One of the most often asked questions is “When is the best time to put my home on the market?” There are numerous variables that contribute to your decision and some things that are universal. Here are a few things to consider:
*If your home is located in a warm climate (ie: Florida, Arizona) the cold winter months provide an increase of potential buyers, often known as snowbirds, that are, in addition to taking a vacation from the weather, searching for a winter home. So, from the moment the holiday season kicks in November through the onset of spring, you have an additional surplus of potential buyers so being visibly out on the market during that time gives you an advantage over waiting for the typical spring market. By the same token, the potential buyers may decrease in those markets as the temperature climbs into the “I’ll never go there in the summer” ranges.
*If you have a single family home or in a ‘child abundant” neighborhood, your buyers most likely will be shopping starting around March and into April with the goal of getting under contract and closed by the time the kids get out of school so they can settle in over the summer and get the kids registered in their new schools.
*Another advantage of putting your home on in Spring, especially if you are located in an area with defined seasons, is that your landscaping and curb appeal are often at their peak performance in the spring. Autumn also creates beautiful landscapes if you live in an area that reflects a true change of seasons.
*If you wait until summer to put your home on the market, you will lose potential buyers to scheduled summer vacations which brings you back to the long standing belief that being on the market by April increases your odds of getting sold. This way the closing can be scheduled around their vacation and be a positive experience for you and your buyer.
*Serious buyers (moving due to job relocation, family and financial issues, health situations, etc) shop year round so if you need to sell for your own specific reasons, putting it on the market to meet your needs and not the specific market time may be best for you.
*Interest rates are still reflecting very consumer friendly numbers, so taking into consideration that buyers may be shopping sooner than later is something for you to consider especially if you are also going to become a buyer.