Spring Isn’t Always the Best Time to Sell a Home

Spring has long been considered the optimal time of year to put a home on the sale market. However, according to a new Redfin study, the other seasons are more than holding their own. Researchers analyzed approximately 7 million homes listed from 2010 through last year to gauge how important the seasons are in listing a residence. They looked at how many went under contract within 30 days and how often they sold for more than the list price. The study found that 39 percent of the properties listed in spring — between March 21 and June 20 — went under contract within 30 days, while 15 percent sold for more than the list price. By comparison, 38 percent of the homes listed during winter — Dec. 21 through March 20 — sold within 30 days and 14 percent changed hands for more than the list price. In the summer — June 21-Sept. 30 — 36 percent of houses listed were under contract within 30 days and 12 percent sold above the list price. Finally, 34 percent of homes listed in autumn — between Sept. 21 and Dec. 20 — went under contract within 30 days and 11 percent sold at a premium. Redfin chief economist Nela Richardson comments, “Over the past five years, prices have increased by an average of 3 percent month over month in the spring and ticked down by about 1 percent each month during the fall. To get the best of both worlds, sellers need be informed on both local buyer demand and recent sale prices in their neighborhoods before deciding when to list their homes and for what price.” | Read More