When is the best time to sell a house? This is a question I get all the time no matter what month or season we are in. What time do you think is the best time to sell a house? The answer may surprise you.
The answer is there isn’t a “best” time to sell a house. You can’t simply just look at the real estate sales cycle on a graph and pick August just because there are more sales in that month than any other. There are quite a lot of factors that go into this equation so let’s go through all four seasons in the Dallas real estate market and point out the pros and cons of each. (Just for clarification when I say Dallas I’m referring to North Dallas and surrounding suburbs like Plano, Allen, Mckinney, Frisco, Etc)
Is Spring The Best Time To Sell A House?
Springs in Dallas have their perks. The weather is warming up but not yet scorching, the flowers are blooming, the birds are singing restaurant patios start filling and it’s pretty darn perfect if you ask me.
But what does that mean with the real estate market here in North Dallas? Spring time is a busy season in the Dallas real estate market. Spring and Summer have almost always been the months we had the most closings. Let’s list some of the pros for selling a house in the Spring time.
Lots of home buyers usually put off their home search until the Spring time. In North Dallas there are many people who want to be in their new home before summer. The thought of moving everything in the dead of summer is dreading, which does help many buyers make their move earlier.
A huge advantage to listing your house for sale in the Spring time is that there tends to be more buyers in the market than listings on the market especially in early Spring. This is because a lot of North Dallas families wait until school lets out in May to put their homes on the market. The more potential buyers you have with less listings (competition) the better chance you have of selling your property for the highest amount possible. That’s just simple supply and demand. It is also an ideal time to sell if you have some nice outdoor space like a nice yard or deck, since the weather is going to allow them to pictures themselves enjoying it better than say if it was winter. Your landscaping will also be popping the most at this time if you have lots of flowers which will be beginning to bloom beautifully.
Springtime is a great time to list your house for sale but there are also some cons as well. For the very same reasons I just mentioned above, there are many others that will be beginning to list their property for sale. This equates to more competition in a Spring market than say a winter market. You should also have more buyers looking, but that can always fluctuate from market cycle to market cycle. Also you need to be considering where you are going to move. If you are planning on purchasing a house you have to be sure to time it out correctly, especially if you have to sell your home before you can buy a new one.
Is Summer the best time to sell a house?
Summer time is what most people would guess would be the best time to list a property and it can be but not necessarily. It is very similar to the spring season, but with a slight difference. Most summers are like spring except on hyper drive. This is when the most people are buying and selling which can be a good thing or a bad thing.
There is usually a big rush that happens in the earlier summer months. This is due to the obvious fact that people are trying to make the move happen over the kids summer break in order to minimize disruption in their lives. There tends to be quite a few leases expiring so this brings out the first time buyers in droves. There probably isn’t a better time for showings on your home since the quality of your pictures and videos will be much better than in the darker winter months. All of your landscaping should be at full bloom which makes your curb appeal pop. There are more buyers buying during the summer months as well which makes it a prime time to list.
There are definitely still a few cons of selling in the summer time, although not too many. One of the negatives is that during the summer time people are usually very busy enjoying their weekends, taking trips, and their focus isn’t entirely on buying a house. Also, even though activity during the summer season is much higher, this is going to be the time you will be competing the most with other listings since the majority of people list their homes during the summer.
Is The Best Time To Sell A House In The Fall?
Fall is one of my favorite times of the year. Maybe it’s because football season is starting back up or maybe it’s because by this point I am over the 106 degree days of summer. Either way Fall is a unique time in the Dallas real estate market and Believe it or not In my opinion the fall months as some of the best in the real estate business.
For Dallas real estate Fall is like a “second wind”of sorts. It’s not out of the ordinary for July to be a slower month and then t0 see a big burst of activity in August and September. Just like Summer there are many leases expiring at this time, school starts, and the procrastinators of the world who were planning on making their moves during the summer are forced into getting it done real quick since School has started and they ran out of time. The fall real estate market is always pretty strong. Typically you can expect a good buying demand until the end of September to mid October. Once we hit the winter months things can slow down a bit.
There are not a whole lot of cons of selling during the fall time. One con is that your landscaping is beginning to die and if a big selling point for your property is it’s outdoor space it doesn’t showcase it as well as Spring or Summer. Also if you have a pool the potential buyers are not as motivated with the idea of them having to wait 4 months to use it with the winter coming just around the corner. Just think about it, when you go to the store and buy a cool new product like an iPad, what do you want to do as soon as you come home? You want to start playing with your new toy. Well, home buyers are no exception, they want to be able to use the amenities straight away rather than wait so they place less of a value on those amenities. As illogical and short minded as that sounds, we place a higher value on things we can use right away so we have to consider this fact.
Is Winter The Best Time To Sell A House?
The Dallas real estate market during the winter is one of the most misunderstood of all seasons. We always get a lot of questions regarding this and it always surprises people. Let’s talk about the obvious, there is no doubt that things start slowing down in the Dallas real estate market around October and we feel it the most in November. Here comes the part people are always shocked to find out and that is December is usually our very best or second best selling month every year. Weird, right? I think this is the very last minute buyers trying to make it happen prior to the start of the new year. In any event this makes Winter a shockingly great time to list.
Your biggest advantage in selling during the winter months is competition. There really isn’t any! During this time lots of people will cancel their listing due to the holiday months. With less inventory comes a greater demand and when you couple that with the end of year rush we typically experience it makes it one of the best times to sell. The key to selling your home in the winter market is to properly position it by utilizing a full online marketing plan. If you can ensure your positioning is there you can really cash in during this time. Another thing to note is that buyers looking during the winter tend to be much more serious and therefore it won’t take 30 or 40 showings to sell it like some of the other seasons. What this means for you is you will be inconvenienced less since you will have far fewer showings. If you are sitting around with no showings though, it might be a good time to yank your listing and re-position it after the New Year to hit that second half of the Winter market. It’s still the winter market, but you have a chance of getting to the market before the Spring rush of sellers comes around.
The cons for winter are what you would probably guess. It’s darker and gloomier, which doesn’t help your pictures and videos for marketing your home. You also won’t see the buzz of the neighborhood since most people will be inside staying warm. For neighborhoods that have parks and in general a lot of people walking, running and just enjoying the amenities, the winter months are going to kill that vibe for you. The holidays are definitely going to be the biggest obstacle. Between Thanksgiving to New Year’s we have three holidays that all have breaks. These holidays are going to interfere with showings since people are busy doing other things. This is a two fold negative since you will probably be busy yourself during this time and it does make keeping your house show ready as well as allowing for showings potentially more difficult for you.
There is not a right or wrong answer on when is the best time to sell a house because situations are different. Rather than worrying about when the market is the best to sell, you should be thinking when is it most convenient and best for your family. You don’t need to compromise on that, your home can sell for top dollar in any season just as long as you custom tailor your marketing plan to accommodate the unique conditions of each market season.
If you are looking to sell your home fast and for top dollar you need more than just another agent. You need a true marketer who understands the North Dallas market and it’s seasonalities!
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