When is the best time of year to sell your home? | Douglas Hill

When is the best time of year to sell your home?

Well, that depends on what you are trying to accomplish. If your employer is moving you across the country or if you have suffered a reduction in income, then the timing is a lot more apparent. Get your house on the market now! But if you are a planner and want to have the opportunity to get the highest price in a reasonable amount of time, then which season or rather which month should I put your house on the market? I would like to start off by saying that over the past twenty eight years in real estate sales and with over four hundred closed transactions, I can get the job done in any month of the year. But I have noticed a few natural trends that may help you in your decision making. Starting in the month of March, REALTORS will get an extra hour of daylight to show homes thanks to daylight savings time, the grass starts to return to a dark shade of green, the birds are singing, the snow hopefully has melted, and most people are well on their way to completing their tax returns and are now looking forward to a big refund. All in all, it is a very positive time of year. Ok, so which months typically have the highest sold price? May followed by June traditionally get the highest prices and in a relatively flat market it is all downhill from there for a number of reasons. In mid June public school closes for the summer and families will place more of their free time on vacations and other outdoor activities leaving little time to shop for a home. July is typically the hottest, most humid, as well as the most travelled month of the year. August is a families last attempt to get into a house and secure a specific geographic school zone. If your house is not sold by August, you could see foot traffic come to a standstill in the months of September and October as vacations are now over and it is back to business as usual and the kids are back to school getting on track with their study time. November may have a pulse as some families want to be in their new home by the holidays. December many homes come off the market as things cool down, retail shopping increases, and daylight savings has set in leaving very little time to compare properties. The majority of homes on the market in January and February are the homes that did not sell by August of the previous year and buyers have grown tired of seeing the same homes on the market for so long. Ok, everyone knows that, but do you know what month the homes with the highest sold prices are actually ready to list in the MLS and put on the market? Hands down it is the month of March. March brings new interest and increased buyer activity. Buyers finally have more inventory to consider and can be more decisive. Now, all that said, there are some things that can derail the natural selling season, such as a change in the interest rates. I can remember one Jan/Feb when the interest rates went down and homes sold like hot cakes at an IHOP on a fourth of July, leaving a stagnant Spring and Summer market. Now we have low interest rates with a lot of talk about when they will start to go up. According to Yellen's testimony today, the Fed rate will probably not go up until mid to late year. How will that affect the market? Need help getting your place ready to sell, just give me a call and I would be happy to meet with you and discuss ways to get the max out of your home with the least amount of stress.

Douglas Hill

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