If you’re looking to take advantage of the red-hot seller’s market, you may be wondering, “when should I sell my home?” The answer is spring! The era of historically low interest rates is coming to an end, meaning buyers won’t be as eager to jump the gun as rates continue to rise. So, if you’re looking to cash in on current market conditions, this spring is the perfect time to do so before interest rates rise too much and the market swings back in favor of buyers.
Benefits of Spring Selling
Selling in the spring comes with some pretty awesome benefits for sellers, including:
Sell for More
Spring has long been considered the best time of the year to sell homes, for many reasons, including the fact that you’ll be most likely to maximize the selling price and make the most money — especially during spring 2022’s market conditions, home sales are expected to reach a 16-year high.
According to reports, most sellers who list their homes in May can expect them to sell 18.5 days faster than any other month and for nearly six percent more money. The report notes that April or June have even better home sales in some areas of the country than May.
Trudging through a snow-covered driveway overlooking a dead garden and brown grass isn’t exactly appealing. But, in the spring, the flowers come out, the grass turns greener and the birds start chirping — making for a much more visually appealing process. If you want to present your home in the best (sun) light possible, spring is an excellent season for selling, especially if you have a pool, water fountain, garden, outdoor kitchen, or any other feature that is meant for the warmer months.
As the weather warms up, you can expect to see more buyers in the market. Many homebuyers start their search during the spring because they know the selection will be better and they can schedule the move around their children’s school schedules.
Better Moving Weather
Who wants to lug heavy boxes and move into a cold and unfurnished home during freezing temps? Not us! Spring offers more comfortable moving weather — not too cold and not too hot. Spring temperatures are perfect for an enjoyable move.
Disadvantages of Spring Selling
But, similar to spring weather, spring selling is not all rainbows and butterflies — there are some downfalls too, including:
Higher Moving Company Rates
Unfortunately, the secret of spring selling is not unknown. Movers are looking to cash in on the busy season as well, and many may even hike their rates due to increased competition, which can also make it harder for you to nail down a moving date where all required parties are available. Try to book your spring move ASAP to ensure you get a spot on the mover’s calendar before it fills up.
If you list your house in the dead of winter, you may be able to capitalize on low inventory. But, in the spring, the market becomes more saturated, meaning potential buyers have many more options. This is why it’s important to make sure your house stands out, from beautiful landscaping, fresh flowers, an updated kitchen, etc.
School Is in Session
Moving with kids can be challenging, especially if they’re in school. If you end up selling your home in the spring, you’ll have a lot more to plan logistically with the kids’ schedules. This can disrupt your kids’ learning and their social activities and routines. If you’re worried about disrupting your kids’ school year to move, we recommend moving at the tail-end of spring to early summer.
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Are you ready to list your home and take advantage of the favorable spring conditions and the seller's market? Not sure if it's time just yet? Contact us today we'll figure it out together.