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You may be surprised to hear that there are good and bad times to sell your house. Every savvy real estate agent knows that your choice of listing date can be the difference between closing your sale within the average timeline for a sale or waiting a few weeks (or months) more.
So, when is the best time to sell your house? We’ll cover all the details you need to know in this post.
The Best Month To Sell Your House
According to data from various sources, June is the best month to sell your house because properties listed during this month have the least Days on Market (DOM) on average. Homes listed in June stay on the market for an average of 43 days. This is 19 days lower than the national average DOM of 63 days.
Additionally, listing your house in June means you can sell your house for up to 10% more than the listing price.
Why is June such a good month to sell your home? First, the school year has ended, so home shoppers can focus on finding their ideal home. Secondly, many families thinking of moving out start shopping early because they want to find a place and move in quickly before the kids start school.
Additionally, the weather is great during the spring season. Home buyers are more open to taking the time to find a house that appeals to them.
If you can’t sell your home in June, you can list a month earlier in May or during the peak summer months of July and August. They are the next best months to sell your house.
The Worst Time To Sell Your House
Now you know the answer to “When is the best time to sell your house?”, but when is the worst time to sell your house? The worst month to sell your house is January. This is because it’s the complete opposite of what you’ll get in June.
In January, people are shaking off the end-of-holidays blues, settling back into work, and setting new goals for the year. The children are also back in school. As a result, there’s less buyer demand for new homes.
Listing your home in January could see the property stay up to 86 days on the market. You may also end up knocking off up to 10% of your original asking price.
Unsurprisingly, February is the next worst month to sell your house. Houses listed in February can stay on the market for up to 84 days on average, and you can lose up to 7% of the property’s market value.
Sell Your House Faster With a Cash Buyer
Now you know the answer to “When is the best time to sell your house?” Don’t want to wait to sell your home? Do you need to sell an abandoned home quickly? Call Wise Property Buyers at (313) 513-8824 for a quick closing.