In this post, we’ll take a look at some of the best and worst times – based on seasonal and other factors – to sell a home, focusing specifically on the California area The Malakai Sparks Group serves. The first thing you should know is that deciding exactly when to put your California home on the market represents one of the most important decisions you’ll make during the selling process; by choosing the right time, you’ll get the most amount of money for your property and sell it the quickest.
So if market timing is one of the most important factors to consider when selling your home, what else is there? Your listing price and real estate agent are definitely the next most important factors, but always keep in mind: Timing the market just right means your house will sell quicker and at a higher price.
In order to time the market for the ideal sale – particularly when we’re talking about super-competitive Southern California – it’s best to work with a trusted real estate agency like The Malakai Sparks Group. Not only will we know the best time to list your home, we are knowledgeable about the best asking prices and which repairs will yield the most bang for your buck.
From a national perspective, the ideal month to put your home on the market is on a Saturday during the first half of May. According to Zillow, homes listed during this time frame sell for an average of $1600 more than other times of the year; Saturday listings show higher views during the first week of the listing, but, honestly, this should come as no surprise – most people have more time on the weekend to spend searching through listings and visiting open houses.
Now, when it comes to Southern California, timing differs slightly from these national figures, and can even differ based on the specific city within the area. When we’re talking about the greater Los Angeles area, for example, the best time frame to list a home is May 16 through 31, with the best day to list being Thursday. Why? Well, on average, this results in an $8K higher sales price with the home selling more than nine days faster.
Of course, there are other factors that can affect the best time to sell your home in Southern California, such as high mortgage interest rates, which can influence how much buyers can offer you for your home. The local job market or home buyer tax incentives may also affect the market, so what we often tell clients in this regard is if they get wind of a large employer moving into the area (such as a big tech organization), it would be a good time to list.
You can always trust The Malakai Sparks Group’s expertise in these areas.
Let’s now dive into the nitty gritty concerning the best and worst times to sell your home.
Top Best and Worst Times to Sell – and the Factors Involved
What is the best time of year to sell a home? It’s a question we hear constantly – and for good reason. While in many markets that time is the spring season, this doesn’t always ring true for areas of the country like Phoenix, Florida, Texas and, you guessed it, Southern California. This is because the weather gets intense in these areas, encompassing everything from triple-digit heat to hurricanes and tornadoes, so the bottom line is that the best time to list a home depends on your situation and location.
Is profit your number one concern? If you’re not in a rush to move your home quickly, you have the luxury of timing the listing or your property during those months that have the greatest potential for a financial windfall.
Malakai Sparks Group Fun Fact: It can take up to three months to sell your California home, so when planning the best month to close, you’ll need to list between one and three months in advance to take full advantage (this is dependent on the state of your local market).
Selling for profit during July can net you up to a 4.51-percent higher closing price on average, while selling during January – considered the worst month in terms of profit – can result in a 5.89-percent lower sales price.
The best months to sell for profit include:
The worst months to sell for profit include:
Now, we understand that sometimes it’s not about money and profits, and that life circumstances often dictate that you’ll need to sell your home fast. In studying actual data, the experts at The Malakai Sparks Group have uncovered which months are the best to sell your California home quickly, regardless of what those aforementioned life circumstances may be – a job transfer, death in the family, changing personal needs and other major life events, all of which may require you to move swiftly.
Oftentimes, the one thing holding a home seller back is the sale of their existing home, because the money needed to purchase another is contingent on that sale. According to data compiled by our team from the MLS, homes that sold in May moved an average of 6.14 days faster than average (as we alluded to in an earlier section), with those that sold in January taking a painstakingly slow time to sell – coming in at over 21 days longer on the market than the average.
The best months to sell fast include:
The worst months to sell fast include:
Our hope is that you have found this post informational and beneficial, because we know how emotional and sometimes stressful selling a home can be. Knowing what to expect and what the best times of year to sell can help you remain calm and in control throughout the entire situation.