There’s a bit of a controversy brewing among real estate experts. The topic is the best time of year to sell a home. On one hand, real estate agents across the country agree: Spring is the best time to sell your home.
However, do the facts actually support this view? The folks at real estate web platform HomeLight wanted to find out, so they crunched the numbers on actual home sales in different markets to see when the best time to sell a home actually was.
In general, spring did come out on top in many situations. However, there were also many exceptions.
For example, in Greenville, SC, the best month was July, beating out the average sales price by 150%. In Breckenridge, CO, February was the winner, with a 106% increase over the average. In Tomball, TX, homes sold in October for 133% more than the average for the year.
What does this all mean for you? If you want a broad recommendation for when to sell your home, then simply listing your home now at the very start of spring is a recommendation that can’t be beat.
There are plenty of other details that go into the optimal decision. Weather is a big one. Recent real estate trends in the area would be another. The specifics of your own home and the kinds of home buyers it is likely to attract is a third and crucial aspect. There are fewer home buyers in the fall and winter, but they tend to be more serious and eager to find a home before the holidays. In the summertime, there might be added pressure to buy a home before the school season starts.
In short, it’s not as simple as saying spring is the best time to sell your home. If you have any questions for me, give me a call or send me an email and we can discuss all the unique attributes your home, put them in the context of recent trends in the Peoria real estate market, and come up with a winning strategy of when you should list to get the best price. I look forward to hearing from you soon!