The myth about when to sell your home - Steve Arrington - Remax Traditions

The myth about when to sell your home

The myth about when to sell your home

A common question I get is “Steve when is the best time of year to sell a house”…which typically is followed up by a statement that goes like…”I know this probably isn’t the best time”, thinking that there is a magical window of time during a specific time of year that houses just fly off the shelf like a new electronic gadget, and if we don’t hit it just right, the place will sit for eternity.  It would seem that everyone has an opinion as to when that is. This is what I typically hear: “Well nothing sells nothing during the winter; Spring is the only time because the garden looks best; We want to wait until school is out, or we need to get it done before school starts.

Most people are of the opinion that spring is not only the best but it is the only time that real estate sells.  This is a myth and is simply not the case.  If we look at the results from each quarter of each year the numbers suggest that there simply isn’t a better time of year to sell. If you have something to sell. someone will buy it regardless of the time of year.

According to local sources Ires and Metrolist the quarterly results have been pretty consistent going back 15-20 year.  The best quarter of the year is usually a toss up between the third quarter and the second quarter and not far behind are the first and fourth quarters.

So the best answer to the question when is the best time to sell? Is when it is best for you.

2015: Q1
Residential Attached Income Lease Commercial Land Farm/Ranch Total
Units Sold 225 57 3 0 3 2 0 290
% Dif Prev Yr 24% 54% -50% N/A 0% -60% N/A
Sales Volume $72,668,683 $13,533,516 $1,573,700 $0 $2,261,500 $332,000 $0 $90,369,399
% Dif Prev Yr 33% 85% -52% N/A 41% -75% N/A
Median Price $299,376 $220,000 $478,200 $0 $489,000 $166,000 $0
% Dif Prev Yr 15% 22% 86% N/A 9% -8% N/A
2015: Q2
Residential Attached Income Lease Commercial Land Farm/Ranch Total
Units Sold 350 100 11 0 6 8 0 475
% Dif Prev Yr -1% 30% 22% N/A 100% 300% N/A
YTD 575 157 14 0 9 10 0 765
YTD % Dif Prev Yr 8% 38% -7% N/A 50% 43% N/A
Sales Volume $120,229,368 $24,045,630 $3,813,250 $0 $2,901,500 $1,288,500 $0 $152,278,248
% Dif Prev Yr 11% 48% 8% N/A 93% 92% N/A
YTD $192,898,051 $37,579,146 $5,386,950 $0 $5,163,000 $1,620,500 $0 $242,647,647
YTD % Dif Prev Yr 19% 59% -21% N/A 66% -19% N/A
Median Price $315,000 $227,450 $342,250 $0 $386,750 $119,250 $0
% Dif Prev Yr 14% 18% 33% N/A 38% -64% N/A
2015: Q3
Residential Attached Income Lease Commercial Land Farm/Ranch Total
Units Sold 367 94 11 2 4 3 0 481
% Dif Prev Yr 18% 18% 22% N/A -43% 0% N/A
YTD 942 251 25 2 13 13 0 1246
YTD % Dif Prev Yr 11% 29% 4% N/A 0% 30% N/A
Sales Volume $128,564,854 $22,334,671 $3,595,589 $26 $2,092,000 $915,631 $0 $157,502,771
% Dif Prev Yr 32% 36% 41% N/A -55% 53% N/A
YTD $321,462,905 $59,913,817 $8,982,539 $26 $7,255,000 $2,536,131 $0 $400,150,418
YTD % Dif Prev Yr 24% 50% -4% N/A -6% -2% N/A
Median Price $321,000 $229,750 $297,589 $13 $317,500 $255,752 $0
% Dif Prev Yr 18% 21% 2% N/A -36% 194% N/A
2015: Q4
Residential Attached Income Lease Commercial Land Farm/Ranch Total
Units Sold 280 54 8 0 3 11 0 356
% Dif Prev Yr 12% -28% 33% -100% -50% 450% N/A
YTD 1222 305 33 2 16 24 0 1602
YTD % Dif Prev Yr 12% 13% 10% 100% -16% 100% N/A
Sales Volume $96,587,544 $15,079,607 $2,719,500 $0 $2,110,000 $1,427,500 $0 $117,924,151
% Dif Prev Yr 28% -13% 60% -100% -17% 1085% N/A
YTD $418,050,449 $74,993,424 $11,702,039 $26 $9,365,000 $3,963,631 $0 $518,074,569
YTD % Dif Prev Yr 25% 31% 6% 333% -9% 46% N/A
Median Price $300,000 $252,250 $275,750 $0 $525,000 $150,000 $0
% Dif Prev Yr 9% 18% -2% -100% 44% 149% N/A