When is the Best Time to Buy or Sell a Home?
Yes, there are seasons in real estate, and they can have an impact on your home sale or purchase. Which is the best time to buy or sell? Find out here.
You may have heard that Spring is the best time to buy or sell a house. That’s not necessarily true: it is the busiest time for the listing market, which means more competition for both buyers and sellers.
The best time to buy or sell a house depends vastly on your priorities and circumstances.
Do you live in an even climate or an extreme season area? Do you want to move as soon as possible? Do you want to sell for the most money? Do you want to buy at an astounding value?
It’s all about strategy and having a great real estate agent of course.
The Best Time To Buy or Sell a Home
As you can guess, the strategies for buying and the strategy for selling are very different. Let’s break it down.
If you are making a long distance move that requires your children to change schools, Spring probably is the best time for this transition because it fits nicely with the school calendar.
However, if you want to get the best deal, scout our homes in late December, and pounce on Christmas Day. You heard (read) that right, Christmas Day.
Your selection will be slimmer during the Winter months, but so will your buyer competition.
Fewer offers rolling in means lower listing prices, and serious listers ready to sell quick. In addition, the holidays means generosity is in the air, you’re likely to get a fast and valuable purchase.
That being said, finding the right agent willing to work over the holidays and dealing with a move in Winter is not easy for everyone.
If Spring is your season to buy, hold off until as late in the season as you can.
“Spring” in real estate terms starts early in the year with President’s Day.
Many homes listed in the beginning of the year are scooped up by eager buyers before even being listed. Wait out the over-aggressive buyers to save yourself some cash and frustration.
Seeing offers several percentage points over asking price is great for sellers, but not great for buyers.
While Spring can be prime time for sellers because the buyers are plenty, you’re going to be dealing with a ton of other houses on the market and it can be hard to make yours stand out, and you might find yourself lowering your asking price to attract buyers.
Consider listing your home in Fall or Winter. This is a great time for many sellers because there are more serious buyers looking to move in fast.
Yes, there will be a smaller turnout at your open house, but it will be a quality turn out, not full of looky-loo’s.
If you want to join the crowds and sell in Spring, wait out the rush in your area. Buyers who started shopping early but either couldn’t find something right for them or got outbid over and over again are willing to pull out the big guns, so to speak.
There is no magic formula that covers every buyer’s and seller’s priority. The best thing you can do is get an experienced, trustworthy real estate agent to guide you through the process and tailor your experience to your priorities.
Check out the agents at manausa.com if you’re looking to buy or sell in Tallahassee.