Good Real Estate Agents - Real estate agents information services US realtor search Canadian MLS Listing Search Link to home

When is the best time to sell a house ?

Spring ?

In all of North America, spring always has been the time with most real estate transactions taking place for the year.

The reason is : when a family decides to move to a new neighborhood, the first thing that comes to the mind of the parents is the new school.  That means they want to be there by the beginning of September, when schools start the new term.

Count back 3 months: Usually, for existing homes, on average, after a house is sold on a particular day, it takes 2 to 3 months for the transaction to complete (the day when the buyer becomes the new owner of that house, or usually, the day the family moves in).  That means 3 months before beginning of September, they need to have bought the new house on an Agreement of Purchase and Sale (or the Offer), and that means, by beginning of June, the family should have bought the house in the new area.

Now, count back another 3 months

(1) if the family is now living in their own house, and they need the time to sell it, before they can buy the new house.  So, they need to give themselves another 3 months to do so.  And now, we are at the beginning of March.  So, by this time, they need to have the house on the market for sale

(2) If the family is now renting, usually the landlord requires 2 months’ notice for them to move out.  So, the 2 to 3 months time is still needed.

This is the reason why SPRING (March to May) usually is the busiest time in  real estate in the United States and Canada.

Is it the best time to sell a house ?
While we have most real estate activities at this time, we also have most competition for the sellers !
It certainly depends on individual family need.

Surprise, in winter !

The public feels that “who is looking for houses in the middle of winter ?”
While it is 80% true, but you always have someone who just sold their houses last night, the night before, or a few days before ! in WINTER !
For that reason, some houses, having certain drawback, that were unable to sell in summer or fall might get sold in WINTER !

The reason is: in winter, we have limited supply of houses in the market.  Low inventory of houses.

Many buyers do not prefer houses on a corner lot, because they feel that

(1) traffic is busy, cars stop and go there;

(2) more work ---- need to mow more lawn or clear more snow around the corner.

Other buyers do not want a house with swimming pool for the safety of the children.
But these houses get sold in winter because of limited choices.
That means less competition for the sellers.

So, when is the best time to sell a house ?

The conclusion is, any time is good time, as long as the family is ready.