I’m often asked “when is the right time to sell a home?” With the right representation, every day is a great day to sell. However historically the spring months have been the best time to sell a home. More homes sell during spring than any other time of the year. A perfect indicator of this is the continual trend of homes that close escrow in the summer. This means buyers were shopping in the spring. Below are the top 5 reasons why spring is the best time to sell a home.
1. The majority of companies relocate their employees during spring
The first reason Spring is the best time to sell a home is because of relocation companies. Many large companies relocate their employees during the spring. This means that employees and their families are looking to buy a home. Therefore preparing your home before the prime season, assures your home will be a great prospect in the spring. Additionally, families with children want to move before the school year starts which brings me to number two.
2. Many families want to move in spring before the start of a new school year
The second reason spring is the best time to sell a home is the school schedules. Moving to a new neighborhood and a new school can be a very stressful time for children. Likewise moving in the middle of the school year results in falling behind in lessons, homework, and making friends. Many parents are aware of the difficulties that moving in the middle of the school year adds to their children’s lives, not to mention the difficulty of additional paperwork the school administrative requires after the school year has begun. Families coupled with relocation employees brings me to the third reason spring is the best time of year to sell a home.
3. Bidding Wars, Higher Values & Highest Possible Price
When your house is listed for sale in a sellers market, meaning that there is less inventory than there are buyers, this calls for bidding wars. Bidding wars are not uncommon during the spring season because as I mentioned before, it is the priority of many families to be settled into their new home before they start their new job or before the kids go back to school. When a seller receives multiple offers they have the benefit of choosing the offer with the best terms.
Depending on the individual family’s needs, sometimes the seller considers the best term as being a cash offer, of course the highest price, including a rent back if the sellers need to find another home to buyer before they sell, or maybe the best term includes purchasing the home “as is” rather than having to make repairs as selling a home customarily requires. Typically the seller will at the very least get the highest value of their home when multiple offers are presented. This is also the case for other homes for sale in the neighborhood, ensuring the appraisal will come in at the preferred value of the home in turn creating a recipe for a smooth transaction.
4. Better Weather
Regardless of where you live, the weather is normally warmer in the spring compared to the winter or fall, thus making spring an easier time to move. In San Diego we typically have ideal temperature year round, but we do occasionally experience extreme whether changes which begin early September with peak highs and with the end of October reaching much lower temperatures. This year, San Diego’s city council declares a local state of emergency for the city of San Diego as they anticipate a 95% chance of El Niño soaking the city of San Diego and the rest of Southern California through the spring 2016. If you didn’t sell a home this spring, it doesn’t mean there aren’t still home buyers looking, and that there aren’t other advantages of selling your home today. For more details regarding the current real estate market contact me today.
5. Daylight Savings
Daylight savings time in the spring allows more time for buyers to look at properties. Additionally, after many years of declining real estate values, we are now experiencing a stronger market and higher prices. This has led to low inventory levels which is favoring the sellers as buyers don’t have as many property options to choose from as in the past. Another contributing factor to lower inventory levels is the decrease in bank owned properties or short sales. Although most experts are not predicting prices to enjoy double digit appreciation like the early 2000’s, the consensus is that the market is rebounding. After years of decline in home values, we are now experiencing an upswing in the market.
About the author of The Right Time to Sell a Home:
The above Real Estate information on When is the right time to sell a home? was provided by James Jam. The #1 Individual Berkshire Hathaway HomeServices Real Estate Agent in San Diego County.
I service Real Estate sales in the following San Diego County areas: Carlsbad 92008, Carlsbad 92009, La Costa Carlsbad 92009, La Costa Valley 92009, La Costa Oaks 92009, Carlsbad 92010, Carlsbad 92011, Encinitas 92024, Olivenhain 92024, Rancho Santa Fe 92067, Rancho Santa Fe 92127, La Jolla 92037, Lake Hodges Escondido 92029, Elfin Forest 92029, Solana Beach 92075, Del Mar 92075, Cardiff by the Sea 92007, Del Mar 92014, and Carmel Valley 92130.