According to the experts, when is the best time to sell your home?
Selling your home is not often the most enjoyable thing to do among others as you pack up your life and move, but when doing so, you always want to ensure you do it right! And with the wild home buying and selling market, timing is everything, and the seller’s market never relents.
If you’re looking for the best time to sell your home, you’re in luck. Today, we’ll talk about maximizing the right time to sell your home to time the housing market correctly!
First, how do you know it’s time to sell your home?
Many homeowners often have the same question, but the real answer depends on your life circumstances. Here is a quick list that’ll determine if entering the selling process is a viable next step.
- Your family dynamic has changed (members moving in or out, etc.)
- Your living space is too small to meet your family’s needs.
- You desire to be closer to family or friends
- If selling your current home would help you afford your next home.
Talk with a real estate agent and go over your finances from an expert lens to make the best determination.
Best time of year for home sale premiums
According to historical trends, many housing markets experience higher seller premiums during the spring and summer months. This season is often categorized as a seller’s market where fewer homes and more serious buyers are willing to pay top dollar for your home.
With the jump in home sales in this season, mortgage interest rates in 2023 have increased steadily, and buyer demand has been down since pre-pandemic years, making it more of an attractive option for sellers to lower closing costs for potential buyers to save money. Housing inventory remains relatively low compared to previous years as plenty of other homeowners are choosing to opt out of listing their homes due to fewer buyers.
☑️Related: 9 Landscaping Tips to Add Curb Appeal Before You Sell
Best (and worst) times of the year to sell, by month:
Below are the best (and worst) times to sell your home based on the time of year and event he day of the month!
Spring and summer are the best seasons to sell
Spring and summer correlate with more homes sold, and for a good reason!
Warmer weather tends to attract more buys, and sellers often get a better-asking price, meaning more money in your pocket. In fact, the average selling price often increases between June and August and sells faster, making it the best time of the year to sell. Additionally, many buyers with kids prefer to buy in this season as it is after the school year ends, making it easier on the whole family.
Fall and winter are the worst seasons to sell
Fall and Winter months from October to March are not as generous to home sellers overall. Less competition and, therefore a higher price index turns house hunters off from signing on the dotted line. The average days on the market will increase due to a buyer’s market (more sellers than buyers = less home sales). Home sales steadily decline in September and steadily trend downward until Spring comes around to invigorate buyers.
The best day of the week to list your home
Out of the week, Thursday is the best day to list your home to maximize profits and garner wanted attention. Real estate agents actually tend to plan their weekend showings toward the latter half of the week, making Thursday an ideal time. Timing is important! Listing it earlier on in the week would put effort down the drain before most buyers are ready to look.
The right time of day to list your home
The best time to list your house is after 5 pm due to the fact that most people will be off of work and have time to look more closely at their local market for potential properties. Listing it then will ensure more eyes see it faster!
How much equity should I have before selling?
Ideally, to feel confident, you want to have enough equity in your home to pay down your current home’s mortgage plus extra left over (20% or greater) to be devoted to your down payment.
Do you need a real estate agent?
If you need a successful sale, don’t go at it alone! Hire an expert real estate like Robin to help you!
Hiring a licensed real estate agent will help you navigate your local market, let alone a buyer’s market, which requires thoughtful expertise. You can find local real estate agents in your area with a quick search at your disposal!
What’s the Verdict?
Selling your home on the housing market requires critical thinking so that you can attract buyers, let alone make more money. When timed right, market conditions will bring forth serious buyers–you just have to make sure you’re selling in the right season and a seller’s market if possible.
While your local market may vary depending on where you live, if you are in need of any guidance about the selling process, I am more than happy to help! Learn how the Robin Hickman Realty team can help you with home-buying, selling, and more in the Charlotte, NC, area!
