One of the most common questions real estate agents hear is, “When is the best time to sell my home?” While it’s entirely possible to list and sell at any time of year, the verdict on prime selling time is in. Data has shown that the best time of year to sell your home is during the spring.
The real estate market is always subject to change, but a 2016 study conducted by Zillow found that March, April, and May are the magic months for selling a home. Houses listed for sale during the first half of May sold an average 18.5 days more quickly than home listings that went up outside that time frame. Those houses listed for sale during that part of May also ended up being purchased for approximately 1% more than the average home listing. That 1% may seem small, but that equates to around $1,700 more in those sellers’ pockets.
But why is spring such a great time to sell a home?
There are actually several reasons that homes tend to stay on the market for a shorter period and sell for a higher price during this time of year. The temperate weather can make for appealing listing photos and makes buyers want to spend time outdoors. They’ll be more likely to check out listings or drive by desired areas in hopes of spotting a for sale sign. But even areas that don’t experience extreme seasonal differences notice that the market tends to pick up in spring. It’s the time of year where holidays won’t interrupt home viewings, and most families will want to start looking in spring to ensure they’re settled by fall. Since buyers look at a median of 10 homes over a 10-week period, they’ll often start in March, April, or May — which means your home listing will be right on target.
Of course, the right time to list your home will depend on your regional market and on your home itself. Working with an experienced real estate agent can help take the guess work out of deciding when to list your home and for how much. In Oregon, spring tends to be a great time to sell a home, and because it’s still a seller’s market, there’s no better time to start making plans. If you want to sell your home this year, spring is right around the corner. To learn more, contact Keller Williams today.