Not everyone is going to have the lenience to be able to choose when they buy or sell – life brings unexpected circumstances quite often and it’s hard to account for things such as quick job changes, family emergencies, or one of the many various other reasons for a speedy move. However, if you are fortunate enough to have time to really plan it out, there are some seasons that are much better than others to put your home up for sale, or look into buying.
Selling – ‘For sale’ signs are popping up like daisies, and for a good reason. This is the most common season to begin selling for many reasons. People with children want to get the process underway and complete as to not have anything move-related interfering with their children’s’ school schedules (if everything is finalized by late spring, then moving can be taken care of during the summer months when children are not in school). Others want to get everything out of the way early in the year for tax purposes. Also, for obvious but notable reasons, spring is the most aesthetic season to stage a home and makes for a far more beautiful backdrop of blossoming flowers and trees after the long, harsh winter months.
Since there are so many houses on the market in the spring, prices are able to rise and become more competitive. If you are selling, you will probably get a bit more leniency in bumping up your asking price.
Buying – Inventory is large because so many are selling, so since the competition is steep in the spring compared to other months, don’t be afraid to do some bargain hunting. Actually, don’t be afraid to do a lot of bargain hunting. Make offers, and hunt around for good deals without jumping at the first price you see. Sellers have the competitive edge price-wise in the spring, but you have the competitive edge of being able to be picky! Don’t be afraid to really get invested in finding a great price for what you’re looking for.
Selling – Everyone that bought in the spring is now getting all settled in to their new places. This is also the popular time for vacations and trips – not to sell your home. People are outside enjoying the weather, not house hunting. That being said, it’s definitely not the end of the world if you have to sell your house in the summer months, the process just might take a little bit longer.
Buying – Bargain shopping will be much easier. The selling market is not as competitive, so the prices definitely will be. This is a great time to find someone who has just bought a new home (possibly during the spring peak) and has to get rid of their old one fast. With that urgency comes the ability to negotiate.
Selling – Although there is less of a buyer market in comparison to the spring months, this can still be a very promising time to sell. Those looking to buy during this time typically have more of an urgent reason to relocate, so you just might be able to sell for top dollar pretty easily. In contrast, if you list your price too high, it will never sell. It’s crucial to stay on top of potential buyer’s responses, and change your game plan accordingly.
Buying – Often times those that are selling in the fall are selling with an urgency to get rid of their house quickly. These are usually people who bought brand new houses in the spring/summer, or are looking to relocate on a short timeline. If this rings true for your situation, you may be able to negotiate price-wise.
Many people are trying to sell quickly so they can buy a new home before the year ends, so they can pay all of the tax-deductible expenses to reduce state and federal income taxes. This is another factor in the urgency of autumn sellers.
Selling – There is a common theme in the real estate world that winter is not the best time to sell your home. People are more consumed with holiday plans and being with family and friends than house hunting. Depending on your location and if you live in an area with harsh winters, there is definitely less motivation to go on house tours and actively search when it is 20 below outside. However, similar to autumn, most buyers during the winter are buying for a pretty specific reason. Getting your asking price might be less of a struggle due to desperation.
Buying – Similar to summer, the market is smaller, so you can have a competitive edge on negotiating your pricing if you have a willing seller. Also, because most are in the spirit of the holidays, you may be able to find someone with a generous spirit in light of the holiday season that is willing to go a bit lower with their asking price.
Having the ability to strategically choose when you are going to buy or sell your house is extremely convenient when it comes to picking a prime season to do so. However, since life does not always go as planned, be mindful of how each season may just be able to play in your favor.