When you’re thinking of selling your home, the time of year is an important element to consider. Though the way your process goes is not set in stone, there are overarching trends in the real estate market that are correlated with the four seasons. You should learn about them so that you may determine the best moment to sell based on your preferences. In this post, we’ll shed light on how seasons impact real estate to help you.
The warmer parts of the year are generally filled with more activity as far as the housing market goes. This makes sense since people are no longer restricted by the cold and poor weather that comes during winter. It is easier for them to hunt for a new home and undergo a move in the springtime. Consequently, you can expect that there will be more buyers during this time. The higher demand can allow you to raise the selling price of your home since it is likely that multiple people will place bids on your home and compete for the purchase. You can also sell your home more quickly, which can be another plus.
Summer is similar to spring in that the weather is still ideal for buyers. Families with children may also like this season because school is not in session. Real estate activity during summer is high, and there are usually many buyers contending for the most advantageous transactions. Again, you as a seller may benefit from this competition.
With the peak of the market past, fall is typically a time that favors buyers, since there are fewer of them still searching for a house. Thus, you will probably need to lower your selling price because there is less demand. On the other hand, there are also fewer sellers during autumn, so your property will receive more attention from those who are looking for a new home. You should note that COVID-19 has impacted real estate this year, though, and selling this fall may actually be a smart choice because of the unusually high demand that exists right now.
Winter is the biggest example of how seasons can impact real estate in a way that diminishes activity. In contrast to spring and summer, it simply isn’t practical for many people to make a major move when temperatures are frigid and rain and snow are falling regularly. Moreover, winter is when many major holidays take place and the school year is about halfway completed. In spite of all these drawbacks, you may want to sell during winter because the few buyers that you will speak with tend to be more to-the-point. They will not want to spend a great length of time perusing multiple listings, so the selling process can go quite smoothly.