When it comes to seasons of the year, no bad time for selling your home exists. However, the market tends to pick up in the warmer months. Many families prefer to hunt for homes at this time of the year as the children begin long breaks from classes and can accompany parents.
Not surprisingly, many people do not like to move in the colder months. They might also shy away from moving during the rainy periods of fall. That makes the warmer months the most competitive season for selling a home.
The busy season for real estate
Forbes estimates that the busiest season for home sellers last from May to June. This short period accounts for 40% of home sales. Of the two months, June showed the highest sales rates. Not surprisingly, it reported the lowest figures for the cold, rainy periods of November to February.
Variations do exist, however. For instance, ski locations in Pennsylvania often see an uptick in sales during the fall and winter months, when all other markets see declines.
The median sales price and seller profit
Bankrate also discussed the best and worst times to sell a home. June out-shadowed all other months. It showed a median sales price of $200,000. Only July came close with a median sales price of $199,000. Similarly, the seller premium came in at 9.2% for June. No other month made it upward of 7.4%, which May earned. The July profits came in at 7.4%. Bankrate also identified November to January as the least profitable months to purchase a home.
When selling a home, not everyone can enjoy the luxury of biding time. Some people might need to sell to avoid falling behind on payments as economic situations change, such as during retirement. However, for those who can wait, the spring and summer months seem to provide the best opportunities for profitable sales.