It’s no secret that real estate markets regularly go through ups and downs within a year, making it difficult for potential home sellers to decide when to put their properties up for sale. When it comes to this, however, experts agree on this general “rule”: the best time to sell is “early in the year”.
Certain seasons make for better home sales than others. For instance, autumn might not be the peak housing season, but it rarely experiences market slowdowns. Winter may be considered a slow season, but there is a good number of buyers looking for a great deal in the cold season. Spring is often heralded as the “kickoff” season for real estate sales. Summer, on the other hand, is considered a bad season as people are more inclined to go on vacations, but many buyers also look to move in the summer so their children would not have to change schools in the middle of the year.
When it comes to specific months, the spread between March and April tends to offer the best returns, as homes sell about 15 percent faster than average. For more “personal” signs, it makes good sense to sell your home if you’ve amassed enough equity (at least 20 percent for your next purchase), since putting a down payment of 20 percent or more can save you hundreds of dollars in private mortgage insurance each year.