Often times my Austin clients ask me when the best time to sell a house is. This is a complex question with no one size fits all answer. The best time to sell your house depends on your needs. Some homeowners may not even have the luxury of asking when the best time to sell the house is. For example, if you are relocating for work and need to sell your house in order to purchase a new home, your options are much more limited.
That being said, there are certain times of year where home owners tend to sell for the most money. If you live in a family-oriented neighborhood with great schools, you likely want to consider selling your house in the summer which means listing your home for sale in the early spring. In Austin and elsewhere, families are often searching for homes in the spring. The home buying process from finding the right house, to getting an accepted offer, and financing can take a few months. People with children usually prefer to move in the early summer and not disrupt the kiddos during school year.
If you are wondering when the best time to sell your Austin condo is, you will find vastly different patterns. I recently looked at the price fluctuations for condo sales located in downtown Austin near the University of Texas during 2016. Interestingly, I found that downtown Austin condos sold for the most amount of money in November. Alternatively, the best time to buy a condo in this area of Austin last year appeared in mid-March. I would hypothesize that these trends are similarly due to a correspondence with school calendars. Many investors and parents want to purchase these properties to rent to UT students. While you can get a great value in March, many students leave town for the summer break, and it will be more difficult to rent the condo.
Another important component to consider when you are wondering if now is time to sell your house is inventory. Traditionally, at least in family-friendly Austin neighborhoods, we see more homeowners selling their properties in the spring. This is often due to one or both of the items noted earlier. The seller believes he/she will be able to sell the home for a higher amount in the spring, and/or the homeowner wants to move the family when it is convenient.
Thus, often times there are less homes for sale during the non-peak selling seasons. When there simply are not any homes like yours on the market, you may want to consider selling your home. Determining the best time to sell your Austin area home requires a comprehensive understanding of the Austin area real estate market. Take a look at my video below in which my past client, Brittney explains her experience selling her Austin area home.
Take a look at my seller page if you think now may be the time to sell your Austin area home. You can learn more about the exceptional service I deliver to all my Austin clients. Alternatively, give me a call today and we can discuss your unique situation. Erika 512-779-7597.
Erika Rae Albert
Sharing my Austin real estate updates, home owner tips, & more.