Lots of factors go into a successful home sale–even the time of year when you list it.
These days, it’s a seller’s market, but as real estate experts know, that dynamic can change. If you’re thinking about selling your house, you’ll want to avoid any possible pitfalls, including listing during the worst months to sell a home.
Timing plays an important role in the real estate marketplace as it does in many other industries. Learn some listing tips here so you can avoid selling your house at a time when it’s least advantageous to you.
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When Is the Worst Time to Sell a House?
According to reports, the worst two months to list your house are October and December. During October, families are contending with back-to-school concerns and also gearing up for the holidays. December, of course, is prime-time holiday season. Many house hunters opt to delay their home shopping plans until after the holidays.
October and December are the worst months to sell a home according to the numbers too. During these two months, sellers have the least amount of success achieving their asking price and making a sale compared to other months. That doesn’t mean that your home won’t fetch you a great deal, especially in a seller’s market, but you’ll always wonder–would the deal be better if I’d waited until May or June?
According to some reports, the median premium for sellers is just 3.3% for those selling their house in October or December. During other months, (we’ll get to those in just a bit), the premium rises to more than 9%. Consequently, sellers who can afford to wait may make more profit on the sale of their house.
Consider the Weather
During the months of October, November, and December, the weather isn’t always on property sellers’ side either. Cold rains lead to mud and puddles. Imagine visitors tracking into your open house with their muddy or slush-covered shoes and boots? If you’ve had your carpet professionally cleaned, you may be hesitant about listing during any foul weather months.
Also, during these months, the house is often closed up. That means pet smells can linger longer and even intensify. During the warmer months, you have the option of airing out your house daily by opening windows. If you live in a climate that gets heavy snowfalls beginning in October, you should also consider that many buyers simply don’t want to move during snowy, icy conditions and will, necessarily, postpone their moving plans until the spring or summer.
What Are the Best Months to Sell a House?
Home sale numbers suggest that May and June are the best times to sell a house. By late spring, the weather becomes more consistently warm and less rainy, which makes moving easier for people. Children complete the school year by late May or early June, and this frees up parents to move without worrying about pulling their kids out of one school and putting them in another midyear.
Because many people take summer vacations in July and August, house hunting in the spring won’t detract from vacation plans. Moving in the intense heat of July and August are also unappealing to some real estate buyers.
Is There a Best and Worst Day for Selling a House?
Actually, there are best and worst days for listing real estate. Poor Monday. Nobody loves Mondays–not even home buyers. According to the data, the least advantageous time for sellers to list their home is on a Monday. Simply by waiting until Thursday, could benefit your sale (on average) with an increase of more than $3,000. Why is this?
Practically speaking, many people are focused on their work week on a Monday. As they move toward the weekend, they begin to line up their house hunting plans. By listing on a Thursday, you’re apt to show up early in searches for new listings just as buyers are considering which properties to visit. Listing on a Sunday or Monday could result in your house sitting in the marketplace longer, too. Homes listed on these days are associated with longer periods of time spent in the market.
Timing Isn’t Everything–But It Matters
Keep in mind that the data reflected here refers to averages. There are certainly examples of successful Monday listings and fruitful December sales. If you are trying to sell your home quickly, you may have no choice but to list in October or December. On the other hand, if you have time to wait until a more advantageous time period, you could achieve a better deal–as statistics show.
Lots of factors are involved in selling a house. Listing the house on a certain day or within a certain month are just a few of them. However, when you understand why certain months aren’t as advantageous as others, you can see there’s a certain practicality associated with how sales play out–or don’t. It makes sense that the holiday season is a downtime for the real estate market. People are busy shopping and seeing friends and family during this time.
What Other Factors Should I Consider Before Listing My House?
If you intend to market your home to families, late spring is a great time to do it because, as mentioned, school will be out soon and parents can make their move before the next school year begins in late summer. If you live in a warmer climate, you might choose to list early in the new year. At that point, the holidays are over and people are eager to make changes. If weather isn’t a prohibitive element in your area, you might want to list in January or February.
The type of house you’re selling can impact when you are likely to get the best deal. For instance, if you’re selling a beach house, the best time to do so is before the summer season or right after it. If you’re selling a house in an area that’s popular for its winter sports like skiing, you might make an advantageous sale during the winter months because that’s when there are so many visitors to the area.
Your climate can also contribute or reduce your home’s curb appeal. For instance, winter can be a tough time for selling houses in the north. Unless you have a landscape with plenty of winter interest, the property can appear bleak and unattractive. On the other hand, if you get great autumn color, fall might be the best time of year to sell your home. Consider your home’s seasonal appeal when choosing a listing month.
I Don’t Have Time to Worry about Timing!
Many sellers don’t have time to play games with the real estate market. They’ve made the decision to sell, they’re ready to move on with their lives, and they just want to unload their house now. That’s understandable. They may not have time for the psychology of “staging” their home, moving all their personal photos into storage, or painting all their walls a neutral color. This, too, is understandable.
Fortunately, home sellers have many different options today for selling their home. Some are choosing to list online and sell to an iBuyer without the hassle of the real estate marketplace and it’s conventional obstacles like open houses and repairs. The iBuyer method definitely takes the headache out of selling a house. It may be the ideal option for you.
What’s Involved in Selling to an iBuyer?
If you decide to sell to an iBuyer, you simply submit your address on a site like iBuyer.com and wait for cash offers. Buyers already assume that you’re selling your house as is. They’re not looking to negotiate over the current state of your siding or the age of your furnace.
They assess information about your listing, peruse your photos, make use of tools that help them find out what other similar houses in your locale have sold for, and then they make you an offer based on their data. They make cash offers, so you don’t have to worry about banks and contracts falling through!
Is Selling to an iBuyer Right for You?
Many sellers are thrilled to sell to an iBuyer rather than go through the conventional real estate marketplace route. One thing to remember–you can decline offers made to you. If you receive a cash offer that is unappealing to you, you don’t have to accept it. You can always take the conventional route afterward.
However, if you do receive a terrific offer from an iBuyer that you believe is fair, you can accept it and sell your home in mere days! Many sellers are excited to have this type of option. If you want to sell your house quickly without any headaches, this is definitely a route you should consider.
Visit iBuyer.com to learn more about the advantages associated with selling real estate to an iBuyer. It might be the ideal way for you to proceed selling your home.