4 Reasons Why Now is the Best Time to Sell a Home
By Ben Borhani
December 30, 2015
Time and time again, this question is often at the top of home seller minds. When is the best time to sell a home, and make sure that you get the best price possible? Although home prices can sometimes look like a roller coaster of ups and downs, historical trends show us that a certain time period tends to provide the highest sales prices for listing properties: SPRING AND SUMMER
Sure, data shows that these seasons are the best time to sell a home, but what are the reasons for this? Well, there are a few, and when you take them into consideration, it becomes pretty clear why spring and summer prove the best for home listings:
Atmosphere of spring and summer make it the best time to sell a home
Whereas in the Winter people generally spend more time indoors, the warmth and brightness of summer have people spending their days out and about. In addition, these seasons present a colorful and joyful environment that let sellers show off the best features about their homes.
People move most in the summer, and higher demand leads to higher sales prices
Although common knowledge tells us that increased demand and inventory in economic markets means more competition, driving prices down, this is not the case with the housing market. Realtor.com’s chief economist, Jonathan Smoke, claims that “it sounds counter intuitive, but its a function of demand being very seasonal, driven by weather and school year.” By listing your home during Spring and Summer, it ensures maximum exposure to the highest number of potential buyers.
Volume of home sales increases the appraisal value for your home
Another reason why these seasons tend to be the best time to sell a home is because of the boost in activity and transactions that occur in this time. Appraisers take into consideration the data of home sales and their prices when making a valuation on your home. So it only makes sense that as volume of sold homes increases, and the prices they sell for also go up, that the appraisal valuation on your listing will be higher than less active times of the year.
Sellers have a lot of control
During the hot season for home sales, there are a lot of choices for potential buyers to decide on. However, what makes this the best time to sell a home is that sellers also have a lot of control and negotiation power. Although the number of houses on the market has increased, so has the amount of qualified buyers that are actively seeking on finding their dream homes. This gives sellers an upper-hand as opposed to other seasons, as they do not have to worry about a scarcity in home buyers.
These are just a few of the many reasons why spring and summer have proven to be the best time to sell a home. However, certain events and occasions can force people to move from their homes at less opportune times. Regardless of when or why you decide to sell your house, you can rest assured that listing with the Mehri & Jerry Team will bring you the best possible price. Our network of active home buyers gives sellers access to qualified buyers at all times of the year.