By Jesse McCarl
As a real estate agent, you hear time and time again – starting before you even have your license – that the spring season is the best time of year to sell a property. You’ve probably conveyed this idea to your clients. That’s why we have to publish stories about how fall and winter are still good times to sell – just to keep the market from stalling out entirely!
Well… a new study indicates that conventional wisdom about success in the springtime isn’t as straightforward as we’ve believed.
Sure, spring months have plenty of active buyers and sellers. Business probably appears to be booming for you as an agent. But those months are actually some of the worst times for your customers.
This new survey was conducted by SmartZip and Inman Select. It looked at seller statistics over the last five years with a focus on days on the market and final versus asking price ratio. First, they published the following infographic to show the worst month (by state) to sell your real estate:
Following that, they released a look at the best months to sell a home. These are the months with the shortest time on the market and the best offers.
So why the stark difference to what we’ve come to expect in the industry?
Usually, the spring marketplace is full with buyers and sellers, so buyer demand is negated by a steady supply of options to buy. When buyers have more homes to choose from, homes can stay on the market for longer and end up selling for less.
The infographics also show that certain markets benefit at certain times. Warmer states have an advantage in the fall and winter months. Sellers seem to grow stagnant when there’s snow on the ground outside your open house.
Nationwide, the worst times to sell a house are around March. The national peak is in October.