What is the best time to sell a house? The simple answer to that question is that there is not a bad time to sell a house. But some seasons are certainly less of a challenge than others.
There is a seasonality that is very consistant for home sales while conveyancing melbourne. The graph below shows the typical shape of the sales curve for home sales in Wake County.
The first thing you’ll probably notice about this graph is the peak in June. June or July is typically the month each year with the highest number of sales.
There is a build up of sales that occurs each year, beginning in January, peaking somewhere around June, and hitting a low point in November.
Looking at this graph you might think the best time to sell a house is June. And statistically speaking that’s true. The odds are highest in June because the number of sales is also highest.
But what if the right buyer for your home isn’t looking in June? And what do you do about competition? We don’t sell every house that is listed in June. Some get selected by the available buyers while others do not.
So let’s consider a strategy that takes advantage of the seasonality of home sales while making sure your home gets exposed to the widest possible range of potential home buyers.
If you have the luxury of choosing when you will list your home, the best time to sell a house begins in the Spring. Putting your home on the market in the February/March timeframe makes a lot of sense.
This puts you at the beginning of the build up of sales. All of the months ahead have increasing sales up through June. Right now well priced, presented, and marketed homes are selling in about 120 days. Listing at the end of February puts your 120 days in the build up months of March – June.
As long as you are listed by April you will be able to capture the highest volume months within the typical 120 day selling cycle.
So without any other consideration I would say that the best time to sell a house is to list it March 1st.
Having said all that, I would be remiss if I did not address having to sell a house with other time constraints. Perhaps you get a new job in the fall and need to list your home in October.
Well, the good news is we actually do sell houses in October. As a matter of fact December can be a fairly active month. Lots of people want to take advantage of the tax write-off of a home purchase in the current year and this is always a little boost in sales. And don’t forget that our robust relocation market provides buyers throughout the year.
The important thing is to know what part of the selling season is ahead when you list. If there are no other constraints, then Spring is the best time to sell a house. If you have a need or opportunity that requires you to move at a different time, you should contact a real estate professional to discuss strategies.
People who sell their home in November, the low point on the graph, might very well tell you that is the best time to sell a house. If listing in the Spring is not possible for you, then we’ll simply come up with a plan that takes full advantage of the competitive landscape whenever you need to sell.
Selling a house can be done round the year, but it is important to consider profits while doing so. You need to contact a real estate professional in order to get the best deals. Research all the houses on the market and make sure your house is in trend to keep the conversation.