The decision to sell a house often comes with its own set of concerns. From finding the right buyer to getting the best price, there's a lot to think about. But one of the primary questions many homeowners have is, "When is the best time to put my house on the market?" Timing, it turns out, can significantly influence the sale price of your home. According to ATTOM
, you can sell your home for thousands of dollars more in the spring and early summer than in the winter. But let's dive deeper to understand the nuances of the housing market and the ideal times to make that sale.
Best Months to Sell
When it comes to maximizing the sales price of a home, not all months are created equal. Analyzing data over a decade can provide us with a clear picture of when homes tend to fetch higher prices compared to their estimated market value.
Below is a table showcasing sales data from 2011 to 2021, highlighting the months that have historically favored sellers in terms of premium over the median assessed value (AVM). 2011 to 2021 Sales of Single-Family Homes and Condos
||Median Sales Price
The above data from ATTOM
beautifully illustrates that the warmer months of May, June, and July tend to yield the highest seller premiums. However, it's essential to remember that this is a broad perspective, and specific markets or localities may have different patterns. Let's further explore some factors that contribute to these seasonal variations.
Selling your home season by season
Selling a house during autumn
The rustle of fallen leaves and the crisp, cool breeze of autumn carries with it a sense of nostalgia. While the summer heat fades, autumn presents a serene setting for potential home buyers. Picture it: your home surrounded by trees with leaves in hues of gold, red, and brown. Homes often feel cozier, and there's a certain warmth that permeates the air, making it an inviting season for buyers. However, as the days shorten, ensure your home is well-lit, both inside and out, to create a welcoming ambiance during showings.
Selling a house during winter
Winter, with its blanket of white snow and the shimmer of holiday lights, can evoke a profound sense of home and hearth. It's the time for fireplaces, hot cocoa, and the joyous spirit of the holidays. For those brave enough to venture into the housing market during these colder months, there's an opportunity to appeal to the emotional side of buyers. A well-decorated home, infused with the aroma of fresh baked goods or pine, can transport buyers into a dreamy winter wonderland, helping them envision their own holidays in your space.
Selling a house during spring
The rejuvenating spirit of spring, where life blossoms anew, is arguably one of the best times to sell your home. The world seems to awaken from its slumber, with blooming flowers and chirping birds painting a picture of new beginnings. This season brings out not just the beauty in nature but also the beauty of your home. With longer days and sunlit evenings, homes appear more vibrant, airy, and spacious. It's the season of renewal, and for many buyers, it signifies the perfect time to start a new chapter in a new home.
Selling a house during summer
The radiant summer sun, clear blue skies, and the song of cicadas in the evening make summer an exciting season to showcase your home. With school out and families looking to relocate before the new academic year, there's a flurry of activity in the housing market. Gardens are lush, pools are inviting, and barbecues beckon - these are the visions that can entice a buyer. Ensure your home provides a cool respite from the heat, perhaps with refreshing drinks during a viewing, to make potential buyers feel right at home.
Navigating peak market conditions
Selling in a market favoring buyers
In a buyer's market, potential homeowners have the upper hand, with numerous choices and room for negotiation. The emotional toll can be challenging for sellers, seeing your beloved home being evaluated and compared. It's essential to stand out in these conditions. Make every detail count, appeal to the emotional instincts of buyers, and create an environment that resonates as "the one" amidst a sea of options.
Selling in a market favoring sellers
When the scales tip in favor of sellers, it feels like the world is at your feet. Buyers are aplenty, but listings? Not so much. In this exhilarating race, buyers are often driven by a mix of excitement and fear of missing out. It's an emotional high for sellers. However, ensure that your home is not just another listing but a dream waiting to be realized for an eager buyer. Play into the emotions of urgency and desire to ensure a swift and profitable sale.
Selling when the mortgage rates are low
The ebb and flow of mortgage rates can be a decisive factor in the housing market. When rates dip, there's an unmistakable buzz in the air. Potential buyers feel the urgency, driven by the dream of owning a home and the reality of affordable rates. For sellers, it's a golden window of opportunity. But remember, it's not just about the sale—it's about creating connections, making potential buyers feel the heartbeat of your home, and letting them dream of the memories they can make there.
When Is the Right Time to Sell Your House?
Embracing a lifestyle shift
Life is fluid, constantly evolving, and changing. There comes a time when the walls of your home whisper the stories of the past, but you find yourself yearning for new tales. Perhaps your family is growing, or the kids have moved out, or maybe a new job beckons you to a different city. The best time to sell a house aligns with these personal milestones, ensuring that the shift feels not just necessary but emotionally fulfilling.
When your home is in tip-top shape
Homes, much like us, wear the marks of time. That leaky faucet, the creaky floorboard, or the faded paint on the bedroom wall might have stories to tell, but to potential buyers, they're distractions. When you've mended these small quirks, ensuring your home looks and feels its best, you're primed to attract buyers. A house in its best condition sells quickly, echoing the adage of first impressions mattering the most.
Stepping onto the stage with financial confidence
Selling a home isn't just an emotional journey; it's a significant financial transaction. Before plunging into the local housing market, ensure your finances are in top financial shape. This not only means understanding your home's market value but also having clarity on your subsequent moves. Whether you're buying another property, investing the proceeds, or perhaps downsizing, your journey will be smoother when you're financially prepared.
About Julia Monaghan
Julia Monaghan’s extensive experience in travel and tourism, collaborating with renowned entities like Travel Portland, Travel Oregon, and Marriott, offered her profound insights into the heart of Portland and its myriad offerings. If you're looking to buy or sell a home or have any questions about the Oregon real estate market, contact Julia Monaghan