When it comes to buying and selling a home, a weight of uncertainty can loom over buyers and sellers. They may often wonder whether it’s the right time to buy or sell. Questions can arise, leaving buyers and sellers alike in a state of anxiety.
- What if my home doesn’t sell?
- What if the buyer doesn’t accept my offer?
- What if the seller doesn’t accept my offer?
- How long will my house sit on the market?
Whether you’re buying a home or selling your home, there is no calculated formula that will tell you the “best” or “worst” time to do either. The only definitive answer you’ll find rests within the phrase, “It depends.” Time of year and location are the biggest factors in when you should put your home on the market or start your search for a new place to call home. Other factors can rely solely on your unique circumstances. So, when are the optimal times for buying or selling a home?
When Is the Best Time to Sell My Home?
Real Estate patterns of buying and selling reveal the optimal time to sell a house is anytime between mid-March and mid-April. Nationwide selling patterns and statistics recorded over a decade show that homes put on the market during the springtime typically sell much faster and at higher home values than other seasons during the year.
Conventional wisdom in the real estate business has steadily maintained that spring and summer are the optimal times to sell your home. The sunny, dry weather brings more people out of their homes to shop the real estate market. Patterns suggest that most families want to move when their children are out of school for summer break. An increase in shoppers during this time means more homes are put on the market during this time, which also means more competition for your home in the real estate market. Since there tend to be more people shopping for available homes, selling during the summer would seem to be the optimal time to sell your home, but in Texas, you should remain cautious of the dead, dry heat months of July and August, where families may opt to stay indoors and the new school year lingers right around the corner.
When is the Worst Time to Sell My Home?
When selling a home, there is also no definition for the “worst” time to sell a home because a buyer can always find an available home on the market anytime during the year. However, common knowledge suggests that most shoppers are less eager to buy a new home during the Thanksgiving, Christmas and New Year holidays. With decorations embellishing the home and out-of-town guests crowding the bedrooms and hallways, it is likely that many of those shopping for homes put their search on pause during the time surrounding the end-of-year festivities. However, putting your home on the market during this time can mean less competition and those who visit an open-house or schedule a walk-through are likely to be more serious buyers. The holidays won’t stop some sellers, though. When a homeowner is ready to sell, they are ready to sell.
When Is the Best Time to Buy a Home?
Logic would suggest that the best time to buy a house is the opposite of the best time to sell. Of course, that’s predicated on the idea your ultimate goal in buying a house is to get the best house you can at the lowest price. If you buy in the spring and summer, you might have to pay more for a house because sellers are expecting a premium price. You’ll be in greater competition, too, as more buyers are looking at that time. On the flipside, the increase in shoppers could mean an increase in the homes available and for a buyer. This could mean there are more options for the buyer to choose from, whereas, if you wait until the fall or winter, prices may come down, but there may be fewer options.
So, when is the best time to buy or sell? Again, the best answer for you may come down to ” it depends.” Are you living in an apartment you can leave on 30 days’ notice? Do you need to sell one house to get another house? Have you just been transferred to Austin and need a house next week or next month?
The best time for buying or selling a home depends on your individual circumstances. We put our customers’ first and want to learn all about your circumstances when it comes to buying or selling your home. Whether you are looking to buy or sell a home, we create personalized real estate marketing strategies to meet your needs and expectations. Contact Davidson Real Estate Group today!