The spring months are often considered the best month to sell a house. In fact, across the country, the first two weeks of May tend to be the busiest and most lucrative time for sellers. Spring has warmer weather, longer days and lush gardening opportunities that increase outdoor appeal. On the other hand, between April and August is the worst time of the year to buy a house.
Home inventory is starting to increase, and with the end of the holiday season, many buyers will start looking for new homes. This causes prices to rise and supply wars to occur. Along with high prices, high inventory and homes that sell above the sale price, the frequency of removals also contributes to seasonal buying factors between the months of April and August. So, while these are usually the busiest months of real estate for agents, it's much harder for buyers to buy during this time.
According to seasonal trends, the best time to buy a home is from October to February, due to low demand due to the holiday season. These months offer better home prices for buyers and more space for negotiations with the seller. On the other hand, the worst time to buy a home is during the spring season to early summer, when home inventory is high, causing demand and home prices to rise. In addition to seasonality, other economic factors, such as mortgage rates, can also affect your ability to buy a home.
Spring is often the best time of year to list your home for sale, at least in the years before the housing boom caused by the pandemic. It's when shoppers tend to break out of winter hibernation and hit the market en masse. However, it's not just the weather that makes spring an ideal time to sell a home. Spring is also considered the start of the residential sales season.
Demand peaks in spring as more serious buyers are looking to buy homes. Since it normally takes a few months to close a house, many families start looking for it in April or May. By buying a home in spring, families can move in during the summer and make sure their children are prepared for the new school year in early September. The best time to buy a home is when you feel secure about your finances and personal goals, because there's a lot of excitement when searching for a home.
Let's take a look at the personal factors that influence determining when you should sell your house. Determining the “right time” to sell your home is subjective, as it really depends on your specific goals and circumstances. If your reason for selling is relatively flexible, for example, if you're looking for a larger house or a more convenient neighborhood, it might be worth trying to schedule your sale; however, it's not worth missing out on, for example, a great job opportunity or postponing an important goal in life, such as retirement. Of course, seasonality isn't the only factor to consider when deciding if it's the right time to sell your home.
In other words, it's best to sell when there's a low inventory of homes on the market and a large number of interested buyers looking. The average time it takes to sell a home in Virginia is 73 days, 38 days to receive an offer, and an additional 35 days to close. Perhaps the most significant drawback of selling a house in the summer is that buyers can request more concessions from the seller, such as asking the seller to pay closing costs. Buyers often arrive at open houses in droves when the weather is nice, which is why spring is often such a popular time of year to sell.
Selling your home is a stressful process that begins with determining the best time to put it on the market. Read on to learn more about the time it takes to sell a home in Virginia and get some professional tips on how to accelerate your sale, get better deals, and save thousands of dollars in the process. Selling your home is personal, so your time should depend on your specific circumstances. List your house on a Thursday to increase the chances of it selling faster and for more money.
Although demand usually peaks in spring, the best time to sell your home has less to do with the season than with local market conditions. But even in a more typical market, timing is everything, and this is particularly true when selling a home. The season you choose to list your home for sale will depend not only on how quickly it sells, but also on how much you ultimately earn from the sale. .