In Fact, Spring May Not Be the Ideal Time to Put Your House on the Market

Spring is the best time of year to sell a house, but the strategy is not as clear-cut as one might imagine. Redfin reports that houses put on the market in winter in recent years had a nine-percentage-point greater chance of selling within 180 days and at a smaller discount to the initial list price than houses listed in the spring. A 2012 Trulia study, meanwhile, found that while prices on closed sales peak in May and total sales top out in June, there are significant differences geographically. For example, prices tend to crest in most markets in the South in March; but the peak occurs between June and August in Oregon, Illinois, Connecticut, Washington, and West Virginia. A scholarly study published in the Appraisal Journal revealed that local “seasonality factors” subtly affect what buyers pay. The season should influence whether and when sellers decide to list their homes; but other, more personal factors should take higher priority, such as whether the home is ready to list and show. | Read More