When is the best time of year to sell your home?
There’s a lot to consider if you’re trying to time the market just right. First, you’ll need to identify the specific time period or month in which the largest number of transactions have historically occurred.
Here in Arizona, sales activity is at its highest between May and July. For the remainder of the year, activity tends to lose a little momentum and we see an average of 5,000 to 7,000 home sales each month through fall and winter. In comparison, our spring market brings anywhere from 8,000 to as many 14,000 sales per month.
From a selling standpoint, you’ll also want to know what kind of competition you’re up against (i.e., the level of inventory). During those high-activity months, a larger number of homes come on the market and more homes will mean more competition, but it also means more buyers will be shopping around.
The bottom line is every part of the year motivates buyers and sellers to enter the market, whether in droves or not, and a well-priced, well-marketed home will sell in a relatively short amount of time no matter the time of year.
When it comes to selling your home, it’s not about pinpointing the best time in the market; rather, it’s about pinpointing the best time in your life.
If you have any questions about buying or selling a home, please don’t hesitate to give me a call or send me an email. I’d be happy to schedule you for a free consultation, and I look forward to hearing from you!