What is the Best Season to Sell or Buy a Home?

If you're thinking of buying or selling, the season or month can influence both demand and pricing. Two major factors influence the market regardless of where you live; weather and school district schedules. Of course, your timeline will dictate the ultimate decision you make, whether you're downsizing, relocating, or needing more space for a growing family. 

Spring + Summer
Beginning with the first thaw, spring, and summer tend to be the most active time for both buyers and sellers. With warmer temperatures and leases coming up for renewal, the bulk of traffic will be between March and July. As a buyer, you will have the greatest selection of inventory to choose from, but you'll also see the most competition. As a seller, this is the time you're most likely to receive multiple offers on your property (as long as it is priced appropriately).

Fall
The fall season for real estate starts generally around the middle to end of July. With the average closing taking around 30-45 days, people, especially families, are looking to be settled by the start of the school year. During this period you'll see the number of homes available on the market plateau and eventually start to decline. As a seller, you're not going to have as large of a buyer pool. However, this buyer traffic tends to be more motivated to move to get into a home before the first snow. You're also going to find buyer traffic that has had a difficult time winning in multiple offers during the spring and summer months or didn't find their dream home. 

Winter
Moving during the winter months can be perilous - blizzards, ice, snow - can make moving from one location to another more difficult. Leases tend to have clauses where renters cannot move out during the winter months, and several holidays come between November and the middle of January. As a seller, you're going to find the majority of buyers during this period are relocation buyers as well as families that have had a life change. 

Moving is stressful even in the best of circumstances, but understanding the market a bit better (as well as having a solid realtor on your side) will help to mitigate some of that stress. Ready to make a change, reach out!