Spring is traditionally considered the best season to list a home, but it doesn't inch out the other seasons by much, according to a new analysis by the real estate brokerage Redfin.
Redfin's research team analyzed 7 million homes listed from 2010 through 2014 to gauge how important the season is in listing a home. It examined how many of the homes went under contract within 30 days and how often they sold for more than their list price.
Here's how the seasons stacked up:
- 39% of the homes listed in the spring (between March 21 and June 20) in the past five years went under contract within 30 days, and 15 percent sold for more than the list price.
- 38% of homes listed in the winter (Dec. 21 – March 20) sold within 30 days and 14 percent sold for more than the list price.
- 36% of homes listed in the summer (June 21 – Sept. 20) were under contract within 30 days and 12 percent sold above the list price.
- 34% of homes listed in the fall (Sept. 21 – Dec. 20) went under contract within 30 days and 11 percent sold at a premium.
Over the past five years prices have increased by an average of 3% month over month in the spring and ticked down by about 1% each month during the fall. To get the best of both worlds, sellers need be informed on both local buyer demand and recent sale prices in their neighborhoods before deciding when to list their homes and for what price. There doesn't appear to be a huge advantage or disadvantage to listing in any season, since the variance in prices is only by a few percentage points.
Source: "Should I Wait Until Spring to List My Home? Not Necessarily," Redfin Research Center (Feb. 5, 2015)
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