Times are changing and you’re thinking about moving the family into a new home. But before you start searching for your next dream home, you’ll need to figure out when you’re going to sell your existing home. The decision is a complex one, especially considering the unpredictable economic environment you’re living in. And while there’s no magic formula for determining the best time to sell a home, there are several factors you should consider.

Overview of the home selling process

The home selling process is a multi-step journey that begins with collaborating with a real estate agent to determine your home's value and preparing it for sale. Once your property is ready, your agent will list it on the market. Marketing efforts, including showings and open houses, help attract potential buyers. When you receive offers, negotiations take place, and contingencies are addressed. After mutual agreement, the closing process begins, which involves finalizing paperwork and transferring ownership.  

The wrong time to sell

This likely won’t come as a big surprise: you should avoid selling your home during the winter holiday season. Tensions run high during the holidays and budgets run low. The result? No one’s really itching to buy, and offers that do come in are often low. So as a general rule of thumb, avoid the months of December and January when selling a home.

The best season for selling

Conventional wisdom dictates that spring is the best time to sell a home. In spring, the holidays have past, the new school year is still a while away, and gardens and other outdoor spaces tend to look their best. And while spring is the season that sees the largest amount of buyers, it’s also the season when inventories are highest. This means lots of competition, so if you’re going to sell in spring, you really need to get your property to stand out with effective marketing and staging.

The best day for selling

According to research, Thursday is the best day of the week to list your home for sale. By listing your home for sale on a Thursday, you can make it available immediately for weekend showings. Come Saturday – the busiest day for real estate – your home will have only been on sale for two days, which is great for attracting full-price offers. In general, the shorter amount of time your home remains on the market, the higher the offer you’ll receive.

Staging tips and tricks

To stage your home effectively, focus on decluttering and depersonalizing, highlighting key features, using a neutral color palette, arranging furniture thoughtfully, optimizing lighting, enhancing curb appeal, adding tasteful accessories, minimizing personal photos, addressing repairs, and ensuring your home is clean and inviting. These strategies will create an appealing and welcoming environment for potential buyers.

Tips for showings

When preparing for showings, it's essential to ensure a smooth process. During showings, it's a good practice for sellers to leave the home to allow potential buyers to explore without feeling rushed. Make your home as welcoming as possible by decluttering, enhancing curb appeal, and keeping the space clean and well-lit. These considerations help create a positive and inviting atmosphere that can leave a lasting impression on potential buyers.

Frequently asked questions

How do I determine the right listing price for my home?

Your real estate agent will conduct a comparative market analysis (CMA) to assess your home's value based on recent sales of similar properties in your area.

Do I need to make repairs or renovations before selling my home?

It depends on your home's condition. Some minor repairs and improvements can enhance your home's appeal and value, but your agent can advise you on which updates are worth the investment.

Should I stage my home for showings?

Staging can help make your home more appealing to potential buyers. Your agent can provide guidance on staging or recommend professional stagers if necessary.

How long does it typically take to sell a home?

The time to sell a home varies depending on factors like location, market conditions, and the property's condition. Your agent can provide a market-specific estimate.

How do negotiations work in a home sale?   

When an offer is made, you can either accept, reject, or counter it. Your agent will guide you through the negotiation process to achieve favorable terms.

What is a home inspection, and why is it important?

A home inspection assesses your home's condition and identifies potential issues. It's crucial for both you and the buyer to understand the property's condition and address any necessary repairs.

When do I have to move out of my home after it's sold?    

The timing for moving out is typically specified in the purchase agreement. Your agent will ensure you have a clear timeline for the transition.