As you can imagine, figuring out the best time to put your home on the market has several benefits. For example, timing things correctly, can—at most—maximize your profits and—at the very least—reduce and alleviate the stresses, both financial and emotional, that come with selling a house.
Perfect! So, what’s the answer?
Like in most realms of real estate, there are rarely blanket, one-size-fits-all answers that apply to every person’s situation. It comes down to the specifics—where a seller lives, local market trends, and individual factors.
However, there are pros and cons to every season, which can help you determine the best time to sell a house.
Location is Everything
First thing’s first: there are a lot of fingers that point to one time of the year as the go-to time to sell a home.
Many sources will point out that the best time to sell a house is in springtime, especially during May. However, even this point is up for interpretation; depending on location, this can vary dramatically.
Zillow summed it up well: “Generally, the best time to sell a home to maximize return and minimize time on the market is May 1 to May 15…However, market circumstances influence the best time to list your house, including job growth, mortgage rates, and tax incentives. In fact, the ideal date to put your house on the market can be as early as April 1 or as late as July 15, depending on your location.”
So, while it’d be nice to assign a specific date, everything comes down to location.
On a local level, it’s important to consider the impact of just a few miles. The market in Aspen is vastly different than that of Silt or Parachute. When we say location is the most significant determining factor, we mean it.
Selling in Spring
Outside of location-specifics, there are pros and cons for each season that can help you determine the best time of year to sell a house.
- Spring boosts curb appeal as plants flourish. Warmer weather also helps buyers to get out and about for their search.
- Timing aligns with schools letting out, ideal timing for buyers with families.
- There’s still time before the “summer rush,” so you can get ahead of the competition.
- Many buyers begin their home search starting in spring.
- Competition tends to be fierce, so home imperfections carry a lot of weight.
- Depending on where you live, there could still be lingering snow, mud, or unpredictable storms and weather to deal with.
Selling in Summer
Likewise, there are benefits and considerations for selling during the summer months as well. Summer is often considered a great time to sell a house.
- Depending on where you live, the summer has pleasant, predictable weather and more hours of daylight for showings.
- Buyers with kids are hoping to close deals without interfering with school schedules.
- There’s a sense of urgency for buyers, along with more market data from the spring. This can lead to more competitive offers.
- Summer can also mean extremely hot temperatures, sometimes uncomfortable for house hunting.
- Competition gets higher, which can also translate to more concessions.
Selling in Fall
The list of pros and cons continues into the later part of the year as well.
- There’s usually less inventory and competition.
- Project costs and services tend to decrease as the busy season dies down.
- In Colorado, there’s motivation for serious buyers to close before ski season and the holidays.
- With less competition, buyers can get away with asking for more.
- The market can slow down as families settle into their school year routine.
Selling in Winter
Though winter is widely considered the hardest time to sell a house, it’s wise to consider all the deciding factors for this season.
- The Roaring Fork Valley has several ski areas. This is to your benefit during the snowy season!
- Buyers who want to take advantage of tax breaks might be highly motivated to close before the new year begins.
- With less inventory on the market, the competition is significantly lower.
- December, January, and February are popular times for people to start new jobs and look for housing.
- If the market is hot in your area during winter, this can mean more competition.
- The weather can have adverse effects, from landscapes covered in snow (hiding the highlights) to cold weather that keeps buyers from wanting to go out to look at homes.
- Moving post-sale can be tough in the winter.
Ready to Sell?
Is the time right? If you’re interested in taking the next steps and diving into the home-selling process, connect with the team at Sopris Realty today. Contact us online or give us a call at 970-945-7677.