When is the Best Time to Sell Your Home?
The time has come and you’re ready to make your move. Whether it’s your dream home, a downsize since becoming an empty nester or you need more space for a growing family, certain times of the year are more profitable to put your house on the market. It’s in your best financial interest to know the most profitable time of year. According to research done by ATTOM Data Solutions, a leading provider of real estate and property data for more than 155 million properties across the United States, the best month to sell a home is June and the worst is December. Research shows the average seller premium is almost six percent higher in June than in December and the median sales price is $12,000 more. If you’re thinking of placing your home on the market, consider the reasons why selling in the summer is more lucrative than the winter.
Families are looking to move in and settle when they know their kids are out of school. Because it’s a shorter time period, they’ve likely already done their research and are ready to buy quickly, making it a strong seller’s market. During December, students are in the middle of a school year and it becomes more difficult to move, especially if the move is to a new school district.
Let There be Light
Homebuyers prefer to view properties during the daylight hours. The longer days of summer result in increased traffic, giving your home more exposure and ultimately leading to the chance for more offers. The lackluster, dreary days of December don’t provide strong natural light and the sun sets early, leaving a shorter amount of time during the day for buyers to tour homes.
Hot and Cold
Just as daylight is a big influence, warmer weather also brings more people out to tour homes. The frosty temperatures of December keep buyers in hibernation. Plus, the summer months also feature lush, green grass and gardens with flowers, making your curb appeal more attractive compared to the bare trees of winter and dormant grass.
No matter your location, these seasonal patterns are a good indication of what to expect throughout the year in real estate.