When it comes to selling your home, which season is better? Autumn or Spring? There are many opinions or theories out there, but evidence is pointing towards Spring.
According to a recent study by Zillow, on average, homes put on the market between May 1 to May 15 sold 18 days faster than those homes put on market after. In addition, homes put on the market at that time sold for a little more money.
Some other important factors to know about selling your home in the Spring:
- Less inventory. Because some people feel they shouldn’t list their property under the possible threat of snow and ice, many wait to put their homes on the market. However, if you’re home is the only one on the market in your area (or one of the few) there is a better chance that you’ll have more interest on your home.
- Job relocations. People tend to get relocated around the New Year (first quarter) which means there is a higher demand for homes for sale. If you’re home is on the market during this time, you not only have a greater chance of selling your home faster and at your asking price.
- Higher listing price. Stats show homes sell at a slightly higher price in the winter and early spring months. This is for three reasons, 1) agents tend to be more adamant about pricing the home at the right price, 2) you’re more likely to receive an offer that is too good to pass up, and 3) interest rates tend to go up in the spring so buyers tend to be more willing to pay the higher price.
As you move forward to preparing to sell your home, your real estate agent can help you determine the best price for you home, answer all your questions, and support you as you move through the process of selling your home.
Ready to sell? Give us a call today!