The housing market varies widely throughout the year, with some months being good for home sellers and others being a better time to buy. The time of year you put your home on the market can significantly impact whether or not it gets sold, which is why it’s vital to understand how seasons impact real estate.
In this article, we’ll answer everything you need to know about the timing of your real estate transactions: when you can put your home on the market, why some seasons are better than others, and what to do if you need to sell your home during a slow time of the year.
When is the Worst Time to Sell Your Home?
If you have a choice in when to sell your home, avoid selling in December. The winter months as a whole are slower than the summer months, so you may have difficulty finding the right buyer during this time.
It’s more advantageous to sell a home during the summer months. To get more specific, ATTOM Data shows that the median sales price for homes selling in June is 5.9% better than it is for homes that are sold in December. In fact, the number of homes sold in May, June, July, and August accounts for 40% of all homes sold in a year.
Why Do More Home Sales Happen Some Months Than Others?
Some people are surprised that there’s a difference between selling a home during the winter, fall, spring and summer seasons.
Why is a real estate agent going to have a harder time during some months than others, especially when dealing with the same existing homes?
One important thing to keep in mind is the school year. The summer months give sellers premium prices because there are so many students looking for houses for the first time in their life. This is an influx that doesn’t happen at any other time.
The inverse is true of the winter months: people are celebrating the holidays, and they’re usually happy with where they currently are. Most people aren’t going to think about moving during Christmas.
Want to Sell Your Home Fast?
Many people can’t choose when to leave their homes. Selling may be the only option if you’re in danger of foreclosure.
The winter months may not be the best for selling your home, but that doesn’t make selling a house during that time impossible. Instead, you need to find someone who will reliably offer to buy your house at any time throughout the year.
At Freedom Home Buyers, we offer fast cash offers no matter when you come to us. We understand that you may not be able to wait until a specific month to sell your property. Whether your financial situation has changed or you’re simply ready to get out, we’re here for you.