Pros and Cons of Selling a Home in the Spring
Conventional wisdom says selling your home in the spring or summer is the best time to do so. The weather is warmer and it is daylight longer which makes people feel like they have better ability and motivation to move into a new home. Families buying homes also like to get settled before the school year starts. It’s the most convenient time to move.
In some parts of the country, the weather is predictable and there isn’t much change between seasons. These areas have a more balanced selling calendar, but for the most part, spring is the busiest home buying and selling season. But why? Here are some pros and cons of selling a house in the spring/summer.
Pros:
Sell for Higher: Counter to most markets, more inventory means higher prices. Houses sell for higher prices in the spring and summer, when the majority of houses go up for sale. The demand is also at its highest for the year so the supply and demand runs tightly during these seasons.
Appraisals Look Better: Statistics produce more accurate results when there is more data. This is also true when your home is being valued. An appraiser values a home by looking into data for comparable homes sold in your neighborhood. Having few home valuations (data points) to compare your valuation to is hurtful. In the spring lots of homes are on the market, meaning lots of valuations, or data points, surrounding your valuation helps you.
Spring Looks Better on Your Home: Properties look their best in the spring and summer. Landscaping is blooming and at its best. Daylight saving time provides more time for buyers to look at houses. The better your home looks and the more it is seen means a higher chance of gaining interested buyers.
Bidding Wars: A bidding war may not be fun for a buyer but it’s the seller’s dream. If you put your home on the market when inventory is high, in the spring, there’s a better chance you will receive multiple offers. You can end up getting more money for your home and buyers are less likely to make demands or request repairs.
Cons:
Picky Buyers: There are more houses on the market so buyers have room to shop around and find a house that has everything they’re looking for. Buyers become more selective.
The pros for selling in the spring far outway the cons. If you were to sell your home in the off-season of fall and winter, you would be dealing with thrift shoppers, selling your home for less and having a far lower curb appeal. The on-season, even with its cons is better than the off-season.
If you’re selling, let me help you get the most out of the on-season benefits! Make
sure to like my page on Facebook and share this post with friends and family you
know who are looking to sell their homes. Let’s get moving in the right direction.
Contact me today: 513-254-5440, email michelle.hudepohl@cbws.com or visit online. I’m ready to help you move in the right direction! Find me on Facebook.
Disclaimer: Michelle Hudepohl is an advertiser on MasonMetu. Many thanks for her continued support.
