What’s the BEST time of year to sell a home?

Should we wait until the Spring to list our house because there are less people looking to purchase during the Winter?

 

 

It is traditional knowledge is Spring is the best time to list your home, but you have to understand what influences traditional advice.   Spring is considered the best time of year to list because typically that is when inventory is at its lowest before starting to climb during the summer months. Traditionally, a homeowner should list their home when inventory is the lowest point to get the best price. This is because there is less competition with the same amount of buyers and price will always be a function of supply and demand.

 

 

 

Something very strange. Typically, we see things slow down quite a bit during the Winter until we reach Spring. However, for the first time in 10 years, we have seen demand hold steady during the Fall months, which is continuing into Winter.  If inventory holds steady until  March or April, the high amount of inventory will make Spring NOT the best time to list compared to right now.

 

The other trend we have been tracking is that traditionally buyers don’t look for homes in the Winter. However, COVID changed this trend. During the Fall and Winter months, we have seen an increase in traffic and even more so for video tour requests. Studies show that 60% of buyers today prefer video tours versus physical showings.

 

 

 

 

Our verdict is you are much further ahead to list your home during the holidays and beginning of the New Year during the Winter Months in order to get the best price. As an added condition, we recommend that you get to choose your closing date. For example, you might list in December, but you don’t have to move until March or April. Additionally, selling this Winter gives you the benefits of no competition and the upside of closing in the Spring. Those who choose to wait and sell in the Spring will face much more competition and not close until late Summer or Fall.