If you’re thinking about selling your home, understanding how the housing market changes throughout the year can help you make the most informed decision. Real estate trends vary significantly by season, and choosing the right time to sell can mean a quicker sale and a higher price.
Here’s a breakdown of how the real estate market shifts throughout the year, based on insights from the National Association of Realtors.
Spring and Early Summer (April-June): Peak Selling Season
Spring and early summer are the busiest times for the real estate market. The combination of warmer weather and families wanting to settle in before the new school year creates a surge in buyer demand. Here are some key stats from this period:
•16,530 existing homes and 2,000 new homes are sold on average per day.
•Homes stay on the market for an average of just 33 days.
•Home prices peak, averaging 16% higher compared to the slower winter months.
For sellers, this is prime time. With more buyers actively looking, homes tend to sell faster and for higher prices. However, this also means competition among buyers can lead to bidding wars, pushing prices up even further.
Late Summer (July-September): High Activity Begins to Slow
While activity remains strong in late summer, the market begins to cool slightly as buyers finish moving before the start of the school year.
•16,200 existing homes and 1,810 new homes are sold on average per day.
•The median days on the market increases slightly to 35 days.
Sellers can still benefit from strong demand, but without the intensity of spring’s bidding wars. Buyers, on the other hand, may find more negotiating room as the season progresses.
Fall (October-November): A Market Shift
As temperatures drop, so does buyer activity. Homes typically stay on the market longer, and prices begin to soften. Here’s what to expect:
•13,810 existing homes and 1,600 new homes are sold daily on average.
•The median days on the market increases to 41 days, as fewer buyers are active.
For sellers, fall can still be a good time to sell, especially if you’re looking to avoid competition. The buyers who are out shopping tend to be serious and ready to make a decision quickly.
Winter (December-February): Slower, but with Opportunity
Winter is traditionally the slowest period for the housing market, as holidays and cold weather keep many buyers on the sidelines.
•11,380 existing homes and 1,640 new homes are sold daily.
•Homes stay on the market an average of 49 days.
While fewer homes sell during the winter months, sellers can take advantage of less competition. Buyers, meanwhile, may find that they have more negotiating power, and homes typically sell for around 5% less compared to summer.
Regional Variations
Seasonality trends vary by region. For example, areas with warmer climates or strong tourism markets may not see as significant a slowdown in winter. In colder regions, like the Midwest, sales can be cut in half during winter compared to summer.
For more in-depth insights, you can check out the full NAR article on market seasonality here.
So, When’s the Best Time to Sell?
While spring and early summer tend to offer the best conditions for sellers, the ideal time really depends on your specific circumstances and the local market. If you’re thinking about selling, I’d be happy to provide a personalized market analysis to help you make the best decision for your situation.
Contact me to discuss your options and get expert advice on how to time your sale.
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