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Which Season Is The Best For Selling?
It's a well-known fact that the real estate market cools off in the fall and winter and picks up in the spring, but what is really the best season to sell your property? The answer ultimately depends on your situation and location. The reality is each season comes with its own unique advantages and challenges. To help you determine the best season for selling, we'll break down the top advantage and challenge of each season below:
Selling In The Spring
Many people believe spring is the best time to sell your home, but that really depends on where you live. While spring is often the most popular time to shop, some southern states experience intense weather in late spring. Competition is also at its peak. Here are some of the benefits
- Advantages: Warmer weather in most areas and tax refund checks mean more buyers are hitting the market.
- Disadvantages: More buyers also means more sellers, so the competition begins to really pick up. Kids are also still in school, so moving is more difficult.
Selling In The Summer
Statistics show that late June has the highest number of closings, indicating summer is an ideal time to sell. It's also the most popular time to move, especially because school is out. However, extreme heat in some areas of the country coupled with vacation times can drag out the closing process.
- Advantages: Longer days and warm weather means more buyers are hunting. Many buyers are also motivated to find a home before school starts.
- Disadvantages: Weather, vacations, and busy schedules may delay closings. Plus, competition is likely still very high.
Selling In The Fall
Once school starts, there is a noticeable decline in real estate activity, but that doesn't mean fall is a bad time to sell. There are still many buyers on the market that couldn't secure a home in the spring or summer. Selling in late September / or early October has both pros and cons:
- Advantages: Fewer listings mean less competition, and many buyers are extra motivated to close before winter. It's also easier to find home repair professionals.
- Disadvantages: Cooler weather might keep buyers away. Those who are shopping may be more demanding due to less competition. Curb appeal also generally declines in the fall as landscaping begins to deteriorate.
Selling In The Winter
December is often considered to be the slowest month for real estate closings. Cold weather means fewer shoppers in most of the country, but competition is probably at its lowest point of the year. If you live in Florida, Arizona, or Southern California, winter is likely a great time to sell.
- Advantages: There is less competition, and buyers are likely highly motivated.
- Disadvantage: There are fewer shoppers, especially around the holidays. Depending on location, it can be a difficult time to make renovations. Many buyers are looking for a deal.
It's certainly possible to sell your home any time of the year, and so often the right season depends on your property, location, and situation. Your real estate agent is a great resource to help you assess the market and determine the best time to list your home.
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