Selling a house can give you a huge financial boost. As a seller, the question, “Which is the best time?” is always tough to decipher, though.
Each season affects house sales in a unique way, and timing is crucial for a profitable venture in selling your home. Winter, for example, is the worst time to sell. Buyers are escaping the cold blizzard and aren’t interested in lengthy negotiations, so house sales are slow.
When spring comes, however, everyone is eager to feel the sun on their faces, including the buyers searching for their dream homes.
Where you live can also have a direct impact on when to sell your house.
Seasons vary state by state, but April is generally the best time in the U.S. The listing price is up at the start of the year, typically by about 5.9%.
According to a REALTOR.COM report, other factors also come into play in April. The average:
- views per property are up 14.1%,
- price reductions are down -0.7%,
- days on the market are down -8.7% and
- active listings are down -5.2%.
Boring into the data above supports trends in median listing prices, property views, market median days, price drops, and the total volume of listings for the past three years. The first week of April shines above all other seasons.
The worst time to sell a home in the U.S. turns out to be between August and September. The peak for the home-buying season is June, but if you are looking to maximize your price and get the most profit, the first week of April is recommended.
Competition and price cuts are also low during this time. Considering the time it takes from listing to close, the first week of April is the best time for most buyers to close and move before the school year begins.
Declining mortgage rates also play a part in April’s vibrant buyer demand. Interest may drop below 4.5%, compared to nearly 5% in fall. Listing a property during this period will increase views by 14%, with a 5% less competition and a sale going 9% faster on average.
When you list your home for sale in April, the value of the listing also increases. Sale values are adversely affected by winter at the beginning of the year, for example. As the snow begins to thaw at the end of March, the price of the listing surges by nearly six percent.
This trend gains momentum in June when the prices reach even higher, and near the end of summer, it tends to decrease, as buyers start retreating.
If you want to make the most profit, list your home in April. It’s the most profitable time for most sellers. Your house will move faster than any period, and you will get to make some quick cash that will come in handy for a rainy day or a new home purchase.
Team Couch has ample experience in home buying and selling processes. We can even advise you on the details like getting your home in good shape before you put in the market. Why not give us a call today?