Does Seasonality Really Matter When Selling a House?
Are you looking to put your house on the market, but not sure when to list it? There are many factors to take into consideration and time of year can be a big factor.
Seasonality does play a role in the housing market. Spring and summer are typically stellar months for homes sales, while late fall and winter sales tend to dwindle. However, this doesn’t mean that winter is a bad time to put your home on the market.
Because many people put their home on the market in the spring, this can cause a large supply of homes. If the number of buyers isn’t as high as the number of homes on the market, then sellers may not get top dollar for their home. In a market where there is a lot of competition, sellers will undercut their price to get a quicker sale, especially in situations where there is a great need to move by a specific date (new job, military orders, etc.). Spring markets are also very tough on those houses that may be less than perfect. When there is more inventory to compare, buyers can be pickier about the condition of the homes they are looking at to purchase. When supply is lower, typically in later fall and winter, there is the potential that you get your asking price or possibly above asking.
There are factors to take into consideration, as this is not a perfect scenario every time.
- Hire a seasoned local real estate agent – this will ensure you have someone with knowledge of the market and the condition of it at the time. They will offer you non-biased advice on when the best time to list is and how to proceed.
- Watch the market, or ensure your real estate agent is well versed on the local market. It is normally better to list when there is little competition in your neighborhood.
- February is typically a good time to get a jump on the spring market.
- Make sure your home shows well. There are little things you can do to freshen up your home to make it show and photograph well. See our Seller Documents on our website for some ideas.
In the end, there are no set rules in the Real Estate Market. Everything is a guideline and your best, most-seasoned real estate agents will do the research needed to get you top dollar for your home. The best advice we can give you is to ensure you do your research to hire a seasoned professional. They will look at every scenario, like the proximity to your neighbors and suggesting you list when there are still leaves on the trees so the privacy appeal is still there. Not all real estate agents look at the little details and offer unbiased advice. Call us today to see how we can help you!