Many people in the real estate industry suggest that homeowners wait until the flowers have begun blooming before they list their house for sale. Others suggest that sellers should put their home on the market somewhere between May 1 and May 15.
Studies have shown that houses sold in the first two weeks of May make $1600 more in profits on average and are bought approximately a week faster. Let’s discuss how seasons affect the real estate market in further detail today.
Selling A House in Spring and Summer
In most states in the US, the best time to sell a house is during the spring season. Many homeowners prep their properties in the winter months so they can sell to buyers looking for a potential house in the warmer season.
A recent study showed that houses sold in spring make 5.9% more profit and are sold 18.5 days faster. This is because tax refunds arrive in early spring, so people have more money to invest in real estate properties.
Moreover, curb appeal increases in spring as the flowers and plants in the front yard are flourishing, making the house look more aesthetic and pleasing. The nice weather and children’s summer break are an added incentive for moving or changing homes during this season.
Similarly, summer is also a top month for selling real estate. Data from ATTOM Solutions showed that June 28 is recorded as the day when most deals on houses close. The higher number of daylight hours in summer gives people more time and energy to go house-shopping.
Putting A House on The Market in Fall and Winter
Fall is usually not considered a high-selling season in the real estate world. Demand for houses decreases as school starts, and parents are reluctant to move their kids at the beginning of the school year.
Landscaping is more challenging to maintain during this season, and most houses lose their curb appeal as plants wither and leaves fall. The house is also harder and more expensive to keep warm as the colder months approach, which might drive up the prices and scare away prospective buyers.
Winter is considered the hardest season to sell a house. Many buyers looking for a place in winter are hoping to score low prices or discount deals, which ends up cutting into the profits of a home seller.
If you want to sell your house fast, consider selling a home for cash to us at Integrity Residential Solutions LLC. We buy houses in Akron, Canton, and Cleveland, Ohio. Contact us today to sell your home for cash.