Best and Worst Time to Sell a House?
Discover the best and worst times to sell your house, maximizing your profit and minimizing your stress with these expert insights.
The perfect property sale requires perfect timing.
Thankfully, our experts have analyzed the latest seasonal trends, monthly and daily real estate figures, and market conditions to cook up the perfect formula for your selling journey.
Whether you're planning to sell quickly or maximize your profit, knowing when to act is crucial. We Buy Houses Springfield MO offers insights and services that can help you take advantage of the best market conditions.
Good timing equals increased profits and decreased time spent on the market.
Ready to become a whizz of knowing When and When Not To sell? Dive in.
Seasonal Trends
Spring and Summer are conclusively considered to be the best seasons for home sales.
The pleasant weather and longer days encourage more movement and activity in potential buyers. Purchasing a home is as much a feeling as it is a financial decision. Buyers who wake up feeling good about the day may also feel more inclined to match your selling price.
Another key factor lies in the fact that the summer break affords homeowners with children the chance to relocate outside of the busy school year. It just makes sense that the greater majority of families choose to begin (and finalize) their property decisions between Spring and Summer.
Best Months to Sell a Home (Statistically!)
February, April, May and June are statistically the best months to sell a home.
We point to a study published in May 2024 by ATTOM, leading curator of land, property, and real estate data, where an analysis of 59 million home sales between 2011 and 2023 yielded the following results:
February, April and May hold the highest seller premiums, with homes selling on average at 12.8%, 12.5% and 13.1% above market value respectively.
June held a slightly lower seller premium at 12.4%. However, June has the highest number of sales of any month in the year, a fact which must be taken into consideration when analyzing the marginally lower seller premium.
So, selling in any of the above months suits homeowners seeking the highest sales prices available.
In terms of frequency, ATTOM’s data shows that the months of June, July, and August have the highest number of sales, supporting the theory that more buyers begin their search in Spring and finalize their sales before the end of Summer.
Best Day to Put a House on the Market
According to real estate data across the board, Thursday is the best day of the week to consider listing your property.
Houses listed on Thursdays can sometimes sell for $3,000 more than houses listed on Sundays and Mondays (the worst days to list).
The logic behind this lies in the common knowledge that most house showings take place on weekends and that prospective buyers and real estate agents begin plans to attend these showings later in the week, closer to the time. Brand new listings just appear more valuable to buyers—shiny things and all that!
ATTOM’s data goes further to suggest that a Thursday towards the back end of the month would be the optimal day to put a house on the market, as most of their ‘top 20 days to sell’ lie between the 22nd and 30th days of the month. This comes down to buyers being more inclined to look at properties in and around payday.
ATTOM’s Best Day of the Year to Sell a Home Award goes to May 27th, with a seller premium of a whopping 16.2%.
Worst Months to Sell a Home (Statistically!)
September, October, November, and January are statistically the worst months to sell a home.
September, October, and November hold the lowest seller premiums, with homes selling on average at only 8.8%, 9.5%, and 9.5% above market value, respectively.
January held a slightly higher seller premium at 10.6%. However, with a considerably lower number of sales than the other weak months, the odds of finding a buyer at all in January are stacked against you a little higher.
It's safe to say sellers looking to sell in the Fall and Winter months face an uphill battle, both in securing their selling price or even prospective buyer engagement.
The end of summer rings in the start of a new school year, a time where few parents are looking to disrupt the family. The busy end of year Christmas holidays are also not often associated with relocations.
In terms of frequency, ATTOM’s data shows that the months of November, December and January have the lowest number of sales, proving that buyers prefer less movement in the dark days of winter. February is an outlier in the sense that it also has a notably low number of sales but the second-highest seller premium and is therefore considered a good selling month.
Additional Factors to Consider
Economic Conditions
Interest rates significantly impact prospective homeowners' financial decisions. High interest rates do not favor purchasing a home, as the cost of securing a loan may be too taxing.
Market Conditions - Sellers or Buyers Market
In real estate, a seller's market is characterized by low inventory and high sales prices, which favor the seller. The 2024 Housing Market continues to be a seller’s market.
Local Market Insights
Real estate agents are experts in the market they operate in and can assist you with a selling strategy that incorporates optimal timing.
Consult with reputable agents in your area for valuable insights into the current state of your local housing market.
When You Need To Sell a Home
Timing is of the essence, but life is complicated and sometimes the best time to sell is when you need to sell.
Guard against waiting for that ‘perfect time’ if you need to sell your home for any of the following reasons:
1. Medical Reasons
Considering selling your home to cover costly medical expenses is a reality many face.
While hospitals cannot directly take your home to recover unpaid medical bills, they do have access to certain legal remedies, which ultimately place your property at risk.
A hospital will often sell your medical debt to a collection agency with the personnel and experience to obtain a judgment against you, placing a lien on your property.
Some tips to avoid falling into this situation:
Proactive financial planning through comprehensive health insurance or an emergency savings fund.
Legal protections such as applying for a Homestead Exemption protect the value of your primary residence from creditors.
Making use of a Home Equity Line of Credit (HELOC), where your home offers you a flexible credit facility.
Selling your property to a cash home buyer, who can offer you immediate funds without the need for financing or mortgage approval, often capable of finalizing deals in a matter of days to weeks.
Look for "We Buy Houses" companies that specialize in fast, as-is purchases. This option can provide a quick resolution, allowing you to move forward and focus on your health without the looming stress of medical debt.
Capitalizing on the various options available to you or offloading your property on your own terms can give you the financial freedom you or your loved one deserve, offering a fairer alternative to being forced into selling your home because of illness or medical bills.
2. Relocating for Work
The perfect time to sell a home can wait if the perfect job offer arrives first.
Gitnux’s 2023 Market Data Report noted that 40% of people are willing to relocate to advance their careers, as they should.
Personal advancement, particularly with the promise of substantial financial growth, should be prioritized over securing the prime listing month for your property. In these circumstances, investing in yourself will always pay off.
3. Changes in Family Dynamics or Retirement
There is no need to remain in a home that has already moved on.
According to the National Association of Realtors 2023 Report, 52% of home sellers were made up of people between the ages of 58 and 76 years old. This age group is commonly associated with retirement and ‘empty nesters,’ and as far as property sales go, commonly associated with selling the family home.
Families in this position will benefit from selling sooner rather than later, as the financial savings of downsizing from a family home to any of the alternatives certainly add up.
Weigh up the pros and cons of waiting to sell at the perfect time vs selling immediately and getting stuck into the golden days of the rest of your life.
Frequently Asked Questions
What is the best day of the week to reduce the price of a house?
Just as Thursday is the best day to list a house due to increased estate agent and buyer engagement, Thursday would also be the most effective day for sellers to reduce their price, allowing parties to notice any competitive pricing differences before the show and open house weekends.
What do I do to prepare my house for listing?
Get home records in order. Attend to minor necessary repairs. Deep clean, declutter, and depersonalize. Enhance curb appeal. Consult with an estate agent. Determine market value and best time to list.
In Summary
Timing plays a crucial role in sellers being able to squeeze as much as they can out of the deal.
Seasonal trends dictate the proceedings, and the best selling months are in Spring and Summer, particularly from February to June, when seller premiums are at their highest. Listing towards the end of each month also increases the chances of selling success.
On the contrary, selling in Fall and Winter can be far from optimal. Prospective buyers are wary of relocating during the school year, busy holiday period, or simply less interested in house hunting due to poor weather conditions. Those interested in maximum profits should take care to avoid listing between September and January.
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