If you are thinking about selling your home, you will want to know when the best time is to get the best price. The market fluctuates depending on the season and your location, but traditionally, spring is the season when houses tend to sell the most quickly.
While many factors determine how long your home stays on the market, the time of year that you choose to sell will have a definite impact. If you can wait to sell your home, it’s best to choose a time that will bring in the most interest.
If you are selling your home privately, you will need to study your local market to determine when houses are selling the fastest. Let’s take a closer look at when the best time is to sell your home.
Seasonality
In most places, buyers tend to start shopping for a new house in the spring. After a long winter, many buyers are looking for something new, making spring the traditionally best time to find a new home. However, many factors will determine how quickly your home will sell, including your location, your listing price, and what season it is.
Spring
- As the weather begins to get warmer, more buyers start looking for a new home. You will notice more of an increase in buyer activity as well as an increase in the number of homes listed for sale. Typically in the spring properties tend to sell faster and for higher prices due to increased competition amongst buyers. Ideally, sellers should spend the winter season prepping their property for a successful spring listing.
Summer
- Still, it is a popular time to sell your home, although many people go on vacation during the summer, which may decrease the amount of interest you get when you list your home. Many families prefer to move during the summer to avoid disrupting their children’s school year. Prices typically remain high but stable during the summer season.
Fall
- Buyer activity typically begins falling in the fall. Remaining buyers in the early fall are generally looking for a quick sale, so they can get settled before the school year gets in full swing and the holidays arrive. Prices might start to decrease as demand declines and the market starts to cool down.
Winter
- Winter is traditionally the slowest season for house sales in Canada. Not only the season with the lowest buyer activity it is also the season with the least listings. Winter is typically the season with the lowest prices.
Best Month to Sell
Historically, the best time to sell your home is during late April and early May. This is when most potential buyers are coming out of a long winter and starting to think about making a move. Listing in the summer won’t always bring you the quickest sale, but your home will stay on the market for less time than selling in the winter or the fall.
Best Day of the Week to List
Many potential buyers start looking at new real estate listings before the weekend. They want to organize their search for Saturdays and Sundays, so they tend to start their planning on a Thursday. This makes Thursday the most successful day of the week to list your home. Listing on a Sunday or a Monday generally results in your home staying on the market five to seven days longer than listing it closer to the weekend.
Selling your home can be a complex process. Take these tips into account when choosing the best time to put your home on the market.
Whether it’s spring, summer, fall, or winter, if you find yourself in need of a quick sale for your property, SLG Home Buyer offers a solution regardless of the season. With SLG Home Buyer, you can bypass the traditional complexities of the real estate market and secure a swift transaction. Whether you’re facing time constraints, financial pressures, or simply seeking a hassle-free selling experience, SLG Home Buyer provides a reliable option to sell your property efficiently and without delay.