While preparing to sell your home, there are many things to consider, such as how to stage it, where to find buyers, and at what point you should put your house on the market. When deciding the best time to sell your home, you must consider your situation, local market conditions, and the property's characteristics. You should also consult a local agent to help you with making an informed decision.
A look at selling in each season
Although each real estate market varies depending on the city and state, trends appear across all markets. Due to increased demand and activity, late spring and early summer are considered the best time to sell. According to ATTOM Data, selling during this time led to seller premiums of ten percent, and sometimes even more, above market value. Here is a look at what the real estate market is typically like for sellers each season.
Selling a house in the spring
The spring market in real estate, which usually spans from March to May, is known as one of the busiest seasons. This period sees a surge in activity from buyers and sellers, primarily driven by pleasant weather, extended daylight hours, and families aiming to settle into new homes before the upcoming school year. As the spring unfolds, homes tend to sell faster and occasionally command higher prices due to heightened demand. However, amplified buyer interest also leads to intensified competition among sellers.
Selling a house in the summer
June to August is considered the summer market in real estate. While still busy, it exhibits a slightly slower pace than the spring months. A couple of reasons include families embarking on vacations and the scorching heat, which often dampens the enthusiasm of potential buyers in house-hunting. However, the summer market still presents an opportunity for reduced competition, so listing your home during this time can be advantageous, particularly if it boasts distinctive and noteworthy features setting it apart from the crowd.
Selling a house in the fall
From September to November, the fall season marks a shift in the real estate landscape. Children returning to school and the weather cooling down cause a noticeable deceleration in the market. While the pace may slow down, fall presents a unique opportunity for sellers to connect with buyers who might have missed out on finding a home during the busy spring and summer months. However, the decreased buyer demand may require sellers to be more flexible during negotiations. Sellers who are adaptable and open to compromise can make the most of the season and attract motivated buyers looking to seize available inventory.
Selling a house in the winter
On average, the real estate market is the slowest in the winter, from December to February. With cold weather and the holiday season, the lack of motivation of buyers to search for their future homes leads to fewer sellers placing their houses on the market. This scenario presents a unique advantage for buyers and sellers willing to navigate these chilly months. Reduced competition in the market can be an excellent opportunity for motivated buyers to find their dream homes or for sellers to stand out due to less competition. Buyers and sellers can leverage the quieter period by embracing the season and its challenges.
How to know if it is the right time for you
The decision to sell a home can vary depending on one’s lifestyle and financial circumstances. Numerous factors can contribute to this choice, with the following being some of the more frequently encountered reasons behind selling a house.
Your lifestyle demands a move
Relocation due to significant life changes, such as a new job in a different city or transitioning into retirement, is one of the primary motivations behind moving. Another reason is when grandparents, seeking closer connections with their grandchildren, choose to relocate as their adult children start families of their own.
Individuals also may desire to upgrade their living arrangements to accommodate a growing family or improve their financial circumstances. In contrast, those who have retired or have seen their children move out may downsize their homes, aiming to reduce living expenses and simplify their lifestyle.
Individuals also may desire to upgrade their living arrangements to accommodate a growing family or improve their financial circumstances. In contrast, those who have retired or have seen their children move out may downsize their homes, aiming to reduce living expenses and simplify their lifestyle.
Home improvements are complete
If you recently completed extensive renovations on a house that is not your primary residence, now could be an opportune moment to sell. Capitalizing on the market's peak can maximize your return on investment, making it an ideal time. Taking advantage of the completed renovations and the favorable market conditions makes the most of your efforts and potentially achieves substantial financial gain.
You are financially ready
Cities in the mid-peninsula, such as Burlingame, are growing and causing home values to increase. For example, you can capitalize on the equity you built and use the proceeds for other investments by taking advantage of this growth in the Burlingame real estate market. If you purchased an investment property, right now is a good time in the market to sell your house to cash out your investment.
The bottom line
Selling your home is a significant undertaking, and while general trends exist in the real estate market, the optimal time to sell can vary depending on your circumstances. Given the ever-changing nature of the real estate market, partnering with a local realtor who understands the market in the mid-peninsula can give you a competitive advantage. A knowledgeable local expert will offer personalized guidance on the best timing to sell your property, considering the current market conditions and providing invaluable insights tailored to your situation.
Selling your Northern California home
Anyone wanting to work with a Realtor® embodying honesty, professionalism, and energetic personal engagement must connect with Mary Ann Teixeira. Her reputation has established her as one of the top 100 producing agents in the Bay Area and is ranked in the top 2% of agents worldwide with Coldwell Banker.
Contact Mary Ann Teixeira today to experience the exceptional service she provides to her clients.
Contact Mary Ann Teixeira today to experience the exceptional service she provides to her clients.
