Whether in the middle of a pandemic or not, it is only natural as a homeowner to wonder when is the best time to put your home on the market. After all, if you are doing to sell your house, you want to put yourself in the best position to maximize your profit while also getting the home sold as quickly as possible. While there are no hard and fast rules that will guarantee the ideal time to put a home on the market, there are a few general guidelines that will help you to determine when may be the best time to sell your house.
The seasons certainly affect the best time to sell your home in most parts of the United States. In many parts of the country, the summer is the best time because it is warm and the kids are out of school, making it a good time to transition from one school to another. In parts of the country with very hot summers, however, winter or spring may be a better time of the year to put the house on the market because no one wants to move everything from one house and into the other in super hot temperatures.
Of course, in Hawaii, temperatures are comfortable throughout the entire year. Therefore, seasons typically do not play as big of a role in determining the best time to put the house on the market. The school calendar is still a factor to take into consideration. In addition, tourist season tends to boom during the winter months as people escape to the islands for more pleasant temperatures. Therefore, depending upon the type of property you intend to sell and where it is located, this may be a factor to consider when determining the best time to sell.
Ideally, you will want to put your home on the market when it is a sellers’ market rather than a buyers’ market. A market is referred to as a sellers’ market when the demand for housing exceeds the amount of inventory that is available. In other words, if there are not enough homes available for purchase to meet the demand, you can command a much higher price for your home. You can also expect the home to sell relatively quickly. In a buyers’ market, on the other hand, the amount of homes available is greater than the demand for homes, which means buyers can take their time to browse through their options and be pickier about what they buy. They also have more room to negotiate for a lower buying price.
In order to maximize your profit and sell your home quickly, you want to put it up for sale while conditions are right for a seller’s market. Of course, you may not have the option to wait out market fluctuations. But, if you do, it might be worth your time to wait a bit until the conditions are right.