One of the most common questions we receive from our clients is “when is the best time to sell my home?” The short answer is: whenever you are truly ready to move.
Each season has its benefits (and challenges), therefore there isn’t ONE specific time that is best. However, it’s important to be aware of what you are up against. So, what are the benefits and challenges for selling your home throughout the year?
The grass is turning green, flowers are blooming, and the weather is beautiful…it’s typically not too hot, not too cold — all you need is a light jacket. Blooming flowers and green grass instantly enhance a home’s curb appeal, and potential buyers are more willing to tour homes due to the beautiful weather. However, sellers typically wait for warmer weather to list their homes, resulting in increased competition come spring. In fact, May was the month with the highest home inventory in 2020 nationwide.
- Beautiful Weather: Potential buyers who were cooped up during the cold winter are eager to get out into the sunshine and tour homes.
- High Demand: Demand for homes is high, so sellers should price their homes competitively to increase the likelihood of getting top dollar for their homes.
- Quick Sell: Homes tend to sell quicker and get multiple offers
- Increased Competition: Increased demand also means there is more competition amongst sellers, so pricing the home appropriately is a must.
Summer brings in longer days and higher temperatures, and sees similar popularity as the Spring real estate market. Buyers who missed out on homes in the Spring might be more motivated to close on a home before cold weather starts creeping in. However, hot temperatures and family vacations can deter buyers from looking for homes.
- Slight Dip in Homes: While summer is still a popular season to sell a home, there may be a slight dip in newly listed homes, meaning less competition for you.
- Long Days: Longer days lead to more opportunities for buyers to see your home.
- Summer Curb Appeal: The beautiful weather and flowering plants still provide attractive curb appeal to your home.
- Motivated Buyers: Motivated buyers want to close on a home before they need to worry about school starting or winter holidays.
- Hard to Maintain: For sellers with children, it could be harder to keep the home “show ready” if children are home for summer break.
- Hot Temperatures: July is typically Nebraska’s hottest month, often exhibiting both high temperatures and humidity. Not only will you see a hit to your utility bill, but some buyers may be looking to avoid being out in the heat.
- Vacation Plans: Summer is a popular season for family vacations, which means you are losing out on potential buyers.
As the weather starts to cool, real estate listings tend to lessen. Trees changing from green to red, orange, and yellow hues can bring a warm and welcoming atmosphere, and early fall weather can still attract potential buyers. But as the season progresses, buyers begin to hunker down and wait for warmer weather.
- Motivated Buyers: Motivated buyers still want to close on a home before the holiday season.
- Less Competition: Traditionally, fewer sellers list homes in the fall, resulting in less competition for you.
- Attractive Atmosphere: Fall decor can bring a warm and welcoming atmosphere to your home
- Fewer Buyers: Fall is the beginning of off-peak season for real estate, resulting in fewer buyers than what is seen in Spring and Summer.
- Weather Woes: Cooling temperatures might be a deterrent for potential buyers.
- Curb Appeal: Gray skies and leaf-ridden yards might diminish curb appeal.
Cold weather and the holiday season put a damper on the real estate market. Many people travel and focus on spending time with family during major holidays. Not only is it tough for buyers to view homes during this time but it’s hard on sellers because they may be hosting events at their home.
However, there are several benefits to listing your home when the temperatures drop. Buyers willing to brave frigid temperatures and snow are more than likely serious about purchasing a home.
- Right Timing: You are more than likely going to attract serious buyers.
- Less Competition: Fewer sellers list their homes during the winter months, resulting in less competition for you.
- Holiday Feeling: Brightly lit holiday lights and a festive noble fir wreath can provide a welcoming curb appeal. The smell of warm sugar cookies, a warm fire and tasteful decor can highlight your home as a potential hideaway from the cold weather.
- Tax Benefits: Many buyers are looking to purchase a home before the end of the year for tax purposes.
- Fewer Buyers: Buyers might not be looking for homes near the holidays, resulting in fewer offers and less money for you.
- Curb Appeal: Gray skies and snowy yards make it hard to show off a home’s exterior. Inspections during this time can also be problematic when it comes to inspecting areas such as the roof.
- Cold Weather: Buyers might want to avoid frigid temperatures and just wait for warmer weather before looking for a home.
Spring and Summer are typically the most popular time to sell a home. However, each season has its benefits and challenges. Hiring an experienced Realtor can help you identify the best time to sell your home as well as guide you through the selling process.
Since 2000, the Blythe Real Estate Team has helped families and individuals buy, build and sell residential homes in the Omaha area. From new construction and existing homes to commercial real estate, we have the expertise to assist our clients with their real estate needs. Contact us today to get started.