It’s one of those questions each seller wonders as they consider putting their house on the market: What’s the best month of the year to sell? I have definitely heard agents talk about the spring selling season or snowbird season as being great times to sell. And, in my experience, those are the busier times in our market. But, what does that really mean for sellers? Is it really better to sell during those peak months? Let’s see!
Here is a graph of closed sales over time within our MLS. It clearly shows a pattern with the lowest amount of sales occuring in January and the highest in March-June. This repeats itself over the past 13 years, which is the farthest back the data I have goes. So maybe telling sellers to hold off until those busy months is good advice?
In this graph you can see price per square foot over that same time period. There doesn’t appear to be a pattern annually, but rather an increase over time. That is to say, you don’t necessarily get a lower price per square foot in January compared to May. Sales price and number of total sales appear to be much more tied to what’s going on in the overall market rather than what month of the year it is. So, it looks like you don’t need to wait until May to get a higher sales price, but, will your house sell quicker during those months?
As this graph of the average days on market shows, you might sell your home quicker during the peak selling season compared to January. This pattern repeats throughout all the years that the data is available. However, this number fluctuates much more year to year than month to month, again, depending on what the overall economy and housing market is doing. So, in January, 2022 you may have had to wait 25 days to sell your house compared to 17 days that May. But this January you would have waited 47 days compared to 40 in May.
All in all, I think there is no better or worse time to sell your home than what works for your situation. If you really need to move in December, there may be fewer buyers looking, but there will also be less competition. Homes sell year round and for good reason! People need places to live and are always looking! If you’re wondering about the best strategy for your next move, just let me know!