Thinking about buying or selling a home? There are good times and bad times to do both. Knowing when they are can end up getting you more value for your money or a bigger return on your investment. Our real estate broker in Germantown knows the best and worst times to buy and sell a home. That’s why we’ve put together this helpful guide to get you started on the best possible timing. Need more advice on buying or selling a home? Get in touch with our team for more information on how to save with flat-rate fees.
The Best (and Worst!) Seasons to Buy or Sell a Home
Spring is one of the most popular times to list your home for sale. You have a chance to get through the busy holiday season and attend to any necessary repairs before you post your property on the market. Plus, it gives buyers a chance to view and make an offer on the place before the busy moving season in the summer. There are usually more properties on the real estate market in the spring than at any other time of the year and they usually sell a lot faster. One study found that homes listed in the first part of May “sold, on average, around 18.5 days faster than homes that weren’t listed during that timeframe.” Those homes also sold for more money.
Springs arrival isn’t all good news for the housing market, though. Because of the flood of houses on the market, sellers are going to face stiff competition in the market. That means they might actually end up getting slightly less for their property as they need to lower their asking price to stay competitive.
Most families prefer to move in the summer. You won’t have to worry about battling rain or snow when moving your furniture. Plus, children are out of school for the summer break, meaning there won’t be a disruption to their school schedule during the move. If it means they’ll be starting a new school in the fall, they can start with all of the other kids on the first day instead of moving in the middle of the year.
The only downfall to summer is, just like in spring, the competition. Buyers might actually struggle a bit more in the summer because they’ll be desperate to find a new property and make the move before the school year starts. This could lead them to actually make a bigger offer on a property just to get the process moving forward.
As the weather starts to cool down, so does the housing market. Families like to shop for new homes when the weather is nice and tend to retreat indoors when temperatures start to cool off. This is back to school season, too, so unless they have a really good reason to move, most families are just trying to get back into the school routine after a summer off and don’t want to add in the stress of finding a new home and moving. With the holidays approaching, there is even less impetus to move.
But good bargains are to be found in the fall. Homes that didn’t sell over the summer often drop in price in the fall in an attempt to get them off of the market before the winter. Buyers who are willing to move in the fall are often able to find a good price on a property they love.
Winter is a slow time for the real estate market. This is due in part to the holiday season. Very few families are willing to move during the holidays since it’s usually a stressful enough time as it is. Disrupting plans with friends and family to move is usually only an option in desperate circumstances. This leads to an interesting housing market in the winter. Buyers may be able to find bargains on the market from sellers who just need to get rid of their properties as soon as possible. Sellers may be able to find buyers willing to pay top-dollar in order to get the move done before the holidays arrive. So it’s a season of extremes; you might end up with no offers and you might end up with a great one.
Other Factors to Consider
- The best and worst times to sell can depend on where you live. Here in Germantown, our cold winters can bring the housing market to a standstill. In other areas of the country with milder temperatures, the housing market could remain more stable throughout the year.
- A good real estate broker can help counteract a disadvantageous season. Just because you have to list in the winter doesn’t mean all hope is lost for getting a premium price. A good broker will know how to market the home to qualified buyers who are willing to pay the right price for your property.
- Flexibility matters. If you can be flexible about when you want to move, it could end up netting you a great deal on a property. If you can be flexible about when you list your home or close on the sale, you may be able to get more out of your investment.
Ready to Buy or Sell a Home in Germantown?
When you are working with the right real estate broker in Germantown, there is no bad time to buy or sell a house! That’s because they know how to market your property to get you the top dollar or how to find you a place that exceeds your dreams and stays within your budget. Exsell Real Estate Experts can do all of this and more, and all with our low flat-rate fees. This can end up saving sellers thousands of dollars in fees, and buyers never pay for any of our services! If you’d like to learn more about how we can help, get in touch with our team. You can reach us by giving us a call or contacting us through our website for more information.