When Is the Best Time to Sell A House? (2024)

FAQs

When Is the Best Time to Sell A House? ›

Late spring and early summer are generally the best times to sell a house. Traditionally, low mortgage rates and short supply make it a good time to sell. While today's rates are still high, low inventory is keeping sellers in the driver's seat in most markets.

October is the worst month to sell

Homebuying activity typically comes to a near-standstill in December, when people tend to travel and are busy with holiday celebrations.

Nationally, the best time to sell a house is March if you're trying to sell quickly, while the best time to maximize profit is July. Zillow recommends listing your home for sale in March, but no later than Labor Day, based on historical market trends.

Most collapsed house sales happen before exchange. The reason for this is simple, once you've exchanged contracts there is the risk of losing large amounts of money if a sale falls through.

Reasons to Sell a Home Before a Recession

Best Price – Home prices are typically at their highest during a time of economic expansion which is the opposite of a recession. If you want to get the highest price for your home, aim to sell the home at a time of economic exuberance.

Typically, winter time is the slowest of the year to sell a property, specifically November, December, and January. However, there are some exceptions because there are several conditions that affect the housing market.

After an offer is accepted, home sales typically require an additional 30- to 45- day closing period before they are officially sold. Therefore, the average time it takes to sell a house is 55-70 days in the U.S.

According to Realtor.com's research, listing your home the week of April 16 through April 22, 2023, is the best timing for a successful sale.

Winter is usually the cheapest time of year to purchase a home. Sellers are often motivated, which automatically translates into an advantage to you. Most people suspend their listings from around Thanksgiving to the New Year because they assume buyers are scarce.

Spring is when most houses go on the market.

What day of the week do most houses sell? ›

Thursday is generally thought to be the best day of the week to list a house for sale. Studies show that homes listed on Thursdays are more likely to sell faster, and for a higher price.

Typically, the seller signs the closing documents first, before the buyer even arrives at the office where the closing is taking place. Buyers have to sign a LOT more documents than the seller and it is not necessary for the seller to sit and watch the buyer sign their papers.

Home sellers can benefit from inflation in real estate. Home sellers in an inflationary market are rewarded with a higher sale price compared to previous times.

A seller in a hot market has a better chance of selling a home "as-is" without having to make major updates. Whether you, as a seller, make any significant fixes to the property before listing is best decided through a discussion with your agent to evaluate comparable properties in your neighborhood.

It's Coming Up. The best time to sell this year will be the week of April 16-22, Realtor.com® predicts. What makes this week in mid-April so great is that sellers can expect there to be less inventory on the market, making homes listed more in-demand.

The best time to buy for a good deal

Sellers' who need to move quickly are more likely to accept a low offer. For this reason, November and December can be a good time to get a bargain. Sellers who are under no pressure to move often delist their properties with a view to re-launching in the new year.

You may have to lower the listing price

Just like the weather, the housing market tends to cool off during the fall months. Unfortunately for sellers, this drop in demand often means a drop in prices as well. In general, sellers are less likely to maximize their home's selling price during the fall.

Deals can fall through for any number of reasons. An inspection may reveal something unacceptable about the home, or the buyer's mortgage application may be denied. In some cases, a title search may turn up legal issues with the home, or an appraisal may come back significantly lower than the agreed upon sale price.

The most common reason why a house fails to sell is because the asking price is too high for the current market or for what the home offers. If your asking price is unreasonable and doesn't compare favorably to similar properties, it's unlikely your house will sell.

Why isn't my house selling fast? ›

The most common reason why your home may be sitting on the market is due to high pricing. You can avoid overpricing your home by talking with your real estate agent and examining the value of similar homes in your area.

After 90 days, most real estate agents deem that property as "stale." This stale property may get less money when it finally does sell. Why? Many buyers see a longer time spent on the market and make assumptions that there's something incredibly wrong with the home.

Zillow still predicts that the vast majority of regional housing markets will see home values appreciating in 2023. Among the 897 regional housing markets Zillow economists analyzed, 853 markets are predicted to see rising house prices over the next twelve months ending with April 2024.

With mortgage rates declining faster than expected, home prices are likely to remain mostly flat throughout 2024.

The combination of persistent buyer demand and low inventory has driven property prices up. There are fewer sellers, so prospective buyers need to contend with higher housing prices. As such, if you buy a home in 2023, you're likely to pay a premium.

Specifically, the end of May and June typically see the most home sales. However, summer is often cited as the most expensive time to buy a house — with prices potentially as much as 10% higher. This is partly because many families want to purchase a house before their children start a new school year.

Despite concerns about high inflation, rising rates, and the possibility of a recession, public sentiment suggests that 2023 may still be an excellent time to sell. The Canadian property market could soon be experiencing a downturn, with declines in house sales and prices expected in the next 18 months.

Based on Redfin's 2022 data, June is the best month to sell your house in Florida. Houses sold in June net higher than their asking price. Nearly 39% of Florida homes sold in June were sold about 100% above their listing price.

When you're in your middle years or older, chances are you'll have a higher, steadier income and a better idea of where you'd like to settle down than when you were first starting out. You'll also leave yourself time to build excellent credit, which may qualify you for the best available mortgage rates and terms.

This delay in itself will not cost you extra money, but if the 3-day delay pushes the repayment of the old loan too close to the weekend, you could end up with a longer overlap in interest payments. You will ideally want to sign your documents on a Tuesday or Wednesday to avoid this issue.

What are the best colors to sell a house? ›

"Generally, going with neutral colors like shades of white, beige, taupe, and grays lead to a faster sale," she shares. "Neutral colors are also more appealing to potential buyers because many want the creative freedom of a blank canvas to add their personal touches to when looking for a new place to call home.

The rooms buyers most closely inspect (and judge) in a house are the kitchen and master bath. These are the interior spaces where the most value can be added during a sale, so they need to look their best.

Real estate agents often suggest that sellers either accept the first offer or at least give it serious consideration. Real estate agents around the world generally go by the same mantra when discussing the first offer that a seller receives on their home: “The first offer is always your best offer.”

The answer is often “no.” Conventional wisdom might suggest that during negotiations, especially in a multiple-offer situation, the buyer who throws the most money at the seller will snag the house. In reality, however, it doesn't always end up that way.

After peaking at 6.2% in 2022, we expect inflation to fall to 3.5% for 2023. Over 2024 to 2027, we expect inflation to average just 1.8%—below the Fed's 2% target.

However, as high inflation costs press down on buyers, it could depress home values. Although he doesn't expect a major housing market crash, Buehler says he sees home values flattening out as inflation nestles into the housing market.

Average Home Value Increase Per Year

National appreciation values average around 3.5 to 3.8 percent per year. Ownerly explains that the average home appreciation per year is based on local housing market trends as well as the economy, and this makes for a great deal of fluctuation.

Turn the heat up before you leave for showings, your utility bill be damned. Stick to 68 to 70 degrees Fahrenheit to keep everyone comfy. “It will make the house feel homier and more welcoming,” Davis says. “It also gives the impression that the house is energy-efficient and well-insulated.”

Key takeaways

Mortgage rates typically drop during a traditional recession. Home prices can drop as well, with fewer qualified buyers and less competition for homes.

Is buyers market better than sellers market? ›

A buyer's market is the ideal time to purchase a new home because prices are lower and there are fewer buyers to compete with.

Future Plans: If you have plans to buy a new home in the near future, it may be better to wait until 2024 to sell your current home. This way, you can take advantage of any market improvements and get a better price for your home, which could help with the down payment and closing costs of your new home.

Publicly traded companies continue to see a slide in revenues in the second quarter of 2023. The larger question is how long it will take for earnings to recover. FactSet Research Systems estimates that S&P 500 second-quarter earnings will decline by 6.3%, and revenue will fall by 0.4%.

Looking ahead to second-quarter reports, analysts are calling for S&P 500 earnings to fall 6.4% compared to a year ago. Fortunately, analysts are projecting S&P 500 earnings growth will rebound back into positive territory in the second half of 2023.

Buying A House In The Winter

Winter is usually the cheapest time of year to purchase a home. Sellers are often motivated, which automatically translates into an advantage to you. Most people suspend their listings from around Thanksgiving to the New Year because they assume buyers are scarce.

Most listings hit the market in a short window between the months of April and June. If you're planning to buy in a market with harsh winter weather, May and June typically have twice as many active listings as December or January.

Specifically, the end of May and June typically see the most home sales. However, summer is often cited as the most expensive time to buy a house — with prices potentially as much as 10% higher. This is partly because many families want to purchase a house before their children start a new school year.

More people start their search for a new home in spring, and we start seeing more properties listed for sale. Over the past five years*, our research shows that March has been the best time of the year to sell a home.

Homebuyer.com data analysis indicates that, for first-time home buyers, June 2023 is a good time to buy a house relative to later in the year. This article provides an unbiased look at current mortgage rates, housing market conditions, and market sentiment.

What day of the week do most house showings occur? Sunday is the day of the week with the most home showings.

What day of the week are most properties listed? ›

In today's competitive housing market, the time it takes to sell a home is measured in days, not weeks. Homes listed on a Thursday sell faster on average and are more likely to sell above list price than those listed on any other day of the week, a new Zillow® analysis reveals.

During a traditional recession, the Fed will usually lower interest rates. This creates an incentive for people to spend money and stimulate the economy. It also typically leads to more affordable mortgage rates, which leads to more opportunity for homebuyers.