The real estate market has been especially hot for sellers during the last few years. Even in a more typical market, though, timing is crucial, and this is especially true when selling a home. According to an ATTOM Data Solutions analysis from 2021, sellers may make thousands of dollars more if they sell during the peak months of May, June, and July rather than the two slowest months of the year, October and December.
Seasonality is Important
While seasonality exists in all locations, it varies in intensity depending on where you are in the nation.
According to the National Association of Realtors, there is less of a difference between peak and slow seasons in the South and West, where temperatures are often more mild. In the Midwest and Northeast, however, the disparity between summer and winter is greater.
Sellers may use these seasonal tendencies to predict what to expect throughout the year.
In general, the summer is the greatest season to sell a property, conversely that's generally the worst time to buy because of high prices and higher demand.”
According to Donovan Reynolds, a real estate agent with Redfin in Atlanta
Best and Worst Time of the Year to sell a house
Spring and Summer
Sellers typically market their properties in the spring and summer because the weather is pleasant, especially in colder locations. Furthermore, according to Realtor Liede DeValdivielso families prefer to buy their next house before school starts. Daylight savings time may also contribute to increased purchasing activity throughout the summer months. According to Redfin, homes listed on Tuesday, Wednesday, or Thursday will net you $1,700 more than a home listed on the weekend. Data from ATTOM Data Solutions from 2011 to 2020 indicate that sellers received the biggest premium in May, with median sales prices topping out at $197,400 compared to a $174,000 median value, a 13.4 percent premium. Sales in March, April, June, July, and August pay larger premiums than sales in the fall and winter.
Fall and Winter
Seller premiums generally begin to diminish in September, when the average premium drops to 7.5 percent, little less than half of its peak in May. Many purchasers with school-aged children would have already secured a property by then, so the dramatic drop is unsurprising. When you combine the start of a new school year with the commencement of the hectic holiday season, homebuying takes a back seat in the second half of the year. The weather plays a role in the winter months, just as it does in the summer. People tend to stay close to home when the days grow shorter and the temperatures decrease. For sellers, this means less foot traffic.
According to ATTOM, the worst month to sell a property is December, which is tied with October with a 5.8% seller premium. In December, when individuals are traveling and occupied with holiday celebrations, homebuying activity often grinds to a halt.
House Selling Tips for Different Seasons
Warmer weather attracts more homebuyers, making this an ideal time to sell. Buyers who file their taxes early may receive more dollars from tax returns, and they frequently wish to move into their new house during their children's summer vacation.
In May, June, and July, you may charge a premium for a home because of the long summer days, school breaks, and mild weather. In August, when many individuals take their summer holidays, expect a slight slowdown. If you reside in a hotter climate, such as Arizona or Nevada, you could find it simpler to sell in the early spring or even the fall and winter.
Homebuyers are less likely to pay a premium after school starts. If you reside in the Northeast or anywhere where the leaves change color, you may be able to attract buyers who don't have children or who prefer to relocate during the cooler fall months rather than the hot summer months.
Winter is often the slowest season for house sales, with many purchasers preoccupied with the holidays or unable to travel due to inclement weather. During this busy season, you may need to cut your pricing to entice consumers. If you reside in a warm-weather state like Arizona, however, winter may be the perfect time to sell since snowbirds may opt to buy a second home to escape the severe Northeast or Midwest winters.
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