When working with real estate, one of the more complex questions that Real Estate Agents are asked is, "What is the best time to sell a house?" This query might refer to the time of year you're choosing to sell, the day of the week you list, or the most favorable month. Some agents think specific months are more significant than others, while others believe the day you list the home means more. Still, others say the other factors of selling a home are more important than when to list it.
The time of year you sell your Charleston real estate can significantly impact how quickly it sells and whether you get top dollar. If you list your home at the wrong time, it's likely to sit on the market longer and get less traction, making it seem unappealing and deterring buyers. There are several other things to consider, like the home's location, market conditions, personal expectations, and current interest rates. Continue reading for insights from The Living Well Group on timing the sale of your home.
When is the Best Season to Sell a Home?
The real estate market tends to slow significantly during certain times of the year, which is why the best time to sell a house tends to vary. Looking at national trends, the peak timing for most sales is in the spring and summer months. Specifically, the months of May and June tend to do significantly well because that's when activities pick up and people are looking for housing. Data shows that homes listed in May receive up to 10% or more above market value, according to ATTOM Data Solutions. Additionally, homes sold in June and July also paid higher premiums than those listed during other months. This is usually because the weather is warmer, families are looking to move before the new school year, and schedules are more flexible during the summer. This is no different for South Carolina; spring and summer months sell houses faster than others.
However, given that South Carolina is a southern state and tends to have milder weather during the fall and winter, those seasons are okay timeframes to sell your home. Charleston homes for sale in the fall are less negatively impacted than those listed in December and January. When you have moderate weather throughout the year, it's easier to understand that people won't be as likely to stay home due to snow and ice. The National Association of REALTORS® (NAR) also shows fewer discrepancies in peak and slow seasons in the southern and western states. It's also important to consider how long it typically takes a home to close, which is close to three months. Knowing this means you can plan when to list your home accordingly. For example, if you list a home in April or May, and it sits for an average of 18-25 days, it will close in July or August, just before school starts.
If you want to take it a step further, list your home on a Wednesday or a Thursday for the best sales opportunities. The consensus among Real Estate Agent is that listing a home for sale during the week provides considerable time for it to gain traction. This means that the listing has had time to post and go live and plenty of opportunity for viewings the following weekend. Since most people have spare time on weekends when they can look at homes, Wednesday or Thursday is the perfect time to list your home for sale.
When is the Worst Time to Sell a Home?
If the spring and summer months are the best time to sell your home, it might make sense that fall and winter will be the worst. However, that's only sometimes the case, especially in southern states like South Carolina.
There are certain things to consider about these months, like children being in school, the holidays, and the weather is at least moderately cooler. You also have to consider daylight savings time, which means there’s less daylight and less late afternoon foot traffic. While the difference is not as significant as elsewhere in the nation, home prices drop in the winter months. If you have an opportunity to hold off and list your home in the warmer months, you'll get more money and likely sell your house far quicker than in the winter months.
Quick Tips
While the time of year you list and sell your home makes a significant difference, plenty of other tips will help you sell your home quickly while also maximizing profits. Consider the following two key tips:
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Prepare your house for the market. Ensure that any repairs, whether minor or significant, have been completed. Additionally, do a deep cleaning, paint where needed, improve the curb appeal, and work with a professional stager. Plan accordingly so that these tasks are done in the months before you list your home.
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Hire an outstanding Real Estate Agent. This will be your best asset when selling your home and planning the right marketing strategy. An agent will know the region's specifics and help you achieve your desired goals. Agents are networked and possess the necessary tools to ensure a smooth transaction with your best interests at heart.
When you're ready to list your home, or if you're interested in seeing Charleston luxury real estate for sale, contact Charlsi Kelley and Sarah Kozlik. They are happy to help with all of your needs throughout the journey and experts in Charleston real estate.
*Header photo courtesy of Charlsi Kelley
