When is the Best Time Of Year To Sell?
Homes sell all year long even though real estate here in Michigan is somewhat seasonal. We are typically slower October through January, and the busiest months are March through June. There are advantages and disadvantages to buying and selling in each.
Listing in slower months can give sellers an advantage because there are fewer homes on the market competing for the same buyer. Less competition can mean a shorter market time and a better offer for the seller. We wrote extensively about the right time to sell here.
How the School Year Affects Your Market
If you’re selling a small condo that will appeal to singles or downsizers, you shouldn’t be affected by the school year at all. However, if you’re selling a large, four-bedroom home, chances are you will. You’ll still sell, but it might take a bit longer. It seems relocation companies almost always move employees mid-year.
If you have children in school and want to move when the school year is over, you might be surprised to find that you should contact an agent in January.
How long the sale process takes
The average sale process in my area takes about five months; higher price points take longer. The average timeline looks something like this:
- 30 days to prepare the house
- 45 days until an offer is accepted
- 50 days to close the mortgage
125 days goes by unbelievably fast.
**This is extremely general, depending on location, condition, and price**
You should consult with your agent when you first entertain the idea of moving. Six months to a year is not too early! A great agent is your advocate, not pushy and will help you evaluate both the temperature and timing of the market in your area.
HAVE QUESTIONS ABOUT THE BEST TIME TO SELL?
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