Seasonal trends, market conditions and simple strategies to help maximize your home’s sale price.

When selling a house, you don’t always have flexibility in choosing when, but when you do, timing your listing may help sell your home faster for a higher price. Let’s take a look at some of the factors that influence home sales.

When is peak selling season?

Homes sell year-round, and in Michigan the best time for sellers is spring. May, June and July command the highest prices and spend the fewest number of days on market—just 17 to 18 on average, according to data from Houzeo. Two drivers of spring and summer home sales are families that want to settle into their new home before school starts and buyers of vacation homes who want to take advantage of warm weather.

The number of homes sold remains robust in August through October, but average selling prices decrease slightly and the average days on market increase to 24. In January and February, homes take the longest to sell, with up to an average of 41 days on market.

Advantages of selling in the off-season

Thousands of homes still sell in the colder months of November through April. For sellers, fewer homes listed means less competition. Also, buyers and sellers are more motivated during winter months, according to Freddie Mac. The finance company also notes that many buyers receive year-end bonuses and overtime payouts that may give them more purchasing power.

Things to do whenever you sell

No matter when you sell, there are things you can do to make your home more appealing to buyers and help facilitate a faster sale. These include:

• Price your home according to current market data. Start with comps, and remove emotion from your decision.
• Make your home look as good as possible. Make repairs and declutter. For help optimizing your home’s appeal, hire a stager.
• Use professional photography and videos in your listing. An investment of a few hundred dollars can help your home sell faster and at a higher price.
• List on a Thursday to get the attention of buyers who plan to tour homes over the weekend, advises Zillow.

When selling one home means buying another

If selling one home means you’ll be buying another, turn to Consumers for your home loan—even if your new home is out of state. We offer mortgages for all types of homes, competitive rates and flexible lending options to our members in all 50 states.

 

 All loans subject to approval. Rates, terms, and conditions are subject to change may vary based on credit worthiness, qualifications and collateral conditions.