When’s the best time to sell my home?
It’s one of the questions I get asked most often by potential clients. And I wish the answer was simple!
Countless ads and posts say, “Sell Now!” “Must Sell in Spring!” “Buy Now for the Best Rates,” but really, it’s up to you.
It’s your house. It’s your money. It’s your time invested.
I’ve put together a list of pros and cons about selling in the Winter and Spring so you can have all the information you need to make an informed decision about when the best time to sell is for YOU. (Not when other people want you to sell with them.)
Selling in Fall/Winter
In the winter, supply is down, meaning less competition for your house but possibly more time on the market due to lower demand. If there’s a lot of supply in your neighborhood, but not a lot of demand, it may mean we’ll need to be a little bit more strategic in pricing your home.
Colorado weather may affect the ability for people to visit your property, especially if it’s higher up in the mountains. However, fall colors make for great curb appeal if you live in a more wooded area.
Many families want to move into their new homes before the holiday season, which could mean contracts could close more quickly. However, the holiday season is a busy and stressful time to move if you’re not well-prepared in advance.
If you have kids, selling in the winter means they’re at school (and out of your newly cleaned/staged home!) You may notice their spring and summer schedules are busier, meaning more stress to keep the house clean with the new year.
Interest rates are low, which is driving buyer demand—but they’re predicted to stay this way, even through the upcoming recession.
Selling in Spring and Summer
Buyers come out in full force in the spring. In fact, more recently, they’re getting started before spring officially begins. Once the holiday season and the Superbowl are in the rear-view mirror, people are ready to begin spending their holiday bonuses and tax refunds on down-payments.
The boost in demand results in the greatest amount of appreciation we see all year, so it’s the better time of year to maximize your equity gains. Keep in mind, though, that it’s still of utmost importance to price your home accurately within the market in order for it to get sold, and for you to capitalize on your equity.
With all this in mind, also crucial to keep the home in top-top condition for the buying public. On average, buyers know within 10 seconds of walking through the door whether your house will become their house, or not. With more buyers seeing the home in the springtime, you want to make the best first impression you can.
So should you wait for spring or list now? Ask yourself:
- Am I ready for the stress of cleaning and repairing my home to go on the market?
- Does this work for my family/roommates/pets/me at the moment?
- Do I know where I’m moving once my home is sold? If not, is there enough supply in the market to make a successful move?
- Have I spoken to a lender to know if I have the ability to get a loan?
Be sure to consider all your options before being tempted to rush to the market. Denver is looking good, and our appreciation rates are higher than the national average, meaning that it’s always a good time to buy and sell as long as you know what seasonal market best suits you.