What’s the Best Time of Year to Sell Your Home?
When you're ready to sell your home, you naturally hope for the quickest possible sale and top dollar. You may have heard that one time of year is better than another for selling real estate, but is that necessarily true?
A variety of factors affect real estate sales, including where you live, the housing market and even the weather. Read on to find out what you need to know about the best time to sell your home.
What's the Weather?
As a general rule, you should list your property when the weather is good. Rain and other decidedly bad weather can keep buyers from going out and looking for a new home. When the weather is nice, it encourages home buyers to see what's out there.
From a psychological perspective, your potential buyers' moods are improved when the weather is nice, and you want happy shoppers coming in to tour. Fortunately, in Southern California, perfect weather is almost always in store!
Seasons of Home Sales
Some industry insiders suggest that spring and summer are the best times of year to list your home. In some markets, May through July are popular months for home sales because kids are out of school for the summer. Today, however, with many school systems adopting a year-round calendar, this is much less important than it was even a decade ago.
Many people receive a holiday bonus at the end of the year and a refund on their taxes in the new year. Armed with cash for a down payment, the early part of the year is also a lively time for home sales.
As interest rates adjust throughout the year, this provides an incentive for potential buyers to make a move. Rates have been historically low for several years; however, industry insiders predict rate increases in the near future. Because even an eighth of a percent can raise the cost of buying a home by thousands of dollars over the life of a mortgage, this may mean a flurry of buyer activity is on the horizon.
This factor, more than any other, is why you need a real estate agent. Realtors® have direct knowledge of your area's inventory, which has a significant impact on the appeal of your home to potential buyers. This is not a static factor, as it changes on a daily basis. Local agents also know the seasonal trends in your area as well as other factors that may provide additional buyer motivation.
Contact the local experts at the Edie Israel Team to learn more about the real estate cycles of the Yorba Linda area. Our experienced team of Realtors® is dedicated to making your transaction a success. We specialize in helping you achieve your goals for price and time on the market. Call us for more information about how we can help you sell your home.