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What is the Best Time to Sell Your Home in 2024?

Posted by lexiz on April 22, 2024
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In 2023, around 4.09 million pre-existing residential homes were sold. While that number may seem extraordinary, it is the lowest home sales volume since 1995. Between high mortgage rates, too few houses being built, Wall Street investors buying up properties, and the rising expense of insurance, many homeowners are pushing pause on putting their residences on the market.

Like any other market sector, a low supply of quality products drives up prices. That is why you see housing prices hit an all-time high in December of 2023 and continue to rise in 85% of all U.S. cities.

What does this mean for anyone hoping to sell a home? This increased demand means you can get way more value for your current real estate than ever before. There are a few caveats, though.

First, you’ll need to have a plan for where you want to live next. Apartments and future home purchases are equally expensive. Be sure you have a signed lease or a new home under contract before you sell your home.

Second, you’ll need to have good comparable properties in your area to get the most value. These are homes that were recently on the market with equal or better values based on the same number of rooms, bathrooms, or square footage as your property.

Great, Now When DO I sell?

Historically, April 14-20th is the best time of the year to sell your home. A fantastic and comprehensive study completed by Realtor.com showed that homeowners could get as much as $34,000 in additional value out of their property when selling during this time period.

However, spring is generally your best bet for selling your property. Many buyers are out on the market looking for fresh change and are likely to consider your property as part of the mix.

Selling in spring provides you with a wealth of benefits like:

  • Higher Home Prices: Most spring home prices are high. This is because many buyers and sellers want to “change things up” in their personal lives and move before the start of a new school year.
  • Increased Demand: Talk to any real estate agent right now, and they’ll tell you the number of inquiries for new properties to sell and buyers interested in looking is higher during the spring.
  • Fast Transactions: As demand goes up, the time between purchasing a home and actually owning it to move in shrinks. That increase in speed cools during the summer until it expands in Fall and Winter.

These benefits may seem fantastic, but you want to do what works best for your unique property. Different homes have better selling times. For example, you can get the most from your property if you are selling a vacation home or condominium to out-of-towners from Thanksgiving to Easter because it is still warm in many southern areas.

What is the Most Important Factor to Remember to Sell a Home?

As you prepare to put your house on the market, you want to find a trustworthy real estate agent and prepare your family for the “big move.” If there is one piece of advice you must follow to get the most value in your property, it is to have it market-ready.

This preparation could involve:

  • Doing a deep clean of your property.
  • Storing away extra items makes the property seem less cluttered.
  • Making any strategic upgrades like new windows, flooring, or paint.
  • Enhancing the curb appeal.
  • Hiring a home inspector to get ahead of any caveats in the final contract.

One final little trick is to bake some cookies right before prospective buyers visit. It is a proven method that real estate agents use to make the property seem more attractive and welcoming.

Wrapping Up

Whenever you sell your home, just be sure to take your time. In the rush to get as much value out of your property as possible, you could miss an important feature, date, or stipulation that will lead to headaches down the road.

Talk to your agent and do your best to have a new residence up and running before the transition. Sell in spring and bring home the financial bacon so you have plenty of cash to invest in new ventures after meeting any tax obligations.

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