Timing is everything when it comes to buy or sell a home in the Washington, D.C. area.
Knowing when buyers are most serious, when there are the most buyers, even understanding the habits of buyers can greatly affect your home-selling transaction and overall experience. Placing your home on the market when the market is a “seller’s market”, or when there are the most buyers, can yield much higher home sale prices.
Statistically speaking, the best month to sell your home in the D.C. area is June—if you’re looking to get the most money. Data from the Mid-Atlantic multiple listing service (MRIS) showed that home prices in June were an average of 6.6% higher than the 2015 median sale price, while prices in January were 6.5% lower than median sale prices in 2015—resulting in a gain of about $29,000 over median in June and a loss of about $25,000 in January. However, though June is the best month, April, May, July, and August were also top home-selling months.
Why Are Spring and Summer So Great for Sellers?
School’s out, the weather is nice, spring vacations are over, and the family-oriented months of November and December are far away. Now is the perfect time for buyers to start looking. Flowers are blooming, grass is green, and houses are looking truly magnificent. The kids are out of school and it’s the least-stressful time to move. It’s the season of change, and many buyers are looking for it! Interest is high, especially for those considering D.C. area communities with an easy commute.
What’s Really the Best Time to Sell?
There’s no right or wrong time to sell your home. People are always relocating, changing, and searching for homes. And while it is ideal to sell during a month you’re statistically the most likely to get the most out of your investment, there are advantages to selling during the “off-season” months as well. Those home-buyers trekking out in the snow to tour are typically more serious buyers, and because many sellers wait for the rush of spring-fever home buying, competition is typically very low in the winter. This means that, though you might not be seeing the same financial return, you just might be seeing a faster turnaround time.
The Bottom Line for Washington, D.C. Sellers
If you’re selling a home in one of the communities of the Washington, D.C. area, there’s no right or wrong time to sell. Regardless of what month you choose to list your home, working with a professional and expert Realtor can help you get the best selling price in the shortest amount of time. Learn more about the seller services I offer, then contact me to get started.