With a new year on the horizon, many people are thinking about how they will make 2022 their best year yet. If one of your resolutions is buying or selling a home, you might be wondering: When is the best time to execute? Ideal timing depends on several factors, many of which are personal to your situation. Here we take a look at the best time of year to buy or sell a home and why, so you can plan ahead.
When to sell
In most locations, the best month to list a home is during the first two weeks of May. According to statistics from The Mortgage Reports, sellers can expect to have a buyer lined up 18.5 days faster than any other month and sell their home for 5.9% more money. This is because curb appeal improves as landscaping blooms and because May is ahead of the summer rush.
When to buy
Spring and summer tend to be popular times to buy homes due to more daylight for viewings and plenty of time to get school-aged kids settled in a new home. However, if you’re looking for the best deal and a quick buying process, winter is actually the time to house hunt. Sellers and real estate agents are motivated to complete closings during these months with limited buyers.
Location, location, location
The most advantageous time to buy or sell a home can vary by area. It’s best to partner with a real estate agent who knows your area to ensure you don’t miss the mark. Gateway Realty has been a trusted real estate partner in the Great Plains region for over 50 years. We know the ins and outs of the area and can help you maximize profits when selling or find the best deal when purchasing. Contact us today to get the process started!