ideal date to put your house on the market can be as early as April 1 or as late as July 15, depending on your location.
Seasonality does affect when to sell a house but it is not the only stipulation.
As you can see from the trends above, people tend to shop for homes as the weather gets warmer, so prepping your home in the winter months to sell in spring usually does make sense. With tax refunds in their pockets, nicer weather for moving in the forecast, and summer break from the kids’ school coming up, it’s easy to see why spring is typically the most popular time to buy and sell.
Many of the same reasons buyers shop in the spring apply to home buying in summer as well — warm weather, school breaks, and simply having more hours of sunshine to hit up open houses and take home tours. Of course, summer is the time when most people take their vacations, so that might account for a bit of a slowdown. And, there are parts of the country where real estate is slow in the summer because it’s simply too hot to shop comfortably.
Many buyers shopping in the early fall may be trying to move in time to get settled before the school year picks up or before the weather gets bad, and that feeling of urgency can be a benefit to sellers. However, many off-season shoppers are moving because of a job transfer, layoff, short sale, or family issues, so they can also be more sensitive to price.
While winter is traditionally the slowest season for home sales, if your climate is warm year-round (think Florida and the Southwest), your window for selling may even be better in the winter months as snowbirds flock to the sunshine. In the land of Snow, Winter can be a real show stopper with curb appeal and the smell of baking and such. Do not rule it out EVER!
Of course, seasonality isn’t the only factor to keep in mind when deciding if it’s the right time to sell your house. It’s also important to consider the state of your local housing market.
Are you selling in a buyers market or,
Selling in a seller's market?
Low mortgage rates directly inspire new buyers to purchase homes
If your local job market is booming, it’s a great time to sell your home
Tax incentives on purchases improve home selling odds as well. While there are currently no major federal tax incentives for first-time home buyers, like the popular First-Time Homebuyer Credit of 2008-2010, potential sellers should keep track of local, county, and state financial news, as incentives and tax laws can make it easier for potential buyers to take the leap and become homeowners.
Bottom Line: Your readiness marks the best time to sell
When it comes right down to it, the best time to sell is the best time for you. All kinds of personal factors can play into your decision to sell, from job changes to family changes to just generally feeling ready to make a change. Don’t over-think it. When you are ready, you are ready.