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When Is the Best Time to Sell A House?

Friday, June 28, 2024   /   by Teresa Pileggi

When Is the Best Time to Sell A House?

When Is the Best Time to Sell A House?


 


As a homeowner, you have probably created memories with your home, and letting it go requires


Emotional detachment. Now that it is time to sell, you may want to list it at a higher price to maximize its return on investment, especially after upgrading it. In most cases, you will list your


home based on its size, market value of similar properties, location, and unique features. However, you will likely overlook one significant factor that can make or break your sale: TIME.


When is the best time to list your home? While many factors come into play regarding selling your here are different times to list your house and when to make a higher ROI.


Best Season to List Your Home


Different regions experience varied seasonality; two regions can show climatic disparities in the


Same season. For instance, the South and West regions have fewer differences in peak and low


seasons. In contrast, the Midwest and Northeast regions have more disparities in summer and winter seasons. Knowing these seasonal differences can significantly influence your home sale. Thus, here is the best and worst season to sell your house:


 


· Best Seasons: Spring and Summer


Spring and summer are characterized by good weather and longer days. Most people, especially those in colder climates, prefer hunting for homes in spring and summer because they have enough time to view properties and negotiate deals. Others also love buying homes and settling in before schools start since they can have a good time moving and finalizing the transaction.


Listing your house in the spring can attract more offers since many people are looking for homes for sale. Also, with many competitive offers, you can expect to list your house at a higher price and win high-budget buyers. However, as the temperatures become too hot during the summer, you can expect a reduction in home views, translating to fewer offers. It is also vital to note that most people go on vacations in the summer; hence, you can expect a slowdown in sales.


 


· Worst Seasons: Fall and Winter


During the Fall, many families with school-going kids have likely found their dream home and can now focus on other businesses. Also, many home seekers are afraid to travel long distances to look for houses due to bad weather. Therefore, a decline in home sales is not a surprise since those buying are probably doing so because of job transfer, retirement, or family issues.


Similarly, winter is considered a holiday season, with many people preparing for holidays and vacations. Listing your house during the winter can attract fewer views and offers since most homebuyers have probably channeled their money to holiday preparations. However, live in a year-round warm climate. You can take advantage of homebuyers looking for homes in warm regions as they anticipate a potential increase in home prices in the spring.


 


Best Month to Sell a House


According to the seasonal home-selling differences above, the best months to sell a house are


Probably from March to June. That is because these are the busiest months of the calendar, with many home sellers listing their homes above average. However, like the actual market, all seasons do not start at the same time yearly across the globe. For instance, for the past few years, Toronto has entered spring from mid-March to mid-June. That means the best months to sell a house in Toronto are from March to August or mid-September (the beginning of Fall).


 


· The Best Months: April, May, And June


According to ATTOM Data Solutions 2023 home sales report, April, May, and June are the best


months to sell a house and get higher seller premiums. May leads with a 12.8% seller premium,


followed by June (10.7%) and then April (10.3%). March also has higher sales (9.7%) since it is the


month that ushers in the spring season, and most early sellers rush to list their homes to avoid the stiff


competition experienced in peak months.


 


· The Worst Months: October, November, December


ATTOM report also indicates that October, November, and December are the worst months to sell your home. That is because most home-buying activities start to slow down at the beginning of Fall (September), with many families saving for the school year. By October, sellers experience fewer sales, with seller premiums dropping to 6.8%. The worst happens in November when there is a market standstill, and sellers can only make 6.3% premiums.


 


The Best Day of The Week to Sell a House


The day you list your home can also make a difference, especially considering how busy buyers are during the week. That is because, just like there are good and bad months of the year, a week also has good and bad days. Therefore, here are the best and worst days to list your house:


 


· The Best Days: Thursday and Friday


Thursday is the best day to sell a house because it will have fewer days on the market. A home listed on Thursday will only sit two or three days on the market, depending on when you list it. If you list it after 5 pm, more people will view it once they come home from work and only have Friday and Saturday to decide.


Friday is also a good bet, making your listing look fresh to buyers. Listing your home on Friday


gives it only one or two days on the market, and you will likely have an offer by Monday. However, stick to the Thursday listing for faster sales and higher prices.


 


· The Worst Days: Sunday, Monday, Tuesday


Listing your house at the beginning of the week will have fewer people looking at it, translating to more days on the market. For example, a home listed on Sunday will have eight days on the market, longer than those listed on Thursday. That is because most buyers are busy planning for the week on Sunday and Monday, and I can only look at listings on the weekends.


 


The Bottom Line: When Is the Right Time to Sell a House?


From the above findings, the best time to sell a house is on Thursdays of every month from April to June. Houses listed on Thursdays of May have fewer days on the market and are likely to sell for above their asking values. However, it is crucial to remember that a home's time to sell can also vary based on regional and market conditions. Therefore, before listing your house, always assess all the determining factors to ensure they favor your goals and asking price.


 


 


 


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Pileggi Real Estate Team - eXp Realty
Tom Pileggi, Broker
P.O. Box 1665
Holland Landing, ON L9N 1P2
416-917-6566

Information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS®. Copyright 2024 Last Updated July 13, 2024
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