Is Spring Still a Good Time to Sell Your Home?
Selling your home begins with determining the best time to put it on the market.
For most of the country, this window is typically from March to May. Homes that are listed in spring and early summer not only tend to sell faster, but also for higher prices. Historically, housing sales begin to slow in late summer, and don’t return in full force again until the next spring.
But in 2020, the pandemic disrupted the housing market’s traditional seasonal pattern. After lockdowns froze the spring housing market, it rebounded in the early summer and has remained strong ever since. So is this just a one-time event caused by historically low interest rates and pandemic demand, or will seasonality be less pronounced than in the past?
Industry experts suggest that seasonality appears to be coming back to the market. “With the economy reopened and people back to traveling and visiting with friends and family, the housing fixation has diminished slightly,” Ali Wolf, chief economist at Zonda, a housing market research firm, told Fortune.1
So should you list your home this spring?
Although demand is usually at its peak in the spring, the best time to sell your house has less to do with the season than it does with your local market conditions. The selling season, just like the weather, is dependent on the local climate.
For areas that experience all four seasons, spring is still considered optimal because many homebuyers begin their home search during the spring months when there are more homes on the market, the school-year is coming to an end, and the weather is more favorable for a move.
However, because local markets vary, it’s helpful to work with a qualified Realtor in your area who is familiar with local market conditions and can price your home competitively. An experienced Realtor can not only help you identify the right time to list your house, but can also guide you through the process.
It should be the right time for you.
While seasonality can impact on how long it takes to sell your house and how much your home sells for, market conditions shouldn’t be your only consideration. Your timing ultimately depends on your specific circumstances. If you decide it’s time to make a move, our Real Estate Benefits Program can connect you with a local Realtor–and it provides a cash rebate!
1“The ‘Crazy’ is Leaving the Housing Market,” Fortune, August 2021: https://fortune.com/2021/08/09/us-housing-market-home-prices-seasonal-inventory-covid/
2National Association of Realtors®’ 2021 Profile of Home Buyers and Sellers, https://www.nar.realtor/newsroom/home-buyers-motivated-by-desire-to-be-closer-to-family-and-friends-sellers-collected-full-asking-price
87% of buyers use an agent or broker, and 90% of sellers hire an agent to sell their home.2