If you’re thinking of selling your home, think spring. That’s because the season of blossoming flowers and gentle breezes has traditionally held the designation as the best time of year to sell a home. What makes spring so well-suited for house-hunting? Let’s take a deeper look at the sell-in-the-spring rule so you can make an informed decision about when to put your home on the market.
The beautiful, mild weather of spring showcases your property in all its glory. Pleasant weather also makes it easier for you to tend to repairs and upgrades on your property. Aside from delightful weather, springtime brings the end of the school year. House-hunting in the spring often makes the most sense for families that include school-age children. This way, they can be settled into their new homes and schools before the new school year. Finally, spring means more daytime hours to show your home to potential buyers.
Do homes listed in the spring really sell quicker and at higher prices?
An ATTOM Data Solutions analysis of 14.7 million home sales showed that houses sold in May closed at 5.9% above their estimated market value when compared to other months. Another study by Realtor.com proved that homes listed during the spring are 1% less likely to sell with a price cut than homes listed during the rest of the year. Also, a Zillow study showed that homes sold during the first two weeks of May tend to be on the market less time than homes sold any other time of year.
Does this rule hold true for everyone?
“Springtime to market” might be a good rule of thumb for most home sellers to follow, but it does not apply in every case. Here are some factors to consider when deciding when to list your home: