Depending on your perspective, summer is arguably the best (and worst) time of the year to sell a home. But few would argue it’s the busiest. In fact, according to the National Association of Realtors (NAR), the most popular home-selling months are May, June, July, and August. The average number of transactions during this four-month period is 2.1 million, which accounts for 40 percent of total annual sales volume. Among these four months, June is typically the peak month of home selling activity. So, if you’re considering listing your house during the Dog Days, consider the following list of pros and cons we hope will help you decide:
- Warm weather
Which makes for well-attended open houses.
- School is out of session.
So, people are generally more open to the idea of relocating.
- Opportunity to Show Off in the Sun.
Just make sure you clean all of your windows inside and out, mow and edge the lawn at least two times each week, water daily and prune overgrown trees and foliage. Make the most of the season by bringing the outdoors in. Cut fresh flowers and display for maximum visual appeal and fragrant scent.
- The days are longer, so there’s more time for showings.
Of course, this could also be included in the plus column, depending on how intense your motivation is relative to your desire to make sure everything is spic and span.
- Most homes earn better appraisal evaluations during peak sales times.
Since summer is the on-season for appraisers, lenders, escrow agencies and house hunters, appraisers tend to value properties higher than they would during off-peak times. What’s more, with more homes on the market, your appraiser may be able to find more suitable comps than when the pickings are slim.
- Of course all of the above leads to more competition for homes.
So, just weigh that against what you will gain by listing right alongside your neighbors.
- Everything heats up.
If your A/C is on the fritz or your house features a wall unit or whole-house fan instead of central air, the heat could discourage buyers. To guard against this, open plenty of windows and turn on every ceiling fan in sight.
- Lots of people go out of town.
Buyers may not be considering a move while they’re actively booking, packing, anticipating and enjoying their vacations.
- With kids home, many parents are too busy taking care of their families to go house-hunting.
To compensate, offer more flexible show times. Then, prospects may swing by your house on their way back from the beach or a picnic rather than delaying a tour because of their hectic summer schedules.
- If you don’t position your house to stand out among the crowd, it could get lost in the shuffle.
To avoid this, maximize curb appeal and stage your home to sell. When competition is stiff, details matter more than ever.
It only takes one buyer to sell your home. Since you can’t possibly know in advance when that perfect prospect will be in the market, you might as well list the house, condo or townhome at a time that makes the most sense to you.Besides, certain universal rules apply whenever you decide to sell:
- Location Matters
- Kitchens & Bathrooms Sell Homes
- Make sure the price is right.
About Exact Escrow in La Verne, California
If you plan to downsize (or upsize), buy a home, or refinance your mortgage loan, please consider using Exact Escrow Inc. We are a full-service independent escrow company dedicated to exceeding our client’s every expectation. Our goal at Exact Escrow Inc. is to make sure even your most complicated transaction closes smoothly and efficiently. Call today to speak directly to an escrow officer (909) 542-1062.