Timing can be anything when it comes to selling a home. What time of year you list your home on the month and even the day can affect how quickly and for how much your home can be sold. So if you are considering listing your home anytime soon and are wondering when is the best time to sell a home, it is important to consider which month is the best time to list your home. Read on to find out the best time to sell a home for the fastest turnaround and the most money.
Houses listed in spring sell faster and for more money
For the majority of the country, spring is usually the best time to sell a home. According to Redfin data, the homes listed in March and April not only sell the fastest, but also sell the most.
If we had to narrow it down to the best possible month to list your home, April comes first. As you can see in the table above, a home listed in April sells an average of 14 days faster and for $ 2,750 more than if the same home was listed in November. If April isn’t working for your timeframe, March and May are also excellent months to list your home on.
There are many factors that contribute to why spring is the best time to put your home up for sale. The weather is nicer and gives buyers more incentive to view houses. Flowers start to bloom and improve your curb appeal. And the houses are full of natural light and make your rooms feel open, warm and inviting. April is also the perfect time for shoppers whose kids want to move out and settle down so they can enjoy the summer with their family before the new school year starts.
Homes that are listed mid-week are selling for more money
In addition to listing your home in spring, Homes listed on a Tuesday, Wednesday, or Thursday will sell for an additional $ 1,700 listed as one on the weekend and it sells almost two days faster. Although the market is very competitive right now, no matter when homes are listed, they get many views. However, sellers can increase their potential sales value or decrease the number of days their home is on the market by listing during the week. With homes listed mid-week, potential buyers have time to do so View the list online, talk to your agent and plan a tour for the weekend. Home sellers can then typically review quotes on Monday or Tuesday of the following week.
Other factors to consider when selling your home
The local housing market: Due to the current shortage of stock due to COVID-19, Bidding wars between buyers are bigger than ever. Some homes get dozens of offers and sell well above their list prices in a flash. High-quality single-family homes are most likely to face tough competition. So if you are looking to sell, this may be the perfect time. * Research yours local housing market and speak to your agent for more information on how many homes are on sale in your area and how to fine-tune your prices to get the most deals, and maybe even trigger a bidding war.
Your financial situation: It is very important that you look at your finances before deciding whether this is the best time to buy a home. Buying a home is a big expense. In our current marketplace, pre-approving a mortgage and making sure you have enough cash to pay down your next home down is critical. Mortgage lender They will ask for your annual accounts and check your credit rating before making a pre-approval decision. If they think you are a good candidate for a loan, they decide on the maximum amount they are willing to lend you. Before deciding to sell, keep up to date with current market conditions to find out if the market value of your current home is more or less than the remaining balance on your mortgage.
By adjusting the Redfin data to separate the seasonal effects on housing, e.g. For example, we were able to measure home sales, which usually increase in spring and decrease in autumn, how the market behaves regardless of the time of year. We then analyzed home sales trends over the past few years and compared different months of the year to determine when to expect faster, cheaper home sales.
* Market conditions from April 22nd, 2021 *