The Stern Team is all about making your home-selling journey a breeze – and yes, an enjoyable one too! Now, let’s tackle that big question: when’s the perfect time to sell your house? It’s like the ultimate guessing game.
While everyone seems to have their favorite seasons (hello, spring and summer), we get it – your timing might be on a totally different wavelength. That’s where we come in.
In this guide, our seasoned real estate pros spill the beans on the insider secrets of perfect timing for selling your house. We’ll dish out the pros and cons for each season, keeping it real and acknowledging that life’s timeline is anything but linear.
So, buckle up and join us on this journey. We’re not just talking transactions; we’re talking about turning your home-selling gig into a smooth, satisfying, and yes, even enjoyable experience. Let’s dive in!
What’s the best time of year to sell your house?
According to historical sales data , Spring is typically considered the best time of year to sell a house in the U.S., but this broad answer comes with a basket of caveats that help or harm your home sale.
While it may be nice to try and time the market — to list your home on the perfect month and day for peak success — the best time to sell ultimately depends on your needs as the seller. The better question may be “What’s the best information I need to sell my house in the spring, summer, fall, or winter?” Every season has its benefits and drawbacks for home sellers. (We’ll review these below.)
To help you better plan your home sale, we put together this report to share our expertise of the past 20+ years of working in the Utah and Salt Lake City Real Estate market to help aid you in making the best decision for you and your future.
Source: (Joel Holland / Unsplash)
Spring
Traditionally, as the winter chill thaws and spring bulbs appear, once-dormant homebuyers emerge from their wintery refuge. According to the National Association of Realtors (NAR), home sales tend to pick up around the same time the mercury starts rising. During pre-pandemic years, sales would increase as much as 34% between February and March. Prices also typically increase as demand quickens in the spring, adding a boost to sellers’ bottom lines. In more recent NAR research, the span of April 10-16 has shown to be good a good time for higher proceeds, with selling prices increasing 3.2% and higher, depending on the region.
While the current shifting market is more unpredictable, some we believe the spring 2024 housing market will return to more traditional seasonality, in which listed inventory will increase in March, April, and May, and carry through the summer season.
Along with warming temps that prod homebuyers from their homes and into open houses, because increasing daylight hours illuminate home interiors, transforming dark winter rooms into a coveted light and bright aesthetic. Mild spring temperatures and ample sunlight encourage vibrant gardens and plush emerald lawns that entice buyers with curb appeal and other home features.
With mild temperatures and an increase in buyer foot traffic, spring may seem like an ideal time to sell your home. However, your competition has the same idea, making it important to present your home in tip-top shape. And since spring weather signals the start of home improvement season, high demand for contractors and designers could make pre-sale repairs tough to schedule.
Benefits of selling in the spring:
- Homebuyer pool increases as buyers emerge from “hibernation”
- The number of home sales pick up, along with the average time to sell
- Blooming gardens and foliage help maximize curb appeal
- Increasing daylight hours allow for more home tours
- Warmer weather encourages buyers to get outside and tour homes
Drawbacks to selling in the spring:
- Competition with other listings begins to tighten as available homes for sale increase and buyers have more options
- Start of peak moving season, when it’s tougher to book a moving company or truck rental
- High demand for contractors, repair services, and other home improvement companies can make it difficult to schedule necessary pre-sale repairs
Source: (Zac Gudakov / Unsplash)
Summer
Many consider the summer months peak real estate season, and for good reason. The buyer uptick sellers see in spring shifts into overdrive when the long days of summer arrive. Here again, traditionally, the months of June, July, and August have the most action, as those months historically account for up to 40% of annual real estate sales volume. Home buying fervor normally peaks in June, says the NAR.
Staying true to the laws of supply and demand, any time more buyers step up — such as in the summer months — prices will go up and homes stay on the market for less time. Homes that sell in July and August do so faster than other months out of the year, as much as 10 days faster on the average than the rest of the year, respectively, per Utah Realtors sales data. And summer prices spike slightly, with the median sales price of all homes sold going from $465,000 in February 2023 to $494,495 in August 2023. Reason why prices increase during the summer months is because there’s more buyers actively shopping, therefor more bidding wars and competition for homes increase. Summertime home sellers tend to experience higher demand than during other seasons, but competition also increases as other homeowners hope to land a successful sale during this peak real estate wave.
Benefits of selling in the summer:
- Buyer demand peaks in summer compared to other seasons
- Homes tend to sell for more money in the summer months
- Homes tend to sell faster in summer
- Peak daylight time keeps your home light and bright for longer home tour hours
- Families may prefer to move during the summer before kids go back to school, giving this demographic a deadline to purchase
- More listings on the market, which means more choices if you’re buying another home
Drawbacks to selling in the summer:
- Seller competition increases as other homeowners list their homes take advantage of high summer buyer traffic
- Warm weather can become unbearably hot, which could keep some buyers from venturing to open houses
- Dry weather may require frequent lawn and garden watering to maximize curb appeal
Source: (Joel Holland / Unsplash)
Fall
When the weather turns from balmy to brisk, sandals make way for sweaters and pumpkin spiced lattes. For The Stern Team, fall is our favorite season to sell a home. The season provides softer lighting, mild temperatures, and pretty weather foliage as a backdrop to your home. According to sales data, while summer typically reaps the best proceeds, home sales that close in October and November can still garner slightly higher prices than other months in the year. The fall season also comes in second behind summer months if your goal is to sell quickly.
Despite this, buyer traffic tends to dip in the fall months, suggesting that serious buyers stick around after the summer rush. According to data obtained from ShowingTime, which tracks the average number of residential home showings on an active property listing, showing activity dropped by 44.8% nationwide between September 2022 and November 2022, compared to the spring selling months leading into summer.
Benefits of selling in the fall:
- Homes sell at prices that are higher than the average
- Less competition with other sellers as home inventory begins to fall from peak summer months
- Homes still sell relatively quickly, at only a slightly slower rate than the summer season
- Pretty foliage acts as an appealing backdrop
- Soft, natural fall lighting enhances your home
- More convenient to sell and move before the busyness of holiday travel and gatherings kicks in
Drawbacks to selling in the fall:
- Buyer demand begins to fade after the spring and summer upward trend
- More outdoor maintenance tasks to keep curb appeal inviting, from deadheading roses to raking leaves
Source: (Tracy Adams / Unsplash)
Winter
Between kids on winter break and setting the table for a holiday feast, sellers and buyers alike may not want the hassle of moving when there’s already a flurry of year-end activity to contend with.
When looking at sales data, winter sales figures trend lower than other times of the year. According to historical NAR data, the months of November through February tend to be the slowest months of sales activity, with January as the slowest. And according to our data, homes that sell in the months of December, January, and February spend more time on the market, on average. The worst month to sell if you’re in a rush? January, when homes sit on the market for 12.49 days longer than average.
And while homeowners who list their home during winter months can entice buyers with inviting holiday decorations, sellers should maintain their home for buyer tours and keep their home as neutral as possible with decorations to not turn any potential buyer away for trivial reasons. For example, keep walkways and driveways clear of snow and ice.
Benefits of selling in the winter:
- Homebuyers tend to be more committed and motivated
- Sellers have less competition, as fewer homeowners tend to list their home in the winter months
- Inviting holiday decorations can impress buyers by giving your home a warm and cozy feel
Drawbacks to selling in the winter:
- Prices tend to dip in the winter as buyers leverage seasonal buyer slowdown
- Your home may take longer to sell, on average
- The holiday season and events can distract buyers and make home tours inconvenient for sellers
- Inclement weather in certain regions could keep potential homebuyers from venturing out to tour your home
- Keeping your home at showing standard during winter storms (such as shoveling snow on walkways and managing mud) may be tough to maintain
- Curb appeal may suffer when surrounding trees are bare and snow melts into mud puddles
So what’s the best season to sell a home?
For best price: While market trends report suggests that you can expect the best price for your home if you list in January or February for a spring closing. Allowing for a 90-day timeline for marketing and closing, you’ll complete your home sale in April or May.
For speed: If selling quickly matters most, your best bet is to list your home in April or May to complete the sale by July or August. According to our data, you could sell your home five days faster than any other month.
What fits the need: Sellers can achieve a successful sale regardless of the time of year. But your motivation for selling, along with the timing that works for your situation, ultimately dictate the best time of year to list and sell your home.
There are pros and cons to selling in any season, but what’s the best time to sell a house? The quick answer, “Whenever you need to sell.” If you’d like to know more about what your home can receive on the open market today or future forecasting, schedule a time to speak with Utah’s Top Real Estate Team and we’d be happy to do a no-obligation consultation call with you!
