The spring months are often considered the best month to sell a house. In fact, across the country, the first two weeks of May tend to be the busiest and most lucrative time for sellers. Spring has warmer weather, longer days, and lush gardening opportunities that increase outdoor appeal. Spring is usually when most home sales activity begins, but home sales actually increase in the summer months.
However, real estate is all about location, and where you live can have an impact on your home's peak sales season. Returning to the national level, real estate market activity, that is, the number of active listings and sales, is cyclical, peaking at the end of spring and reaching its annual low by the end of the year. As you can see above, the total volume of pending sales, which is a good indicator of buyer demand, soared reliably in May. So will publishing in late spring always be the best option? Not necessarily.
Many consider the summer months to be peak real estate season, and for good reason. The uptick in buyers that sellers see in spring is in overdrive when the long summer days arrive. The months of May, June and August are the most common, since they represent 40% of the annual volume of real estate sales. Home buying fervor tends to peak in June, says NAR.
Winter is usually the cheapest time of year to buy a home. Salespeople are often motivated, which automatically translates into an advantage for you. Most people suspend their ads from Thanksgiving to the New Year because they assume that shoppers are scarce. Sellers who list at that time usually want to sell as soon as possible.
They may even be more willing to offer additional benefits, such as appliances and window treatments. If you're interested in selling your Norfolk home quickly, the month of May is perhaps the best time to do so. The best time to buy a home is when you feel secure about your finances and personal goals because there is a lot of excitement when searching for a home. If your reason for selling is relatively flexible, for example, if you're looking for a larger house or a more convenient neighborhood, it might be worth trying to schedule your sale; however, it's not worth losing, for example, a great job opportunity or postponing an important goal in life, such as retirement.
The average time it takes to sell a home in Virginia is 73 days, 38 days to receive an offer and an additional 35 days to close. There's also the buyer mentality that anyone who wants to sell a house during the winter must be really desperate. Given how highly Virginians value their homes, it would be difficult to find someone willing to spend December trying to buy or sell a home. Determining the “right time” to sell your house is subjective, as it really depends on your specific goals and circumstances.
Read on to learn more about the time it takes to sell a home in Virginia and get some professional tips on how to accelerate your sale, get better deals, and save thousands of dollars in the process. Winter can also mean that you have to browse looking for houses and open days in an unideal climate, depending on where you live in the country. Don't abandon homes that have languished on the market during the spring and summer sales seasons. A buyer's market usually lasts between two and three years, when there are more homes for sale than there are house hunters.
According to Donnell Williams, president of the National Association of Realtors, there may not be a bad time to sell your home in today's environment of historically low mortgage rates and a limited supply of housing. .
