There are many valid reasons you should sell your home now. However, you may be doubting yourself. You might have seen some ads that say, “We buy homes fast,” and you want to hear some opinions if it’s the best time to do it.
Thankfully, here’s a short guide to help you know the best time to sell your property and how to sell a home fast.
Sell your home in spring or summer
Many say that if you need to sell home fast, you need to do it during spring or summer. Before, many homes are bought quickly during May. Recently, the best month for selling a house fast has become March, and this extends until April, with April being highly rated as an excellent month to sell higher than the asking price. One of the potential reasons it’s good to sell in March or springtime is because people come out of the woodwork when winter’s over to look for new homes.
Aside from the season, tax season may also influence this trend. Some people may have gained a surplus in their savings after taxes or tax refunds. Alternatively, they may be looking for quick-sell homes to take advantage of certain tax incentives.
However, if you want to focus on profit, you may want to settle selling during June, May, or July. usually, when you get your property bought during those times, you can experience a higher seller premium.
And depending on who you’ll talk to, they’ll say one of these two months is better. Some may even say May, June, or July. Nonetheless, selling during these months will raise your chances of yielding more profit.
Moreover, while you should sell house in those months, remember that many factors can affect this trend. Before you even put your home on a listing, check the previous year’s data and see if this trend still rings true.
Sell your home during the fall
Aside from spring, the housing market experiences another boom during fall or the end of the summer. Most families tend to move to a new home before the school year starts or the weather gets nasty because of winter.
However, unlike spring, the fall isn’t always a reliable time to sell, so consider this option if there’s no way you can sell during spring, or you don’t worry about how much profit you’ll gain from the sale.
Of course, as you may have already deduced, the winter season is the worst time to sell a home. Many buyers are uninterested in looking for properties during this time. And most may be busy with the holidays or may not have too much because this season tends to make people spend more than usual.
Sell during the local market’s peak season
While the previous tips focused on spring and fall, you should know they are just according to the national trend. Some places in the country may be unaffected by the reasons cited in the previous sections and may have different market conditions.
Because of that, and if you want tosell your home faster, check your local housing market first. If possible, contact a real estate agent and ask about it. They may give you additional tips on when’s the best time in your city.
Sell during a seller’s market
Know that there’s a market cycle in the real estate industry, and this cycle has three states: buyer’s market, seller’s market, and regular market. The buyer’s market happens when there are more buyers than sellers. On the other hand, the seller’s market occurs when there are more sellers than buyers. While regular market occurs when the supply and demand of properties go into a relative equilibrium.
Selling your home during a seller’s market is lucrative as it can allow you to get your home sold faster with a higher price. However, while it’s easy to sell during that time, knowing and predicting when a highly profitable seller’s market will happen is a challenge.
Based on the 18-year property cycle theory, the tendency of a seller’s market to pop up now and then may even endure for more than 15 years of the regular market. Looking at historical trends in the housing market, the buyer’s market tends to come and go fast—two to three years max. The most significant proof of this theory is when proponents predicted the great housing crisis in 2008, which was the biggest buyer’s market for the half-decade.
However, know that this theory mainly applies in the United States. In some parts of the world, Australia, for example, this is considered a myth or inapplicable. So, again, always check your local market before selling, especially if you’re outside the US.
List your property on a Thursday
If you’re wondering: ‘How can I sell my house quickly fast?’ The answer is: list it on a Thursday! For some reason, homes listed on a Thursday tend to sell faster than other properties listed on any other day. On average, a Thursday listing may only take 90–180 days (average includes off-peak seasons). You should also know that Thursday properties often sell higher.
If Thursday seems like a bad day for you to do anything or you don’t believe in this trend, you may at least want to avoid listing on a Sunday since homes listed on this day historically perform poorly on the market. Sunday properties often sell less, take a lot of time before they get sold (usually seven days longer by average), and often don’t sell above the asking price.
Sell according to a home inspector
It’s easy for someone to devalue the price of your home. After all, you can’t sell home as is fast. So, even before they can step on your property, hire a home inspector to determine all the things that may give buyers and other inspectors good reasons to say that your price is too high for your home.
A home inspector can check everything on your property and point out all that requires repairs, renovation, and even removal. Let the inspector recheck the house once you go through all those things. If they don’t find anything else, it’s time to sell.
Sell when you have money
Remember that most people make stupid decisions when it’s something related to money. And the last thing you want to happen is for you to sell your home at a loss or fail to net any profit from the sale.
According to studies, people can become impulsive and irrational when experiencing financial stress. For example, if you’re thinking, ‘How can I sell my home fast for cash’ or ‘I need to sell my home fast because I’m desperate,’ you may bite on any buyer regardless of how much money they’ll give to your property. While that’s an extreme example, it does happen in reality.
Because of that, if you’re not in an emergency, hold off on selling your home. Try to build your saving or, at the very least, reduce the amount of debt you have. Solve any potential financial stress you’re experiencing, and by that time, you’re in a better financial position, sell.
Sell when you’ve decided
As you can see, the market is often in favor of sellers. Even if the seller’s market isn’t always ‘on,’ there’s a low chance you will be selling on a buyer’s market. As long as you sell at your local market’s peak and during springtime, you’re guaranteed that you’ll sell your property even at an underappreciated value.
So, what will be the best time? The best time is when you’re ready. After all, not all sellers send off their property on listings because of money. Sometimes, it’s because of their circumstances. They may need to relocate because of their job, family, and even health.
Also, you should make sure that you’re emotionally prepared to let go of your home.
Sell your home when your next home is already available
Of course, when you’re ready and the market is in your favor, it doesn’t mean that you can instantly get rid of your property. Typically, it takes 29–37 days before property in a U.S. city gets sold during peaks. In other sources, it says that the average is 55–70 days. Nonetheless, the selling process can give you two months to do all the things you need to do in it, so make sure to take advantage of those days.
Also, you should know that sellers—on average—take at least seven months of pondering before they can be ready to sell off their homes. So, don’t pressure yourself. Take your sweet time. Invest in improving your home to raise its value on the market. Settle on your next home—or find one.
It should be stressed that your next home, ideally, should already be there waiting for you even before you list your property. You wouldn’t want to be homeless for a few weeks and stay in motels for long periods—it’s not that financially sound to do.
If all of your stars align correctly and you’ve placed yourself in a position you can sell in a time that checks all the tick boxes listed here, then you’re lucky. However, not all are lucky enough, and most can only sell at opportune times. Nonetheless, if you’re not in a hurry to sell, you better plan your move now to ensure that once you sell, you’ll gain profit and get rid of your property fast.