This is a question I get almost every day as a real estate professional. Throughout my career, I’ve sold hundreds of millions of dollars in homes, and I’ve figured out the best ways to position a seller’s property no matter what the season. Yet, this question keeps coming up. It’s worth a deeper analysis.
Spring and Fall Markets
If you ask most real estate brokers and agents, they will tell you that the best times of year to sell are the “spring market” and the “early fall market.” We’re talking sometime in mid-February through May and then late August through October here in Southern California. In markets where the seasons are more prominent (like in New York, for example), you will typically see a significant slow-down in the winter months. The preferred selling range may be late spring through the summer and into early fall before weather turns ugly.
We don’t have those concerns with weather in Los Angeles. “The best time to sell” tends to have a little less meaning here where the sun is shining almost every day of the year. Some agents will tell you never to list your house for sale in December because of the holidays. However, I always find that to be among my busiest times of year in local real estate. Plus, it’s a great opportunity to decorate your home with a holiday theme to make it even more attractive for buyers.
There Are Always Home Buyers
The simple fact is that there are always buyers on the market every single day of the year. Getting the best return on your investment isn’t a matter of “when” you sell. It is a matter of “how” you position your property in the current market. It’s true that there are usually fewer listings on the market during the winter market. Smart home sellers can use these low inventory periods to their advantage. There is still plenty of buyer demand, but less competition in terms of comparable houses for sale. This will give you negotiating leverage.
Preparing and Presenting Your Property
No matter when you list your home, you can position it to sell quickly and for top dollar. This is done through strategic preparation and presentation of the property. Making repairs and upgrades can be good investments to boost the home’s resale value. Home staging, marketing and the guidance of an experienced real estate professional can present your house in its best light. This attracts more qualified buyers and better offers. The point is that you can get the most out of your home sale any time of year if you take the time to do things right!
How and When to Sell Your Home in a Seller’s Market
Of course, you also have to watch the market trends. The best times to sell are when these four factors are happening concurrently:
- High Home Prices
- Low Inventory
- High Buyer Demand
- Low Mortgage Rates
When you see these four things happening at the same time, it really does create a perfect storm that we in the real estate industry simply call a “seller’s market.” It’s no secret that we’ve been in a seller’s market for at least a couple years now throughout Southern California. The pandemic created a real estate frenzy like nothing we’ve seen in a long time. We essentially lost the spring market in 2020 with everything pretty much shut down. That led to pent-up buyer demand while inventory remained tight. Meanwhile, we had historic low interest rates and steadily rising home prices.
This extreme seller’s market has continued into 2021, though we are seeing mortgage rates on the rise and a bit more of a leveling out between supply and demand. The best time to sell may be right now. It will continue to be a strong seller’s market for awhile, but it’s hard to say what the future brings as we slowly return to normal and the economy recovers.
Take the Time to Do it Right
Getting back to my previous point about doing things right and preparing your home for sale, this is where many of today’s sellers are making major mistakes. They see the hot seller’s market conditions and rush to get their property on the market. They end up selling too quickly or settling for a less-than-ideal price after not getting the offers they hoped. They didn’t take the time to prepare or present their homes strategically and they missed out on the best possible selling results.
Even in the hottest of seller’s market, you need to prepare and do what it takes to get your house ready, price it properly and market it effectively. This is how you figure out the best time sell your home for maximum profit in any type of market—any time of year!
If you are planning to sell your home this year, it pays to start preparing now. Contact The Durkovic Group to schedule a no-obligation listing consultation and see if we are the right team to help you make the most of your home sale.