The process of buying or selling a home can be confusing, but it doesn’t have to be. The most basic questions must be answered first and one of these is “When is the best time of the year to buy or sell a home?”
We’ve all seen the advertisements saying “Numbers have been seasonally adjusted” and this may be true for real estate. Real estate they say is seasonal so there must be a perfect month to buy and a perfect month to sell, right?
To answer this we should first consider the when most people actually list their home for sale and that is January, the start of the year. As for the buyers they usually start off March-May when spring thaw. So, this means that the market is most active and at its peak during the months of February-March. This is when most people are listing and buying. And with this in mind we then ask when is the best prices available then? And the interesting answer is that there is not really any clear evidence that there’s a seasonal affect on prices. Most studies show that it is inconclusive and that it is difficult to see any pattern or trend when it comes to real estate market. We also have to consider that there are a lot more factors that affect prices.
The only thing that’s certain is that when you’re a buyer you will have more choices during the months of January-March with far lesser buyers and more inventory. And if you’re a seller and you list your home in the high volume months like May-June, you might get more activity and may sell your home faster. This doesn’t necessarily mean you might get more money, but you might sell your house faster.
The most important thing to consider if you’re buying or selling a house is not to base it on a calendar. Make your decision based on your personal situation and what’s best for you. You will never be able to time the market. So when is the right time to buy or sell? If your family is growing, or perhaps it’s shrinking; If you need to move for a new job or any other reasons then it’s the right time. The time to buy is when the time is right for you. If it’s the right time in your life then it’s the right time.
If you are planning to buy or sell a home, let The Incorvaia Team make the process as easy as possible for you. Call us at 440-879-7130 today!