Selling a house is a big decision that needs a second thought. If you decide to sell the house, you need to choose the best time to sell a house. This is crucial because you want to generate a lot of interest in the property to help you sell it at the highest possible price. Be sure to sell the house when you have built up sufficient equity. The sale will help you recover enough funds to offset the mortgage balance, pay closing costs and still get some profit. It is also recommended you watch the market to identify a period when houses for sale are in short supply. Additionally, property owners should sell when interest rates in the market are at their lowest.
What is the Best Month to Sell a House?
In addition to market conditions, prevailing interest rates, and the amount of equity you have in the property, seasons also have a significant impact on the real estate market. Before you sell the house, you need to identify the best season and month to sell it. Spring is hailed as the best month to buy or sell a house. Prospective buyers usually start house-hunting in late winter, between January to February. As the snow begins thawing in early spring, interested buyers usually venture into the market. This makes the months of March-May the best for both buying and selling houses. If you would like to attract the best buyers, you must complete all the renovations before winter. Be sure to do your spring cleaning as part of the preparations to take the property into the market. The earlier you sell your property in spring, the better the results. Market research shows that March and April are the best for selling a house.
What Time of Year is the Worst to Sell a House?
House-hunting requires more than just sitting on a couch and searching for properties for sale online. You have to go out, speak to a few realtors and view a few properties for sale. In the dead of winter, most people are often locked indoors to avoid the low temperatures and hazards of winter weather. This makes winter the worst season to sell a house. If nobody is interested in viewing the property, nobody will buy the house. If you are desperate enough, you can easily be convinced to reduce the price considerably just to generate some interest in the property. The worst month of the year to sell a house is in December. If you decide to sell your house in December, consider holding off the sale a few months until winter is over. This will be a wonderful time to spend one last holiday season with the family in your home. Your patience will be rewarded as the Spring Market is usually flooded with buyers who have saved up enough money to buy the home of their dream in spring.
What is the Slowest Month for Real Estate Sales?
The real estate market needs both buyers and sellers to work. Buyers create demand when they start house-hunting while sellers fulfill the demand by putting up their homes for sale. The slowest time for real estate sales occurs when there are no buyers in the market and homeowners are not thinking of selling. This is usually in November and December. The only things that sellers think about during the holiday season are decorating their homes for the holidays and staying in the comfort and warmth of their homes. On the other hand, buyers want to have parties and enjoy themselves indoors as opposed to going outside for showings. That is why there is usually little activity in the real estate market during the holiday season. This makes the months of November and December the slowest for real estate sales.
Is it Better to Sell a House at the Beginning or End of the year?
As noted earlier, the best time to sell a house is in spring, between March and May. Most real estate transactions are usually reported during this period. Whether you are a buyer or seller, this is the time to do business. It is important to note, however, that since there is a lot of supply of houses for sale in spring, buyers often become choosy. Since your house may not necessarily be the best, it may take time to sell it. The property has to be at its absolute best if you are to attract the best buyers. Be sure to keep this in mind when selling. Once spring paves way for summer, activity in the market starts to stabilize, and gradually reduces in Fall. Towards the end of the year, there might be a few people selling their homes, and a few buyers who are looking for the perfect property. This means that you might be able to find the right buyer for the house towards the end of the year. Lets not forget that another possible solution could be to sell the property to a company buying houses for cash in the area. But it go’s without saying that not all we buy houses companies are trustworthy. So take the time to visit their website, read their reviews and Google them.
The bottom line is that in a vibrant real estate market, anything can happen. Knowing the market can help you decide on the best time to sell your house.
