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As a broker, it’s a common question from sellers. When is the best time to list my home? I thought this article by Jacklyn Renz hit right on the mark. There are pros and cons in any season, depending on your situation. I think there is also some room for discussion in our Bend market. What are your thoughts as a buyer? As a seller?
Selling Throughout The Seasons
by Jacklyn Renz
Whether the flowers are in bloom or the snow is in flurry fury, it may be on your mind to put your house on the market. Perhaps the sell is necessary for a job relocation, or you need to upgrade size. The main thing to note is that there are pros and cons to selling in each season. Here’s a look at both sides of the coin when it comes to selling throughout the seasons.
Hot Summer Market
The housing market really sizzles in the summer months. Despite the warmer temperatures in some regions of the country, the majority of house hunters and home sellers are in the full swing of things just after Memorial Day. In fact, the housing market in June is 29% above the national average. School is out and many families with children are looking to relocate before school goes back in session. One con of selling during the summer is the upkeep of the quickly growing foliage as well as the costs of keeping your home attractively cool for potential buyers.
Falling Leaves Equal Falling Prices
As the real estate markets begins to taper off during the fall season, the prices of homes fall too. Again, the school year comes into play as less people are looking to move during the academic term. Less demand drives down the price that your home may sell for in the on-season markets of spring and summer. One pro to selling in the fall is the seller will see more motivated buyers. On the other side of the spectrum, you may see thrifty shoppers looking for a deal.
The Winter Months
Everything seems to hibernate in the winter, including the housing market. Things are slow as people save for the holidays and recuperate from travel and gifting expenditures. Again, a pro in the winter is that the buyer that may be in need of a new home will have less options out there, making your home a prize to be won. In addition to chilly, unattractive temperatures, there is less curb appeal to attract the potential buyer.
Springtime is Primetime
Homes really shine in the spring weather. Flowers are blooming and the days are getting longer, so buyers are out looking as long as the daylight lasts. Second only to the summer, spring is a wonderful time to list a home for prime price. The competition for buyers is hot, so one downside to selling during this season is that buyers can afford to be more picky. An upside, which also applies to the summer months, is that buyers may get in bidding wars for your home, thus driving a higher price tag.
Overall, the on-season for listing your home are the spring and summer months. The off-season are the fall and winter months. The best time to list is at the beginning of the spring season as buyers emerge for the hunt. There is still possible potential for a home selling well in the off-season, especially in regions where the weather remains fairly temperate all year long. Equip yourself with knowledge of your local market, professional help when needed, as well as good staging, and your house selling experience is sure to be successful!
sources: realtor.com, forbes.com