Selling real estate is somewhat of an art form and science. Neither one alone will do the magic, but a combination of the two can do wonders. Not everyone has the luxury of timing their home’s sale or even when the property goes on the market, but for those who can, there is some data to consider. There is the timing of listing the property as we’ll cover below and there is seasonality in the Phoenix market which I covered before.
Now, Redfin has added some more useful data to the mix, that is when you should or at least should consider,listing your home for sale: winter, spring, summer or fall. There is a reason why most homes sell in the early summer, so besides timing the market, timing seasonality there is coordinating your life with the sale of a home and also considerations like where you’re moving to.
This won’t make anything easier, but the more you know the better decisions you can make about your home sale and or possible purchase. Really, that is our ultimate goal: to provide solid information so you can make the best decision for you.
If you look at the Phoenix home sales by seasons, you’ll notice that sales peak around July, a time when kids are off school and moving is made easier without the burden of transferring schools. There are other reasons for this, but school being off is an important one.
That is also the season when inventory is high so high demand is negated by high supply. TheRedfin data shows when you may be able to get more money in your pocket. This data shows that, as would be expected, more listings are added in the spring. Considering it takes, right now, on average 143 days to sell, that brings us into summer for a closing. In the winter there are less listing listed thus less competition.
Less competition means, maybe more searious buyers, it means – based on this data – up to 9.3% shorter time on the market which is roughly a sales time shorter by 2 weeks.
More importantly it looks like the sale price is better compared to the list price versus the other seasons.
So sell faster, sell for more if you list in the Winter.
How the nitty and gritty thoughts. What if you’re selling and buying? What if you’re getting transferred for a job? There are many other things to consider that may easily outweigh the benefits of selling 2 weeks sooner and getting a few more thousands of dollar. Also, what market does your home target. Vacation homes have different patterns then family homes, condos attract different buyers then single family homes and each of these changes the mix.