When is the best time to sell a house? This is a common question we get from our clients. The short answer is: there is no time or season that’s the best. You need to sell at a good time for YOU. With Nashville getting anywhere from 80-100 new residents each day, there is always going to be someone looking for their next home in our market. Whether spring, summer, winter or fall, each season of the year has its own pros and cons when it comes to selling a house. Let’s break them down.
Many clients ask, “Should we wait until the spring to sell?” It is true, many people put off selling their house until the spring. The weather has warmed up so people are ready and willing to leave their home to go house hunting. Flowers are in bloom and nature is colorful. This makes your home more attractive to buyers and gives it increased curb appeal. If you have a deck or patio, the nice weather helps buyers envision using your outdoor space as they are eager to enjoy warmer weather.
Even though there may be more buyers during this time of year, there is also more competition. Inventory is very high so buyers have a larger pool of homes to choose from. On the other hand, an advantage of selling in the spring is there is a greater chance to get the money you want for your home. You’ll have more wiggle room to reject low-ball offers since there will most likely be another interested buyer waiting just around the corner. This is especially true in Nashville’s extremely competitive housing market.
Like spring, summer is a great time to sell a home because of warmer weather and flourishing landscapes. It’s also a preferred time for buyers who are looking to get settled into a home before the school year starts. Many leases expire in the summer, so you may find more first-time homebuyers during these months as well.
A negative aspect of selling in the summer is it can be a busy time for buyers. There are vacations, music festivals, sports games and other events that may occupy people’s weekends and keep them away from the house hunt.
Fall is another season of desirable weather. It is especially beautiful in Nashville. The major difference between selling in the fall versus spring is that people are busier in the fall. School is back in session and the football season has started – which we all know carries a lot of weight in the South. This leaves less time for buyers to spend their time searching for their next home. Additionally, it is right at the beginning of the holiday season which can deter some folks.
Another consideration when thinking about selling your home in the fall (and this is a minor one) is that someone who wants to move in right away may not have much time left to enjoy the home’s outdoor space. They also might not get a chance to get to know the neighborhood before the winter chill drives everyone indoors. This may lead them to postpone buying until the spring.
A pro to listing in the fall is that you may have less competition as many sellers themselves are busy settling into the school year and gearing up for the holidays. Keep in mind that a buyer looking at houses the week of Thanksgiving is definitely a serious buyer!
It is true. Around the holidays, there are fewer buyers. People aren’t as willing to get out because the weather is cold and gloomy. From December through February, people are busy with the holidays, family and just trying to stay warm! Although there are fewer buyers in the winter, this also means LESS COMPETITION! Many sellers cancel their listings during the holidays, which can be a great thing if you are selling your home!
Cold weather may deter a lot of buyers from looking, but those who do continue to look are most likely serious and really in need of a home. On the other hand, buyers often view winter sellers as desperate so they may attempt a lower offer. The best thing to do as a seller during this time is make sure to price your house right, thus limiting your home’s time on the market.
One more thing to note about the winter is that many people are wanting to start fresh in the New Year. They are making their resolutions a reality…and for some that means finally finding their new home! Happy New Year!
In summary, there is no perfect time to sell your home. Sell when the time is right for you and your family. Whether that is spring, summer, fall or winter, The Southbound Group is here for you. We hope to hear from you soon! Visit www.southboundgroup.com for more information.