Many clients ask me the common question, “When is the best time to put my house on the market?” I always tell them the same answer, spring time. A lot of people have heard this before, but do not know the exact reasons why. Well, let me explain to you why selling your house during this season will provide you with the best results.
The climate change is the most obvious factor that drives the Real Estate market. Not only does the start of spring bring people out of hibernation mode, but it encourages them to focus on their landscaping as well. Curb appeal can really impact the sale of your home. After all, it is the first impression to a potential buyer when they walk up to your house. The winter months do not showcase the landscaping that decorates the front of your home, therefore rendering it useless to increase the value of your property. This is especially true with Vancouver Real Estate where the winter consists of mostly rain and snow. So, if you want to take full advantage of the spring, spend some time in the garden and create that “welcome home” image to potential buyers.
The end of the school year is a big factor for those with children. As the school year winds down in May, families that are deciding to move will be out in full force for a new home. People avoid moving in the middle of a school year because they would rather not disrupt their child’s studies with school changes and the added stress. Also, with a purchase of a house in April or May, the date of possession usually takes place in June or July. That is the time of year where people feel the most relaxed, therefore making a move less stressful and allowing them to make the change before taking a long awaited summer vacation.
Supply and Demand
There are buyers looking for new homes at all times of the year, but as mentioned previously, sellers who are waiting for the end of the school year to sell, keep the winter market cold. With low inventory, buyers looking to buy, casually shop through the winter, but know that there will be an influx of new listings once the spring comes along. This causes an increase in demand during the spring months, which sellers can take advantage of. This increase of buyers, paired with nicer weather and longer days makes the spring an ideal time to put your house on the market.
No matter when you decide to sell your house, whether in the heat of summer or the cold of winter, keep in mind that with proper staging and an effective sales plan, you will be able to sell it quickly and at the right price. If you’d like more information on selling your home or the Vancouver Real Estate market, please feel free to contact me at Elliot@bryantandlasko.com.