If you were to conduct a poll and ask people the best time to sell a house, most people would say Spring or Summer.
Their opinion would have some validity as overall buyer demand and activity are higher in the warmer months.
However, when you take a closer look at the statistics, you’ll see that late November through February is a “sweet spot” when there is the lowest “months supply of inventory” on the market.
Fewer months supply of inventory means that, in theory, all of the homes currently on the market should be absorbed by the market, or sold, in a shorter time frame than when the months supply of inventory is greater.
For example, if there are 18 homes on the market in your neighborhood and three homes are sold per month on average, your neighborhood has six months supply of inventory.
Six months supply of inventory is considered a balanced market. More than six months supply is a buyer’s market. Fewer than six months supply, which is how our market has been for years with more demand than available inventory is a seller’s market.
The months of November through February are the months with the least amount of homes on the market, meaning selling your home in the “slower months” means you will face less competition among other listings.
Listing your home in the Winter also means you are likely to encounter more serious buyers and fewer “tire kickers” because no one wants to spend their time looking at homes during the holidays and cold winter months unless they are serious about purchasing a home.
At the end of the day, the decision to sell your home comes down to motivation. There is never truly a bad time to sell if the timing is right for you and your family and if your Realtor® knows how to approach the market.
For a current market analysis and to decide if now is the right time to sell your home, reach out to me or one of my associates at Skyecroft Realty Group in Waxhaw, NC.
We are licensed in North Carolina and South Carolina and would love to help simplify the home buying and selling process for you!