Education and news for smart DIY landlords!
Knowing the best time of the year for selling your home is the first step to increasing your chances of securing a good deal. But the truth is, any time is the best time to sell your home. There are just some pros and cons for each season and it all comes down to how you want your home selling experience to be.
Let’s discuss these advantages and disadvantages so you can make a solid decision on when to sell your home this 2022.
The months of December to February cover everything in snow. This means there are fewer buyers looking for houses to buy. The good thing is, there is less competition for customer attention. Winter is also the season where there are a lot of relocating buyers and people who want to take advantage of year-end tax benefits from house purchases.
There are a few cons to selling your home during winter. You might come across thrift buyers haggling for a huge discount as they’ll think you’re desperate for a sale. And if your property is located in warmer regions, there is still increased competition.
It’s common knowledge that late spring is considered to be the best season for selling your home. As the surroundings get warmer, transactions and listings start to appear and competition gets fiercer. However, the ratio of buyer to seller is expected to be balanced in all real estate markets.
One noticeable caveat of springtime home selling is that there is an increased number of canceled deals. Buyers are more prone to finding another property to purchase in the middle of negotiations due to the stable housing supply.
The real estate markets of summer are the same as spring but busier. With dependable weather, school break, and holidays, you can expect that prospecting buyers will fill your schedule for giving home tours. Buyers are also eager this season to close deals this season to allow their children to settle in before classes start.
Cons for summer home selling? You’re not likely to meet walk-in buyers because the weather is too hot. The best thing you can do is list your home online or get a real estate agent as your representative.
Fall isn’t a popular season for home selling as experts say. But for some, it’s the best. This is the season where the market is saturated with serious buyers who weren’t able to buy a property in spring and summer.
There is also less competition and you have more access to repair contractors that have been busy for the previous months. The problem with having less competition during fall is that buyers can be more demanding.
So which season do you prefer to sell your home? Is it during fall or winter where there are more serious buyers with less competition? Or is it during spring or summer where transactions happen faster?
Not ready to go yet? Check out these articles!