Are you looking to sell your home in 2023 and wondering if right now is the best time of the year to list your property for sale? During the pandemic’s peak, we’ve witnessed a drastic change in the real estate market’s seasonal patterns. The demand for properties was so high that virtually any time was a great time to list your property for sale. Now, the housing market is settling down, and the timing is, once again, becoming an essential consideration for anyone looking to sell

Certain trends and patterns, however, normally do persist throughout the year. One of them is that selling your property in late spring and early summer can net you a higher price versus the slowest months of the year, October, November, and December. 

Don’t take this as gospel, though. First, it’s essential to note that, besides seasonality, the best time to list and sell a home is influenced by other factors, such as interest rates, location, market conditions, personal situation, etc. In other words, the circumstances must be right. 

But let’s take it from the beginning! In today’s article, we talk about the fine art of timing your sale.

How long does it take to list a home?

An average home seller spends roughly seven months contemplating the decision to sell before listing. Moreover, they normally make at least a couple of home repairs and necessary preparations for listing. Once they finally list, U.S. homes take 55-70 days to sell, which includes an average of 25 days on the market and another 30- to 45 days in the closing period.

Best months to list your property for sale? 

According to the stats, March is the best time of the year to list your property for sale. However, spring is overall a great time to sell. If you think about it, it’s a pretty upbeat time of the year. The gardens are in bloom, adding to your home’s curb appeal. The light is excellent, so the interiors appear nice and airy. The buyers are more prepared to go house hunting in mild weather. Finally, there’s the school catchment. Families always look to time their purchase, so they’ll be nice and settled in their new digs by the time the new school year starts in September. And according to experts at Centennial Moving, it’s a fantastic time of year for motivated buyers to focus on moving.

All in all, the properties look their best, and the buyers are most active. So naturally, this has a knock-on effect on prices, meaning you could get even more for your property.

The wisdom in avoiding the ‘off-season’

If you were to list your property during a quiet time, you’d be robbed of a fantastic opportunity. Why is this so? 

4-6 weeks of coming to the market – that’s the timeframe when a property receives the most intense interest, and the most competitive bidding happens. During this period, the buyers still perceive your property as ‘fresh’ and desirable. However, once this window passes, a property becomes typically ‘old news,’ and the home buyers tend to get a bit suspicious, assuming there’s something wrong with the property. So, say you come to market in August, for instance. When most buyers return to the market, your home will look aged. As a result, they will stay away.

If forced to list your home for sale during the off-season – please don’t worry! You just need to recognize that you may be at a disadvantage and act accordingly (setting the right price, enlisting an experienced broker, etc.)

The wisdom in avoiding the ‘peak-season’

But, of course, there is a flip side to taking the approach of conventional wisdom. 

The peak season may not be the best time of the year to list your property for sale because many sellers take this approach. So, spring is also when you anticipate being up against the most significant number of competing home sellers. The buyers are pickier, meaning they are less motivated to do a deal. However, this does not mean that your sale cannot be successful during the peak months. It means you must make your property look competitive and price it right. That brings us to our next point.

Are the local housing conditions right? 

If you haven’t done your due diligence, now’s the time to start. Ideally, many buyers will be actively looking to buy, and fewer competing sellers looking to sell. That positively affects your possible sale price because there are more chances for bidding wars and forcing out the best offers.

With supply constraints and moderate buyer demand, the real estate market is still favorable for home sellers. However, what used to be a sizzling market is now cooling down. Of course, time will tell. But the current slower market pace suggests that sellers be mindful. There are indicators that the market may slowly shift slightly in favor of buyers. Especially with borrowing rates on the rise, savvy sellers may want to capitalize on favorable conditions. 

Stack the odds in your favor

Pick the most suitable estate broker for the job

Consider hiring a real estate broker for the most detailed insight and outcome. Make sure not to rush anything, though. You don’t want a broker who sent you a postcard or one who’s too scared to tell you the state of your local market. Instead, you need someone you can trust. So, ask the people you trust for recommendations, check out the reviews, and then start interviewing candidates. 

Price your house competitively 

Your property is not worth what you – or your broker, for that matter – think it’s worth. Instead, it is worth what a buyer is willing to pay. Usually, all house buyers set a budget. Then, they compare all the homes they can afford that look interesting. Finally, they make an offer on the one that provides the most value for the asking price. In other words, the competitive properties determine your asking price. So, be sure to check your comparables.

Put extra effort into the presentation

You want to show your property in its best light. So, spruce it up a bit. Make it clean and tidy, neutralize colors and odors, and fix whatever’s not in working order – you know all this! A couple of weekends work, and you’ll certainly achieve a better price.

Sell when you’re ready

Ultimately, the best time of the year to list your property for sale is whenever you feel ready. All kinds of personal factors play a role in this situation, including lifestyle changes, emotional preparedness, and financial benefits. Therefore, don’t feel like you need to rush things. Instead, carefully consider the critical factors discussed above, weigh your options, and seek the advice of a professional if required. Best of luck!