What is the best time of the year to sell a home? There is no one size fits all answer to this question. There are pros and cons to selling during each season of the year.
The answer to this question will be influenced by the following three factors:
Market: Mortgage rates, tax incentives, job growth, and other market circumstances influence when is the best time to sell your house. With these factors in mind, the ideal time to list your house can range from April 1 to mid-July,
Location: You have likely heard that spring is the best time to sell your home; however, it really depends on the location of your home. To figure out what is best for your location, you can look analyze seasonal patterns and market data.
Type of Home: It is also important to consider the type of home. Most lake homes are secondary residences; therefore, buyers have different priorities. For example, the view of the lake and quality of the lake may matter more than the local school district.
The best time to sell depends on the market and your location. But, it is also important to consider the type of home and if it will be the individual’s primary or secondary residence.
Why is Fall a Good Time to Sell Your Home?
In Wisconsin, fall can be a great time to sell your home. You can showcase your property surrounded by beautiful fall colors, instead of photos where the trees are bare. Most lake properties are spectacular when the colors change making it a great time to list your home.
More specifically, as the seller, the following factors will also work in your favor:
Less Competition from Sellers: There are fewer homes on the market. There is less competition from other sellers and fewer choices for buyers to choose from. Furthermore, when it comes to lake homes, some buyers choose the lake before they choose a home. Your newly listed property might be snatched by an eager buyer who has been monitoring and waiting!
Attract Eager Buyers Who Want to Close: Buyers who have yet to make a purchase earlier in the year are likely eager to close before the holidays or cold winter months. It safe to say that most people would prefer to cozy up to the fireplace with hot cocoa in their new lake home, rather than move in during the cold temperatures as the snow falls.
Appeal to Proactive Buyers Who are Preparing for Next Year: Buyers who are preparing for next year and want to move in during spring are shopping now. The long hot summer days are fresh in their memory! It is a great time to find your ideal lake home so that you can enjoy it all year long next year. Plus, the buyers then have all winter long to make improvements on the home and save time and money by hiring contractor’s during their slow season.
Showcase Your Property with Spectacular Fall Foliage: The fall foliage makes a great backdrop for your listing photos! The spectacular fall foliage can help your home stand out from the competition and appeal to buyers who picture themselves sitting out on their future deck with a cup of coffee enjoying the view. With lighter leaf cover, you can see the house better from the lake on one of our boat tours.
Save Money: As the seller, wouldn’t it be great to avoid paying for heat all winter long and possibly sell before your next tax bill? If you sell your home in fall, the buyer will take over the heating costs and a portion of the end-of-the-year tax.
In fall, there are still many motivated buyers who have a slimmer selection to choose from. Plus, the spectacular fall foliage is a great way to showcase your property.
What Challenges do Sellers Face in Fall?
To pair with the advantages of selling your home in fall, it is also important to consider the challenges associated with selling your home in fall.
Here are a few challenges to consider:
Even though there is less competition from other sellers, this can make buyers more demanding.
Once the cool temperatures arrive, people tend to settle in for the winter. Cold temperatures and snow tend to keep buyers inside their home and away from shopping.
When fall draws to a close, it becomes more difficult to keep up curb appeal and maintain your landscape after the leaves have fallen, the flowers have disappeared, and the grass has browned.
Even though winter is on the horizon, it is not too late to list your property in fall and hopefully close before the temperature drops and the snow falls!