Historically, May has been the greatest month to sell a home, but in recent years, that has shifted to March. Homes advertised between March 11 and March 18 in 2019 sold the fastest. Keep in mind that irregular data from 2020 was excluded.
Aim for the week of April 22 if you want to sell for more than the asking price. Also, aim to list before September, as this is when families begin to settle in for the start of the school year. By October, sellers are facing the most difficult weeks of the year for maximising profits: houses listed between October 14 and October 21 were the least likely to sell above asking price in 2019. You may also like to learn about the Blue World City.
When is the best time to list a home?
If you list your home on a Thursday, you’ll have a better chance of selling it faster and for more money.
All all factors being equal, homes listed on a Thursday typically go pending faster than any other day of the week. In a market where homes routinely sell in seven days, the difference is significant.
Homes that are listed on a Sunday stay on the market for an average of eight days longer than those that are posted on a Thursday. Saturday and Monday are only modestly better than Sunday; placing a property on the market on each of those days takes an average of seven days longer to sell than putting it on the market on Thursday.
Seasonality has an impact on when you should sell your home:
Spring is often the ideal time to advertise your property for sale, at least prior to the pandemic-fueled housing bubble. It’s when buyers emerge from their winter slumber and flood the market.
It’s unclear if 2021 will usher in a return to normalcy in this regard. Even if the fluctuations from season to season are less dramatic than in the past, seasonality in the housing market is likely to persist in some form.
Summertime is a great time to sell a home:
- Warm weather, school vacations, and just having more hours of sunshine to hit up open houses and take home tours are all factors that buyers consider while shopping in the spring. Of course, most people take vacations over the summer, so that might explain for some of the slowdown.
- In certain regions of the nation, real estate sales are slow in the summer because it’s just too hot to shop comfortably.
Fall is a great time to sell a home:
Many buyers looking in the early fall may be pressed for time to settle in before the school year begins or the weather turns poor, and this sense of urgency can help sellers. Many off-season customers, on the other hand, are relocating due to a job transfer, layoff, short sale, or family emergency, thus they may be more price sensitive.
In the winter, it’s difficult to sell a home:
While winter is generally the slowest season for house sales, if your environment is warm all year (think Florida and the Southwest), your selling window may be even wider in the winter as snowbirds rush to the sun.
When the market is at its height, sell:
Seasonality isn’t the only element to consider when choosing whether or not it’s the perfect time to sell your home. It’s also crucial to assess the health of the property market in your area.
In a buyer’s market, selling is a challenge:
When the amount of available homes for sale outnumbers the number of persons wanting to purchase, a buyers market develops. When inventory is high, sellers should anticipate their house to sit on the market for longer before receiving an offer, which may force you to sell below list price or make further concessions to the buyer.
In a seller’s market, it’s best to sell as soon as possible:
There are more potential house buyers than available properties in a seller’s market. A sellers market is the best time to sell your house since you can anticipate it to sell faster and receive several offers, as well as sell for full price (or above).
When you’re ready, sell:
When it comes down to it, the greatest moment to sell is when you are most comfortable. From career changes to family changes to just feeling ready, a variety of personal variables might influence your choice to sell. Consider the following factors:
Job changes, relocations, a growing family, and downsizing are the most typical reasons for individuals to sell their homes. Moving for work sometimes necessitates a stricter timeframe, although moving for family can occasionally be planned to take advantage of favourable market conditions.
Emotional preparedness: Regardless of why you’re moving, it’s critical that you’re emotionally prepared. Even if you’re relocating for a reasonable cause — say, you’re a recent empty-nester downsizing following the birth of your children — you should be cautious.
How long does it take to put a house on the market?
Before actually listing, sellers spend an average of seven months just thinking about selling. They also usually do at least a few house modifications.
The average time it takes for a property to sell in the United States is 55-70 days after it is listed, including the 25 days it spends on the market (a record low in 2020) and the customary closing duration.
With that in mind, you should plan on spending at least two months preparing to sell your property, which will give you enough time to research your local market, select a trustworthy agent, thoroughly clean your home, and perform any small repairs.
Muhammad Junaid is a CEO of VM Sol, senior Analyst, and Search Engine Expert. Extensive experience being an IT Manager in Kingdom Valley Islamabad. Work for years with local and international enterprises. Also, represent well-known brands in the UAE.