When Is The Best Time To Sell A Home?

When you decide to sell a house can greatly affect how long your home stays on the market and how much you profit from the sale. It’s important for Veteran homeowners to carefully consider the timing of their home sale and the factors that can influence the ideal time to sell a home.

After analyzing historical home sales data and current market dynamics, we cover everything you need to know to help you decide the best time to sell your home.

Best Month to Sell a House

There can be quite a bit of work to do before selling a home, so having a timeline of when to list your house can offer sellers peace of mind.

According to Realtor.com® housing data, the months of May and June have the lowest average days on the market with the highest average listing price. Homes listed at the end of spring and the beginning of summer tend to sell faster and at a higher purchase price compared to other months.

The table below shows how long it typically takes to sell a home and the average listing price the home sold for each month in the United States.

As you can see, seasonality plays a role in the home-selling market. The best months for Veterans to sell a house correspond to the spring and summer months are April, May, June and July. It’s likely that many families prefer to move after the school year ends but before the start of a new school year. Also, house hunting is much more enjoyable when the weather is nice outside.

On the other hand, the worst time to sell a house aligns with the winter months: November, December, January and February. Selling your home in the winter can be challenging since these months tend to take a longer time to sell and have the lowest average listing price. Most prospective homebuyers are flooded with holiday plans, and extreme weather can make it difficult to tour homes or to move.

Now, let’s look at the pros and cons of selling your home during each season, so you can determine which time of the year is the best for selling your home.

Best Day to List a House

Listing your home for sale on a Thursday increases the chances of your house selling quicker and at a higher price, according to a study by Zillow. Nationally, 21% of homes are listed on a Thursday compared to 13% of homes listed on a weekend (Saturday and Sunday combined).

In fact, Sunday is the worst day to list your home if you’re looking for a quick sale. Homes listed on Sunday tended to stay on the market for 8 days longer than homes listed on Thursday. It’s important to understand that the best day to list a house depends on your local market, and the Zillow data does not account for post-pandemic conditions.

Selling in a Seller’s Market

It’s essential to understand the current housing market when selling your home. It sets realistic expectations and helps you successfully leverage your home. For the fastest and most profitable home sale, you’ll ideally want to sell during a seller’s market.

In a seller's market, the housing demand exceeds supply—more potential buyers are looking for homes than there are homes available. This type of market often leads to competitive bidding wars, where buyers are willing to pay more than the asking price to secure a property. For sellers, this extra cash can help cover the costs of selling a house.

Here are some tips for home sellers in a seller’s market:

1. Price your home smartly: Even in a seller's market, overpricing your home can deter potential buyers. Set a competitive price that reflects the market value and may incite a bidding war.
2. Possibly opt for minimal improvements: Because demand is high, there's less need to undertake major renovations. Focus on minor repairs and cosmetic improvements that enhance curb appeal.
3. Be ready for quick decisions: In a fast-moving market, offers can come in quickly. Be prepared to make decisions promptly to capitalize on buyer interest.
4. Leverage multiple offers: If you receive multiple offers, work with your real estate agent to negotiate the best terms. This could mean not just a higher price but also better conditions, such as fewer contingencies or a more favorable closing timeline.

Selling in a Buyer’s Market

In a buyer's market, where the availability of homes exceeds demand, sellers may face some challenges. The imbalance offers buyers the advantage, allowing them the upper hand in negotiations. For home sellers, it’s necessary to recognize that the buyer has leverage. Strategic planning and adaptability are key factors when trying to attract attention and secure a home sale.

Be prepared to put in extra effort for your home sale. Enhancements that improve home value and curb appeal or functional upgrades may be optional in a seller’s market but necessary in a buyer’s market. Also, do your research and look at comparable market listings or recent sales in your neighborhood to find an appropriate home purchase price.

Consider these tips when selling a home in a buyer’s market:

1. Your home needs to stand out: With more competition, ensuring your home stands out is crucial. Invest in professional photography, make necessary repairs, stage your home effectively and highlight unique features that may appeal to buyers.
2. Be open to negotiation: Buyers have more leverage in these markets, so be prepared to negotiate on price, closing costs and other terms. Flexibility can be the key to closing a deal.
3. Offer incentives: Consider offering incentives to make your home more attractive. This could include paying for closing costs, offering a home warranty or including appliances in the sale. Make sure you have the financial stability to take on these costs if you choose to.
4. Patience is key: Homes may take longer to sell in a buyer's market. Be prepared for this reality and resist the urge to accept lowball offers too quickly unless necessary.

Is it a Good Time to Sell a House?

While the best time to sell a home is often in the spring, it ultimately depends on your area and specific situation. Staying informed about market conditions and seeking professional advice can help guide you when making this decision.

Interested in selling your home? Talk to a Veterans United real estate agent today at 1-833-593-5025 to discuss your home selling options.