The Question: ‘Vienna, When is the Best Time of Year to Sell Our Home?’
This is a very common question that comes from most potential home sellers who wonder if the spring market is the best market to capitalize on their investment; or is there any other time during the year that is just as good – or better?
The Short Answer
There is no doubt at all that springtime brings forth so many wonderful things. Like better weather, fun outdoor activities, and garden planting. It also gets people motivated to get down and dirty with the spring cleaning of their home – and discussing whether “now” is the time to upsize, downsize, or maybe relocate out of the area.
Historically, more homes do “pop-up” between February and May. This is likely the result of better weather, as well as home sellers with children gearing up for moving during the long break from school, with the hope they can close between late June and late August. Typically, it takes 60 days to close in WNY, so, if a home seller can get their house on the market by May and sell in June, they could be in their next home by August.
But what about the rest of the year? We can all agree that the calendar does not wait for lifestyle changes. Sometimes they are planned, but a lot of the time they are spontaneous. Lifestyle changes that can cause a homeowner to sell, and a home seeker to buy, include marriage, divorce, baby on the way, empty-nester, job relocation, retirement, job loss, income increase, or death. Lifestyle changes occur regardless of the season, and therefore home seekers are buying homes every day of the year.
It’s All in Your Perspective
If an owner waits until spring, it is likely they will be in competition with all other homeowners that have also waited until springtime to sell. More new listings all at once will mean more options for home seekers, and could consequently mean a lower sale price for some sellers.
If an owner should choose an “offseason” time to sell, for example October through January, they might have a better chance at the price they are hoping for because, while home seekers are still buying during those months, inventory is usually lower, meaning less competition for the seller.
The Silver Lining
There really are home seekers actively shopping every day of the year, year after year. We REALTORS get calls on every holiday – no exceptions – from home seekers looking to buy. So, if a home seller needs to sell outside of the traditional springtime market – with the right guidance from their professional – they can get a great price with preferred terms, even during a WNY snowstorm.
One Last Thought
If you are a homeowner, take a walk outside during this month and spruce up your exterior. Make it “show ready” by pretending a home seeker is coming over to look. Then call your trusted real estate agent and ask them to photograph the exterior of your property.
Why? Because you never know if you will have to sell during a snowstorm … and let’s face it: Your home looks so wonderful during the summertime. If your agent has these photos already in their arsenal and they must advertise your home during the wintertime, you can rest assured that, together, you are putting your home’s best marketing foot forward!
Vienna Laurendi is a New York State Associate Real Estate Broker affiliated with Howard Hanna WNY Inc.’s Laurendi Home Selling Team on Grand Island. She is an executive director for the Buffalo Niagara Association of REALTORS. You can email your real estate questions to her at [email protected], or call/text her at 716-4-Vienna (716-484-3662).
This article is an opinion piece and was not written with the support of A.I.