The flowers are blooming, the birds are singing, and the homes are selling: it must be spring! The peak home-selling season for most of the country typically falls from March to May. This is when the inventory of homes for sale tends to be at its highest, and the buyer pool tends to be at its largest. With the weather warming up, and the school year coming to an end, many home buyers are ready to make a big purchase and a fresh start in a new abode.
So, is spring a good time to sell your home? It depends on a number of considerations. Keep in mind that while the buyer pool is certainly larger, so is the competition. In addition, you’ll need to find a new house for yourself – and home prices may be higher during the spring months. If you’re wondering whether spring is really an ideal time to list your home, read our pros and cons list below.
Is spring a good time to sell your home? Here are the pros and cons.
Pros
- You may be able to sell your house for more money – Generally speaking, spring is the best time to sell your home for a number of reasons – the most important of which is that you’re likely to maximize the selling price and make the most money on your home sale during the spring months. For instance, The Mortgage Reports claims that most Americans who sell their home during May can expect to sell it “18.5 days faster than any other month and for 5.9 percent more money.” The site also notes that in some areas of the country April or June are even better for home sales than May.
- There are more potential buyers in the spring – Once the weather warms up, expect to see an influx of buyers in your market. Many homebuyers – particularly families – begin their homebuying search during the spring months. This is typically because a) there are more homes on the market; b) the tail-end of spring and beginning summer months are a convenient time to move with school-age children; c) the weather is better and more conducive to moving.
- Curb appeal is at an all-time high – Selling your home during the spring is one of the best ways to attract buyers and maximize your selling price simply because the home is sure to look its best. Come springtime, your home’s curb appeal is kicked up a notch – thanks to the warm sunshine, blooming flowers, green grass, and leafy trees. So, if you’re looking to list your home when it’s looking its best, then spring is certainly the time to do it.
- It’s better weather for moving – Another pro to selling a home in the spring is that you won’t have to fight snow, ice, and bitter cold temps when moving to a new home. You also won’t have to worry about overheating. Springtime temperatures are usually just right for moving and make for an enjoyable warm weather relocation. If you prefer to beat the cold and the heat, then spring may be the right time to list your home.
Cons
- Moving company rates are higher – Uh oh – watch out for higher moving company rates in the springtime. More people moving typically means more demand for movers and higher prices for the consumer. Since spring and summer are the most popular times to move, you can bet that movers will be slightly more expensive than usual. It may also be harder to pin down a moving date during these months, as their calendars get booked quickly.
- There’s more competition – Don’t be surprised when you spot an abundance of “for sale” signs popping up around town. Given that spring is the most popular time to list a home, you could end up with a saturated market and more competition from other sellers. This means you’ll need to find ways to make your house stand out from the pack. Whether it’s a beautifully re-landscaped yard or an updated kitchen, there are plenty of ways to increase your home’s appeal before listing it.
- School may still be in session – Moving with kids is never easy – but moving with kids during the school year is even more challenging. If you do end up selling your home and moving in the spring, then you’ll have to plan all logistics around their school and after-school activity schedules. Not only can this be disruptive to your child’s learning, but it may also mean changing schools during the school year (if you plan to move to a home in a different school zone). If you’re worried about moving during the school year, we recommend listing at the very end of spring or the beginning of summer.
Bottom Line
Listing your home for sale is a personal decision with many factors to consider. Sometimes you simply have to sell your home when it works for you – even if it means missing out on peak home-selling season’s large buyer pool and high selling prices. However, if spring happens to be a convenient time for you to list your home, then we recommend doing so in order to maximize your selling price.
