Are you readying to put your house on the market and look for a buyer? Selling your home can be a stressful time, with many people worrying about getting the very best price.
When selling a home on the open market, the time of year that you list can be crucial, as there are marked differences in selling your house at different times of the year.
This is not only in terms of how long the house remains listed but also in terms of how much it will likely sell for. In this blog post, we will look at the best time of year to sell a house and some of the reasons behind this.
What Is the Best Time of Year to Sell a House?
The summer months are typically the best time of year to sell your house, specifically between May and July, with June offering sellers the highest premium. For example, a house with a valuation of $183,124 is likely to sell for around $200,000 in the month of June. This represents a seller premium of 9.2%.
In May and July, the average seller premium is 7.4% and 7.3% respectfully. Following these months are April, March, August, February, and September. The worst times of the year to sell a house are November, January, October, and December.
The four months between May and August make up around 40% of the annual home sales volume in the United States.
Why Is the Summer the Best Time to Sell a House?
In the late spring and summer months, the weather is more pleasant and families are typically looking to buy their next house before the start of the school year in September. There are also more daylight hours in the summer and people generally take more time off from work for activities such as house hunting.
Why Is Winter the Worst Time to Sell a House?
Seller premiums are markedly lower in the fall and winter months and the market, in general, is far quieter. Premiums start to drop in September and bottom out in December. It is unlikely that families with school-age children will consider a move during term-time and are more likely to wait for the holidays in the summer.
Also, the colder weather and short days mean that fewer people are interested in house hunting during the wintertime.
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Sell Your House Strategically for the Highest Premium
As the figures highlight, the best time of year to sell a house is in the summer months, with June representing the best value for sellers. Of course, selling your home as-is is always a smart option, particularly if you are looking to start a new chapter in your life.
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