Did you know that, on average homes sell 20 days faster at a 6% higher price the first two weeks of May? Or that in places like Vail and Aspen, winter is the prime selling season?
That’s real estate seasonality.
Let's have a quick look at how seasons may affect the sale of your home.
Spring
Selling your home in Spring is the peak season for capturing enthusiastic buyers.
Why Spring?
There's a few reasons spring is a great time to sell.
Approximately 70% of people receive a tax refund in Spring.
Sellers often use money from their tax refund for home renovations and buyers use their returns to help cover down payments and closing costs.
Perhaps an even more compelling reason the Spring market is a great time to sell is many buyers start shopping for a home in Spring. By the time they get an accepted offer and closing takes place, their family is able to move and get settled during the Summer months. School's out for Summer and this affects many buyers decision to start searching in Spring.
How to Make the most of a Spring Sale
Curb appeal is no secret in the real estate industry. According to
HomeLight, a well-landscaped home is worth up to 10% more than one that isn’t landscaped. Spring is an ideal time to spend a couple extra dollars improving the landscape around your property.
Summer
Summer is another prime season for selling real estate. Fun fact: nationally, more closings happen on June 28 then any other day of the year. The end of Summer is a great time to find motivated buyers looking to wrap up house hunting before students will be returning to school.
Why Summer?
When the grass is green and the weathers warm, it’s easy for people to imagine life in their new home.
If you're looking to make the most of a Summer sale, it's an ideal time to spend a couple extra dollars improving the landscape around your property. Curb appeal entices buyers to form a positive association with a property and will likely increase what they're willing to pay.
Fall
In fall, the real estate market tends to slow down compared to Spring and Summer months.
Why fall?
According to the National Association of REALTORS®, almost 70% of home buyers have no school children under the age of 18 living in the household.
Fall is a great time to sell smaller homes that may not be "family-friendly".
Buyers active in the Fall market tend to be in their 20's and 30's and seniors as most of the families with school children have already committed to their purchases.
As the spring and summer real estate rush dies down, contractors, landscapers and home staging professionals have more availability. Fall is a great time to take advantage of seasonal discount and promotions offered by these professionals.
Winter
Winter tends to be slowest market to sell a home.
Why Sell in Winter?
Less competition. Buyers in Winter tend to be highly motivated. Buyers have fewer properties to choose from in Winter and desirable properties may be able to charge a premium during this time.
Get a competitive offer on your home in any season
Even though most real estate agents will claim spring is the best time to sell your home, the best month to sell your home is the month that suits your needs. It all depends on your timeline and what works for your situation.
We hope this broad overview of market trends, broken down by season, shed some light on what to anticipate from the sale of your home. For a more in depth article on seasonality check out
What is the Best Month to Sell a Property.
If you’re selling a property that needs a little TLC,
CoreMark Homes may be an ideal buyer for you. We buy in every season.
If you’re interested in a competitive cash offer,
contact us today.
