If you want to sell your house fast and for top dollar, it’s important to pay attention to the timing of your home sale. In some cases, you can’t help when you need to sell your home– for example, if you’re moving for a new job.
But if you can afford to wait, timing your sale for the most optimal times of the year and the best market conditions can ensure a successful sale. In this post, our real estate experts at Your Home Sold Guaranteed Realty Elite - The Augustine Team will discuss the best time of year to sell a house and what factors affect a home sale.
- Spring, particularly March through June, is traditionally the best time to sell a house in most markets.
- During spring months, markets tend to have higher buyer demand but still fairly low inventory early in the season.
- However, if you’re selling in winter you should expect that your home may take longer to sell and you may have to reduce your asking price if it isn’t aligned with market value.
When is the Best Time to Sell a House?
It’s important to keep in mind that the best time to sell a house will depend on the exact market you’re in. Market conditions vary across neighbourhoods, cities, and counties. But in general, the spring and summer months are the best times for a home sale.
Spring, particularly March through June, is traditionally the best time to sell a house in most markets because as the weather warms up after winter, many buyers choose to start their house-hunting journeys. This is especially the case for families looking to move towards the end of the current school year.
During spring months, markets tend to have higher buyer demand but still fairly low inventory early in the season. This is good news for home sellers because it means they have more leverage and can get their houses to sell faster and closer to their desired asking prices.
Summer is also a good time to sell your house, though the later summer months going into fall usually experience slower markets as families take vacations and kids prepare to go back to school.
If you’re selling your home in the summertime, be prepared to have your house ready for quick showings to capture buyers before they check out of house hunting season.
Should You Sell Your House in Hamilton in the Winter?
While typically slower, late fall into winter can still be a good time to sell. Any home buyers during this season are likely to be more serious and motivated to find a home before or during the holidays. There are also fewer competing listings, which would give you more leverage over any buyers in the market.
However, if you’re selling in winter you should expect that your home may take longer to sell and you may have to reduce your asking price if it isn’t aligned with market value.
If you don’t want to lower your asking price, you can consider alternatives like offering concessions or other incentives. For example, paying for the buyers’ closing costs.
Another factor to consider when selling during winter is weather constraints that may impact the ability of buyers to show up for open houses and showings.
What Other Factors Affect the Timing of a Home Sale?
Aside from seasonality, you should also consider these factors when timing a home sale:
- Buyer’s market vs. seller’s market: When inventory is low and buyer demand is high, this gives you more leverage in the market and more control in setting your asking price. When inventory is high and demand is low, the buyer will have more leverage in the transaction.
- Low interest rates vs. high interest rates: Low interest rates mean it’s easier for buyers to get mortgages and afford higher home prices. High interest rates, on the other hand, often cause buyer demand to fall.
- Economic conditions: When the economy is strong, it results in confident buyers. Tough economic conditions like inflation, unemployment, high interest rates, and recession cause uncertainty and a drop in buyer demand.
- Condition of your home: Your home’s condition affects how fast it sells. If you’ve made upgrades or renovations to your home that increase its market value, it may see more interest from buyers. Most buyers are willing to pay a higher price for a move-in ready home. Check out our Get Your Home Ready Offer…
Timing your home sale strategically gives you the best advantage possible. While you can’t control housing market trends and buyer demand, staging and pricing your home to reflect the current conditions are key to a quick sale.
Talk to a local real estate professional for insights on current trends in your specific area before determining the best moment to list. With the right prep work and marketing plan, you can sell your house successfully, no matter what time of year it is.
If You Need to Sell in Hamilton, Contact Steve Augustine
Selling your house in Burlington, Grimsby, or Hamilton is easy when you work with Steve Augustine and Your Home Sold Guaranteed Realty Elite - The Augustine Team. Our team has developed a reputation as a top realtor in Hamilton due to our quick home sales.
Our selling speed is backed up by the data. On average, we sell homes three times faster than our competitors and for 4.4% more profit. Home sellers also love working with us because we offer unique seller guarantees like our Guaranteed Sale Program.