The Best Time to Sell Your House, Based on Real Estate Market Data
It’s summertime and you’ve been thinking about selling the house. The weather is great which makes it easy to show your home, and the kids are out of school to help you pack everything up (or just eat ice cream and watch you do it).
If you’re wondering the best time to sell your house and want to take advantage of the current sellers market, then we’ve got the answers for you below.
When to List to Get the Best Price and Sell the Fastest
Every day real estate surges forward with a new abundance of real estate tech tools. These tools are the building blocks of the future of real estate and help to predict the temperature of the market.
We’ve used one of these tools to give you the best time to sell your house based on cold, hard numbers.
If you need to put your home on the market now, you’re in luck. Nationwide housing market data shows August as the best time to list a house in order to get the highest sale price. August was the best time to list overall from 2014 - 2017. Real estate transactions often take a few months to close, which means that homes listed in August will most likely close in November. Homes that closed in November over 2014 - 2017 sold for 4.04% higher than the national average.
If you want your home to sell quickly, aim for a close date this month or a close date in August. Overall from 2014 - 2017, homes that closed in July and August closed 7 days faster than the National average.
You can also predict the best time to sell your house in your local market by searching your city and state in this tool and state in this tool. For example, the best time to sell a house in Las Vegas is the Summer, aiming for a Fall close date.
Current State of the Market: Sellers Hold the Cards
If getting out while it is good is your goal, then it may be in your best interest to sell your house now. Currently the nation is in a sellers market, which means that the demand for homes exceeds the number of homes on the market. Basically, there are more buyers in need of homes than there are people selling.
The problem is that some people are predicting a cooling of the real estate market in 2018. According to USA Today, home buying may be less accessible in 2018 because of higher interest rates and rising home prices. The National Association of Realtors predicts interest rates around 4.5-4.6% for this year.
If you need to sell, it might be best to list the home now for fear of the market leveling off and a big loss of buyers in 2018.