Selling in Summer: The Pros and Cons
The best time to sell a home is whenever you can find a buyer, but certain seasons are more inviting to sellers than others. Summer, for instance, offers a strong market with many reasons to sell. But there are drawbacks, as well. Weighing these before your yard dons a For Sale sign saves you time and frustration. It also offers the potential to increase your profits.
The Pros of Selling During the Summer
One of the biggest draws to selling during the summer is that the market is saturated with buyers. Per Pop Sugar, much of this has to do with school; families who are relocating want to find a place and settle in before the school year begins. But this isn’t the only factor.
Summer offers warm weather, weather that is much more inviting to home shoppers than blizzards or downpours. The days are longer, too – with more light comes more opportunity for showings. This is particularly important for attracting the many busy people who can’t look at homes during 9-5 hours.
Another upside is that homes sell at higher prices during summer months. According to Realtor.com, an increase in demand helps drive up prices. Summer also brings about a sense of urgency: people want to close before the season ends and they’re willing to pay more to make that happen.
Homes are appraised at higher values during the summer months, another factor that allows homes to sell at inflated prices. Part of the reason for this is visual appeal. From well-kept landscaping to a brand new deck, many aspects of a house shine under the sunlight.
The Cons of Selling During the Summer
Of course, selling in the summer comes with downfalls, too. For one thing, the competition is stiffer: there’s more inventory. This leaves you not only fighting other sellers, but also fighting for your realtor’s attention, too. Agents are busy and one-on-one time isn’t readily available.
You may accrue higher expenses during the summer months, expenses that allow you to keep your home show-ready. Air conditioning bills, proper lighting, and landscaping are areas where your focus must lie. And little things – cracks in your foundation, old windows, broken sprinkler heads – are noticed more often by potential buyers who use the warm weather to thoroughly vet your property.
Lastly, buyers tend to be more particular, and the extra inventory allows them this luxury. This is most prevalent as summer begins; it starts to wane as autumn nears and the urgency discussed above sets in.
Tips for Selling in Summer
To sell or no to sell is a personal decision and it’s up to you when to put your house on the market. But if you decide that summer is the most ideal time, there are ways to help your home reach its potential.
HGTV recommends highlighting your outdoor areas, adding security lighting, playing up your pool (if you have one), and paying special attention to lawn and gardening. For showings, you should set the thermostat at a comfortable level and offer refreshments. Encourage people to linger and perhaps they’ll decide they want to buy.
If you’re relocating to the Seattle area, get in touch with us. We can help no matter the season.
Feature photo courtesy of Pixabay under Creative Commons 0 license
13 Oct 17
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