About six million homes were sold in 2021, reaching the highest levels in 15 years. Plus, home prices rose almost 20% compared to a year before, reaching even higher in some areas.
If you want to sell your home quickly, and for a good price, timing is everything. Listing it for the best month to sell your home can help you find a buyer much quicker. Let’s take a look at what the best month to sell a house is.
What Is the Best Month to Sell a House?
Overall, late spring and early summer is the best time of year to sell a house. You should aim to sell your home between March and August. During this time, you’re more likely to be able to sell your house quickly.
In addition, you should be able to get a higher selling price. If your goal is to get the highest premium, then the best month to sell a home is May. Average seller premiums during May can reach 13.4%.
Many people prefer to buy a new home during the warmer weather, which means it’ll be easier to find a buyer for your home. This stems from the ease of moving in good weather, receiving extra money from tax refunds, and getting moved in during kids’ summer breaks.
If you live in a very hot climate, the best time of year to sell could be the early spring or fall to combat the hot weather.
What Is the Worst Month to Sell a House?
If you want to have the best experience selling your home, you should also consider which months to avoid. Fall and winter are generally considered less than ideal times to sell a house.
In fact, October and December have the lowest seller premiums, dropping to only half of May’s premiums at 5.8%.
Other Timing Factors to Consider
The housing market moves in a cycle. The type of market you are dealing with will also impact how quickly you can sell your home even from year to year.
In a seller’s market, there are more buyers than available homes. This means sellers have more control and can demand higher sale prices. Usually, seller’s markets last about 15 years.
If you are selling your home during a seller’s market, your home may be grabbed up quickly. Make sure you have plans to move out before you list your home for sale. You could also have issues with the appraisal value, so try to create a plan if this may happen.
On the other hand, a buyer’s market is when there are more houses than buyers. They generally only last about two or three years. It is more difficult to sell your house during a buyer’s market, so you may need to compete a bit.
If you’re selling during a buyer’s market, you might need to decrease your price or offer to pay closing costs. In addition, your home should be in peak condition.
Take Advantage of the Best Time of Year to Sell Your Home
If you have control over when you sell your home, there are a lot of benefits to doing so during the best month to sell a house. You’ll most likely sell your home quicker and be able to command a higher price by selling in the spring or early summer.
If you found this article helpful, be sure to check out our other real estate articles too.