We are in full winter-mode: I’m talking hot chocolate, snow and Santa. It’s not typically a time most people consider putting their house on the market. Around this time of the year, lots of people say “we want to list our home, but we’re going to wait until spring.” So today we’re diving into the market and answering the question: “when is the best time to sell a house?”
First off, this isn’t a simple question. If I had to give a short answer, it’d be: it depends. A lot of sellers assume that spring and summer are the best times to list a house. The biggest benefit of listing in warm months? There are just more buyers vying homes. This brings up the likelihood that you may get yourself into a multiple-offer situation, driving up the listing price. Buyers are more active in spring because a) moving in the snow is not appealing to many people, b) moving when the kids are out on summer break is appealing and c) houses just have a lot more curb appeal when the sun’s out.
On the other end of the spectrum, a big benefit of selling in winter? There’s less competition and inventory. Since a lot of sellers do gravitate toward listing in the spring, your home will really stand out and might get more attention if you list in the winter because there’s less inventory. There are serious buyers looking for a home year-round. Which brings me to point number two: the buyers who are on the prowl in winter are likely more serious. Yes, there are less buyers looking overall, but the ones who are searching are the real-deal. Less “window-shoppers,” if you will.
One caveat I’d like to mention? “Spring” in Spokane started in February last year. Things started getting really going again in February and by March, we were seeing the amount of inventory turnover that we typically see around May. So if you are considering getting your house on the market right when things get “going,” reach out to your agent in early February so you can start discussions to get on the market by March.
Every market is different and every single seller has his or her own goals for selling a home: whether it’s getting the most money possible, selling ASAP or something else entirely. I recommend chatting with your real estate agent and they will help you decide if you should list now or wait a couple months to be in the best position possible.