Ahhh… selling your home. When is the best time to reach the most prospective buyers in YOUR market? And when will it be the easiest on you? In our latest post, we will help you figure out when it’s the best time to sell your house!
The Best Time to Sell Your Home in COLUMBIA
Is there a particular season that is better than the others?
They always say people are buying in the spring and summer. School is out, relocating becomes more tangible and the weather is conducive for going house hunting. Statistics show more people are buying when it’s warm, so you will likely have a larger pool of prospective buyers! Start with spring cleaning to prep your home, and get ready to list it in sometime between April and June!
Of course, if you are selling a home you own that is located in a warmer climate, such as Southern California or South Florida, cold weather isn’t as much of a concern. In fact, sometimes winter proves to be a better time to sell because all the snowbirds are in town. You will likely have people in the area from all over the country, and a great pool of prospective buyers checking out your house.
The conventional wisdom in real estate often emphasizes the spring and summer months as the prime seasons for selling a home. This preference is grounded in practical considerations such as favorable weather, school breaks, and increased opportunities for relocation during these periods. The mild temperatures and longer days of spring and summer create an inviting atmosphere for potential buyers to explore homes and neighborhoods. Families, in particular, find it convenient to move during the summer when schools are on break, ensuring a smoother transition for their children. Additionally, companies often schedule relocations during these months to minimize disruptions to employees’ work and family lives, further expanding the pool of potential homebuyers.
However, it’s crucial to recognize that this general trend doesn’t universally apply. In regions with warmer climates like Southern California or South Florida, where winter weather is less of a concern, selling a home in the winter may present unique advantages. The winter season can be opportune in these areas due to the presence of “snowbirds” – individuals from colder regions seeking refuge from harsh weather. These winter visitors, combined with the influx of tourists during the peak season, can create a diverse and robust pool of prospective buyers. Additionally, the absence of extreme weather conditions in warmer climates allows for a more fluid and year-round approach to selling homes. Therefore, while spring and summer may be traditional peaks in real estate activity, the dynamics of each specific region should be carefully considered when deciding the optimal time to list a property.
Are you ready to sell?
You need first to ask yourself if you are financially ready to sell. There are costs associated with selling your home such as repairs, clean-up, and making it look nice. Do you need to move by a certain date? Or be able to get another mortgage for a new house? If so, this can add pressure which can stress you out and sometimes make you sell for less than you were planning on.
Are you and your family emotionally ready? If the move isn’t necessary, make sure it’s really the best time to go. Are your kids almost out of school? Are you certain you want to leave your friends, job, and community? Make sure you are making the right choice before making such an impactful decision for your family.
What the stats say:
Nationwide, homes listed between May 1 and May 15 sold around nine days faster and for nearly 1% more than the average listing, according to Zillow. (Your real estate agent may have different advice based on local market trends.)
As far as the day of the week, listing on a Saturday is favorable as that is when most people have the time to sit down and peruse listings. And since listings often appear with the newest ones first, getting yours at the top of the list will help you to get more views. Listing on a Friday is the 2nd best way to go statistically!
In some parts of the country, houses are selling 1-3% higher in May. Do your homework and research annual housing trends for your particular neighborhood! If you have questions, Intrepid Property Solutions is happy to help you review historical trends!
Being Different Can Be Beneficial
While summer is preferred by many people, there is something to be said about not doing what everyone else is doing. Selling in the offseason can have its perks as well. Your pool of buyers might be smaller, but the pool of available homes will be as well. This is your chance to make your home stand out from the one across the street. Less competition on the market might mean a bigger reward for you!
Opting to sell a home during the offseason, while less conventional, brings its own set of advantages. While the pool of potential buyers might be smaller, the reduced competition in the market is a notable benefit. This presents an opportunity for your home to stand out amidst a smaller selection of available properties, potentially leading to a quicker sale. Serious buyers active during the offseason are often more motivated, whether due to relocation, changing family circumstances, or the desire to capitalize on potential offseason deals. With a smaller inventory, sellers may have more negotiating power, and the streamlined process can result in a faster closing. Additionally, offseason selling allows for a focus on highlighting seasonal features of the home, such as a cozy fireplace or a well-maintained yard in fall. This strategic approach can create a positive impression and attract buyers looking for unique, standout properties. Ultimately, selling during the offseason provides flexibility and a chance for your home to shine in a market with less competition.