The Best and Worst Times of Year to Buy and Sell Property
This is the time of year when people start planning to make some New Year’s Resolutions. If one of yours is to move into a new home, a part of that goal will consist of either buying some new property or selling the currently one that you are in (if not both).
As most of us already know, the real estate market is already challenging enough. Therefore, there have to be some strategies that are put into place so that you can buy or sell a house in the most optimal and efficient way. One of the best ways to do that is to know when it’s considered to be the best and worst times to sell real estate. After all, timing is everything.
The Best Time to Sell and Buy Property
When it comes to the absolutely most ideal time to buy or sell a home, it probably won’t surprise you to know that it’s during the spring. Spring is the time of year when people have things like renewal on their minds. Plus, the temperature is comfortable, the flowers are blooming (which makes for good landscaping) and the market tends to be full of buyers. Plus, if you are looking for a family home, this is the time when a lot of nice-sized houses are for sale as people are matching the sale of their house with the end of the school year (May or June). Another good time to sell a house is during autumn. Although traditionally it’s not as good as springtime, during the months of September and October, you still have a good chance of either selling or purchasing the house of your dreams for similar reasons as springtime. Just make sure to avoid the month of November, which brings us to the worst times to market a home.
The Worst Time to Sell or Buy Property
If you decide to do a random title search on a house, you might notice that a lot of them were not put on the market during the wintertime. If you stop and really think about it, that would make perfect sense, right? After all, who really wants to be walking around checking homes (some of which are vacant and so they don’t have any electricity in them) while it’s cold, wet and snowy outside? This brings us to the final season of weather that also is a really bad time to buy or sell property: summer. Aside from the extreme temperatures that it tends to bring (just as winter does), there are other reasons why it’s not a good time for real estate. The kids are out of school, which means that people are focused on entertaining them. Also, a lot of individuals take vacations during the summer months (which not only means that they are out of town, but their monies are being allotted elsewhere too). So, if you don’t get your house ready by late June, you really should hold off until early September. That way, you can get more prospective buyers. Once they are home from summer break.