According to conventional wisdom and historic sales data, May has reputation as the best month to sell a house.
But recent Zillow data suggests March may be an even better month for home sellers. After excluding data from the first year of the pandemic, Zillow found that homes listed between March 11 and 18 sell most quickly.
Zillow also found that homes listed in April are most likely to sell above asking price.
However, your chances of selling your home plummet after September. By October, you're unlikely to sell for more than your asking price.
But why does real estate follow such a predictable seasonal pattern? Read on to discover five factors that make the warmer months best for home sellers.
And if you're looking for a real estate agent, our friends at Clever Real Estate can help. Clever offers a free, no-obligation agent matching service that connects you with trustworthy, pre-vetted agents near you.
You can get matched with full service real estate agents from national brokerages like Keller Williams, RE/MAX, and Century21 — and best of all, Clever negotiates major savings on listing fees. The average Clever seller saves $9,000!
1. School’s Out for Summer
Ask anyone who’s been the “new kid,” and they’ll tell you that moving in the middle of the academic year is rough. From making friends to catching up on curriculum, mid-year moves can wreak havoc on kids and parents alike.
That’s why families who need to move often prefer to buy in the spring or early summer and move just after school lets out.
By the time you need to shop for school supplies, your kids will be settled and ready for a fresh start.
2. There Are More Hours of Daylight
Additional hours of daylight mean your house has more time to look its best.
If prospective buyers come to look at your home after work on a weekday, they'll be able to see the way warm summer sunsets illuminate your living spaces.
If you have a yard, prospective buyers will be able to envision relaxing in your garden or hosting dinner parties on the patio.
By contrast, buyers who visit your home during the dark, cold days of winter may fail to notice or appreciate your home's full potential.
3. Demand Is Generally Higher in Summer
Although more homes are listed in spring and summer, more prospective buyers are also house hunting.
Plus, people looking for a home in summer are often very serious about moving — fast. They're highly motivated to close a deal before the school year starts again (or, the busy third quarter crunch that precedes the autumn holidays).
4. You Can Potentially Earn More From Your Home Sale
Your home's listing price will depend in part on comparable, recently sold homes near you — and in spring and summer, you'll have a wealth of data because more homes are selling.
You can also price your home more aggressively when demand is up and more buyers are out hunting for their dream homes.
5. You'll Avoid Winter Holidays
The colder months bring a wave of holidays, from Thanksgiving to New Year's Eve and everything in between. Home buyers are unlikely to welcome the stress of closing a deal and moving when they're trying to celebrate the season with family and friends.
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