6 min read Apr 24, 2024

Is “Now” the Best Time to Sell a House?

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Edited By

Carol Coutinho

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Editor
Edited By

Carol Coutinho

Editor, Houzeo
About

Carol is a versatile content editor and writer, crafting riveting narratives with precision and finesse. When not reading a novel, she is immersed in the enthralling world of the theater.

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Definitely, yes. April is a good time to start prepping your home for sale. Housing demand is at its peak, but inventory is still tight. The median home price is currently at $412,095 and is expected to continue rising in 2024. 

But home prices aren’t the only factor expected to increase. Mortgage rates, though lower than their 7.79% peak in October 2023, are also inching their way up. The current 6.8% mortgage rate favorably treats home shoppers. But it may not do so in a month’s time.

If you want to take advantage of the buyer demand before the mortgage rates spike, list your home on the MLS NOW!

When Is the Best Time to Sell a House?

Selecting the best time to sell a house depends on your goals, whether you want to earn profits or sell your home quickly.

1. Best Month to Sell Your House for a Higher Price

April to July are the best months of the year to sell your house. The median sale price of houses in April 2023 was $408,126 expected to rise in 2024. State like Alabama, Ohio, and Florida experiences higher sale during this period.

2. Best Time to Sell Your House Quickly

Again, April to July are the best months to close your home sale quickly. During these months, homes spend an average of 29-36 days on the market, which is 10-15 days less than the rest of the months.

Fewer days on the market are considered an indicator of a seller’s market. However, people who have to move due to job relocation tend to do it during November and December. Such sellers are usually eager and have strict home-selling timelines.

3. Best Day of the Week to List Your House

Thursday is the best day as 21% of homes across the nation are listed on Thursday and get better exposure. Homes listed at the start of the week had to stay longer on the market.

People searching for houses attend home tours on the weekends. If you want to take advantage of the time game, list your home on Thursday after 5 p.m. This is when most buyers return from work and start looking at online listings.

4. Best Season to Sell Your House

Spring is the primary housing season of the year. If you have time flexibility, listing your home in late spring or early summer can yield quicker sales and higher profits.

These seasons are ideal for three reasons:

  • Families can settle without disrupting their kids’ schooling.
  • Fall and winter are busy seasons, leaving little time for house-hunting.
  • Summer offers longer daylight hours and better weather, which is ideal for scheduling house showings.

But winter still holds an opportunity for a home sale in warmer regions. Buyers visit places like Montana and Vermont to invest in a second home for their holidays.

Best Time of the Year to Sell a House

Spring and the onset of summer are generally the hottest time to sell a house in the USA. Buyers are motivated to move to a new place before the school year starts. Hence, it leads to competition. which then drives up prices.

Check this latest table to find the best and the worst months to sell your house:

MonthAverage Home Sale PriceHouses SoldDays on Market
January$382,836279,47852
February$387,234330,99052
March$400,958450,59744
April$408,127416,16736
May$418,270498,06231
June$425,358525,29929
July$421,890450,38729
August$420,089486,12031
September$412,089423,74533
October$413,609404,43734
November$408,295365,49637
December$402,305358,14843
Source: Redfin.com

When Should You Sell Your House?

Here’s when you can consider selling your home:

When You Need a Change in Life

Sometimes, there are situations that demand a change in your life, such as:

  • Job-Relocation: Say you have received an appealing job offer, but it demands relocation. This situation can force you to sell your house in a slow market.
  • Adverse Neighborhood: You may need a safe neighborhood for your family or a house closer to your kids’ school.
  • Divorce: Homes often hold a sentimental value for couples. But after a divorce, you may consider selling it a practical option.

When Market Conditions Are in Your Favor

Favorable market conditions can get you a top-dollar rate. Some factors that affect the real estate market are:

  • Economy: Economic indicators like manufacturing activity, GDP, employment rate, costs of goods, etc., influence the market. When the national economy is slow, so is the real estate market.
  • Interest Rates: Lower interest rates boost the demand for mortgages. This affects the real estate sector, thus increasing the price of the homes.
  • Government Policies: The government can temporarily create a favorable housing market by implementing tax credits, subsidies, and deductions.

When You Are Financially Prepared

Here are a few factors to know if you are financially ready:

  • Affordability: The average mortgage rate affects the affordability of buyers. Check in advance if the interest rates are surging or are expected to decline.
  • Downgrade Your Expenses: If you own a bigger house and are looking to save on your property taxes, homeowners insurance, and HOA fees, you can sell the bigger house and move into a smaller one.
  • Equity for New House: When your current home has procured enough equity to fulfill a healthy down payment, you can sell it at the right time.

Is Now a Good Time to Sell a House?

Yes, this is the right time to list your home. The summer season will be an excellent time for home sellers.

If you want to sell your house quickly and for higher profits, list it on the MLS. Houses listed on the MLS sell for 17.5% more than those off the MLS.

Houzeo can get your home listed on the MLS for a flat fee. With Houzeo, your listing gets syndicated to the online database of homes for sale. You can also save up to 3% on agent commission.

Eager to Know how Houzeo Works?

We’ve got you covered. Check out the following video to understand how Houzeo works and why it is one of the best For Sale By Owner websites in the U.S.

How to List on MLS With Houzeo?

5 Easy Steps to List on MLS with Houzeo as FSBO

Start Your MLS Listing NOW!

Frequently Asked Questions

Is now a good time to sell a house?

Yes, now is a good time to sell a house. With mortgage rates at 6.8% and rising home prices during spring and summer, you should be ready to sell your house.

What is the best time to sell a house?

June is the best month to sell a house to gain higher profits within fewer days. On the other hand, April is the best month if you want to sell your house in fewer days.

When is the best day to put house on the market?

Thursday is the best day to list on MLS. Houses listed on Thursday are likely to sell faster and also get more than the asking price.

When is the worst time to sell a house?

December and January are considered the worst months to sell a house. In December, houses stay unsold for longer on the market. On the other hand in January, you may have to sell for a low price.

How long does it take to sell a house?

The average time to sell a house is about 40 days. However, factors like house location, market conditions, etc., affect the speed of the home sale.

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