In most areas, spring marks the beginning of the busiest home-selling and home-buying season.
Warmer weather, more daylight, and the desire to get settled into a new house before the next school year begins makes buyers more likely to shop during this season.
Heartland Iowa Realty recommends potential sellers consider the pros and cons to help get the best outcome for your sale!
Pro: Bigger sale price
More inventory means lower prices, but the housing market works the opposite way. Prices are highest in the prime season, when the most homes are listed.
There are more buyers in spring and summer because it is the most convenient time for most people to move. So relative to demand, the supply of homes is actually tighter in spring and summer than in fall and winter.
Pro: Better valuations
When your house is being valued, the appraiser will look into data for comparable homes sold in your neighborhood. If the most recent data is from a home that sold for cheap in the winter, it can hurt your valuation.
Pro: Homes look better, and days are longer
Spring is when properties shine. The flowers are in bloom and buyers are out! Daylight Saving Time also gives buyers more time to look at houses.
Con: Buyers are pickier
With more houses on the market, buyers can afford a bigger wish list. If your home needs repairs, buyers might simply pass. Buyers also aren’t shopping under pressure as they might be during the off-season.
Pro: Bidding wars
Bidding wars are a headache for buyers, but a big plus for sellers! You want to put your home on the market pretty near when inventory is at a high. There’s an increased chance for multiple offers.
Additionally, cash buyers are some of the more aggressive bidders, so you might find a buyer with a fistful of dollars with a fast lane to closing day.