What Season is the Right Time to Sell My Home

As a Realtor here in Livingston everyone asks “When is the right time to sell? Fall, summer, spring?” It is interesting that no one asks about winter though.  Let’s look at the pros and cons of each.

Spring Market

The thing about the Spring Market is that it actually starts in February in our area. Yes in Winter. The main reason is that when a house accepts a contract, there is a 60 -90 day time period until closing. This puts you closer to the end of school to make the move.  Now everyone says to me that “There are so many more buyers then…”  Yes they are correct, but let’s look at those buyers. I meet a lot of buyers in the springtime that are either just starting out, or just looking to get ideas for their own home. There are traditionally more buyers. But on the other hand there are many more sellers also. So there is more competition as well.

Summer Market

Summertime is when a lot of closings happen, but there is usually a bit of a dash to get a home also. This is the time that people that have not bought a home yet start to get concerned. Their concern is that if they have children to get into schools for September.

Fall Market

Here is where some of a slowdown does occur, or does it? Here we have people thinking, wait I want to get into a home “THIS YEAR!”  Why?  Well, 2 main reasons, tax write offs and before the holidays. You must close on your home before the end of the year so that you can get your write offs in for the following tax year. Meaning your interest on your loan and your taxes can now be put on your write offs.

Winter Market

Here is where I get people saying, “Why would I put my house on now?” I don’t want people coming through the house with wet feet, there is not enough people buying this time of year, I can get more in the springtime for it. (Spring Market = More Competition) Some of these I understand how it personally affects the Homeowner. Let’s break them down further.  

• Messing the house up (ex: wet feet, snow): There are a few ways to take care of this, the main one is people take their shoes off to view the home. You also provide booties (like hospital covers for shoes) to all that view the home.
• Not enough buyers: The main reason you are putting up your home is that you are looking to make a move. The buyers that are out in the Fall and Winter are serious buyers. They are not going to just look that time of year just for fun
• Waiting for spring: This is the one that hurts the most. No one can predict what is going to happen in 3 months in any market. Yes, it could go up! But it also could go down. Mortgage Rates affect it the most. If they rise, that means less purchasing power for the buyers. If they go down, more purchasing power. Do you want to take the chance of losing 10-15 thousand dollars by waiting?

So they old question is “When is the best time to put your home on the market?”

                Answer: When you are ready to sell

We are in one of the most challenging Real Estate Markets we have ever seen. And homes are selling here in Livingston. You should be doing all the things necessary to help with the sale, not when you think is the best time.