Winter (December-February) With this in mind, buyers often want to close before the end of the year in order to take advantage of potential tax breaks, which could mean an expedited sale to the right buyer. The worst month of the year to sell a house is December, which coincides with October with a 5.8 percent seller premium, according to ATTOM. Homebuying activity usually almost stops in December, when people tend to travel and are busy with Christmas events. The end of the year is usually the time when people are notified that they are moving due to a work transfer, or perhaps they receive an offer from another company that is too good to pass up.
Spring is generally considered to be the best time of year to sell a home. The season marks a time of renewed energy after the long winter, and this applies to home hunters starting or continuing their property search. The holiday season may be a slower time for homes to sell. If your property requires repairs or upgrades, it may be more difficult to sell it before the end of the year.
When people work with us, we offer cash offers on homes in any condition, but we also help the owner understand how much their home would be worth if they want to make upgrades and list it for sale with a real estate agent. We can even provide reliable recommendations for contractors and real estate agents. But, if your goal is to sell before the end of the year without repairs, then working with cash buyers is a great alternative. We can often close in 15 days or less.
Before considering the pros and cons of selling during each season, research the best time of year to sell a home in your region. In most areas, the best time of year to sell a home is during the first two weeks of May. You can expect to sell 18.5 days faster than any other month and for 5.9 percent more money. Elsewhere, early April or June is better for home sales than May.
There are pros and cons to selling homes in spring. However, in tourist areas such as Florida, Arizona, Southern Nevada and ski towns, winter is the best-selling season. Either way, if you understand the pros and cons of selling in the winter, it might be the best time of year to sell you a house. As long as you know the pros and cons of selling during each season and in your area, you're likely to make the sale of your home happen.
Some people may argue that it is difficult to show a house in winter because there is snow on the ground, the house is drafty, and there is a lack of external appeal. We'll provide you with an instant home value estimate so you can make a more informed selling decision. Because most of the monthly mortgage payment initially goes to interest, it usually takes four to five years for your home to build up enough equity to make it worth selling. Putting a home on the market during the holiday season can be harmful to sellers, especially if you're trying to prepare your home both to entertain it and to show it to potential buyers.
Of course, if you're selling a house that can be marketed as a summer vacation home, then winter would be an ideal time to sell your house. But if your house is for sale in winter and someone is looking at it, chances are that person is serious and ready to buy. Because of stiff competition and the influx of cash buyers, now might be the time to sell your home for a relative premium, even if it has some flaws or some outdated bathrooms. Even if you keep up with up-to-date information about the real estate market and your equity situation, deciding whether to sell now or wait often comes down to a battle between heart and mind.
Caroline Feeney is the senior managing editor of HomeLight, where she oversees the Seller Resource Center, a blog that features hundreds of detailed articles that address every step of the home selling process. Your home may not be “family friendly” or you may live on the coast, where some areas may be cloudy and cold all summer long, but warm and beautiful in the fall. By filing income tax, you can deduct costs related to the sale of your home and the cost of repairs and improvements related to the sale. The decline in premiums for sellers usually begins in September, when the average premium falls to 7.5 percent, just over half the peak in May.