Sellers always want to know: “When is the best time to sell my home?”. Many automatically think that spring is the best time: after winter is officially over, when their yards look the best, and as kids are finishing their school year. Surprisingly, putting your home on the market in the winter, specifically from January to March is more advantageous. According to a study by Redfin, this theory was confirmed. In their research, they tracked list to sales price, and days on market from October 2010 to December 2014 across several real estate markets. After analyzing four years of research, Redfin concluded that winter months offered sellers: higher percentage of “above asking” sales prices, less competition with other homes and more serious buyers than other times of the year. Along with potentially higher prices, homes were also on the market less time than other points during the year.
Redfin’s study also concluded that if sellers want to get more than their asking price, they have a better odds listing their home in December through March, compared to June through November. The reason for this, is simply competition and inventory available to buyers. When more housing options are available through the summer and fall months, buyers can choose between a number of homes. While some markets may differ, housing markets across the country saw better sales prices, in early months, compared to later in the year. Additional info on the Redfin study can be found here: Best time to list?
Although each individual seller’s situation and home is different, if you would like to know more about the best time to sell your house, contact us today for more details.