Long before you list your home on the market, entertain offers, and finally reach the closing table, home sellers first need to get the timing right to maximize value. However, the value of your house is never set in stone. It evolves over the long term depending on the market, but it also fluctuates from month to month.
All of this is to say that timing is everything when it comes to selling your home. In order to maximize value, you need to know the best time to sell your home. Let’s get started!
Best time of year to sell a house nationwide
Looking at the housing market trends all across the country, most real estate professionals agree that spring and summer are the best time to sell. According to research by the National Association of Realtors, sales in May through August
account for nearly 40% of home sales throughout the course of the entire year, with over 2 million transactions during this time. May and June are usually considered the optimal time to list, as June is often the peak month for buyer activity. The real estate scene is bustling during this time due to the return of tax refunds, summer break from school, extended daylight hours, great weather, and time off from work.
Even more specifically, listing your home late on Thursday or early Friday might give your property the best chance at hitting the top of the list just before the weekend, when most open houses are scheduled.
Best time to sell a house in your area
In the Nashville area, the winter season is relatively mild but sometimes brings storms and snowfall. Because of this, many buyers are hesitant to begin searching for properties in the winter when inclement weather may be on the radar. Thus, the Nashville real estate market is aligned with most other areas of the country, where the spring and summer generate the highest activity in the housing market.
Selling your home?
If you plan on selling your home in the Nashville area, it’s always a good idea to reach out to a real estate professional as soon as possible. Throughout your selling journey, your agent will be an expert guide and can help you navigate through the various steps of the real estate process. They will help you devise an accurate and competitive listing price by comparing your property to similar, recently sold homes in the area. Your agent will also coordinate open houses and communicate with the other party during negotiations. They will utilize innovative marketing tactics to get your home seen and sold, even if you’re selling during a more challenging time. Ultimately, your agent is an irreplaceable resource in ensuring that your home sale achieves success in any market conditions.
A look at selling in each season
While it’s true that the Nashville real estate market peaks in the summer, not all sellers are so lucky to wait until the optimal moment to sell. In fact, most sellers are under a time crunch and might not have the luxury of waiting until the market conditions and seasons align perfectly. So, read on for a closer look at selling in each season.
Selling a house in the spring and summer
The spring season is naturally ideal for showing homes. Curb appeal is at its highest when fresh blooms are out, the grass is green, and the sky is blue. Because demand is exceptionally high during spring and summer, sellers are more likely to receive more (and higher) offers. You’ll likely see many families out touring homes with their children.
The downside of selling in the “peak season” is that the market is flooded with inventory, so buyers have many options. This means that you need to expertly market your property to stand out above all the rest.
Selling a house in the fall and winter
During fall, real estate activity often begins to taper off. During the “slow season” of November through February, the number of transactions is just 68% of the total sales
seen during the peak season nationwide. With the weather cooling off and becoming more dreary, buyers aren’t as motivated on the whole. That said, if you do list in winter, your home has a better chance of standing out from the crowd. You might happen to catch a stray buyer who is extremely interested in closing.
How to know if it’s the right time for you
Personal life circumstances are always a major calculation when deciding when to sell your home, regardless of the season. Below, we’ll cover a few other considerations to keep in mind.
Your lifestyle demands a move
If you’re at a turning point in your life, selling your home might take on a heightened sense of urgency. Perhaps you need to move for a job or personal reasons. Perhaps your child needs to move to a new school district. Speak with your loved ones and determine if selling your home now is the time.
Home improvements are complete
Many people find that their current home just isn’t living up to their expectations. The neighborhood may not be right, or there could be a recurring issue with utilities or other features. Remember that you’ll probably have to finish any necessary repairs on your home before selling it. With the upgrades complete, your home is ready to make a grand entrance on the Nashville real estate stage.
You’re financially ready
Perhaps the costs of upkeep on your current home are just too high. Maybe your home has too large of a footprint for your current needs, or perhaps family members moved out, and it’s time to find a new abode. Downsizing is often a great reason to sell. On the flip side, maybe you got a promotion at work, leaving you with more room in your finances to purchase a more spacious property.
The bottom line
At the end of the day, your personal needs and lifestyle should determine the best time to sell your home. Seasonal changes in the market are significant factors, but getting the timing right involves an insightful look at your unique situation.
If you are ready to move forward, reach out to a local Nashville real estate
agent for the guidance you can count on. Esteemed agent Debbie Gregory
is highly versed in selling homes, no matter the season or the reason. Reach out today.*Header photo courtesy of Debbie Gregory