Times are changing and you’re thinking about moving the family into a new home. But before you start searching for your next dream home, you’ll need to figure out when you’re going to sell your existing home. The decision is a complex one, especially considering the unpredictable economic environment you’re living in. And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.
The "wrong time" to sell
This likely won’t come as a big surprise: many "experts" say you should avoid selling your home during the winter holiday season. Tensions run high during the holidays and budgets run low. The result? Very few people are really itching to buy, and showings will be fewer versus spring. The flip side is that people looking during the holiday season or dead of winter tend to be serious buyers and the competition will be low.
The "best season" for selling
Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have past, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. And while spring is the season that sees the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging. We believe the "best time" to list your home is mid-February so you can beat the competition to the market and sell before the mass influx of inventory.
The best day for selling
According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.