The age old dilemma with selling your house is picking the right time to do it.
House selling is typically seasonal, but there are other factors at play that can influence when is the best time to sell, and some are lesser known.
The best time to sell your house is normally in the spring, followed by the summer.
There are some psychological tendencies at play, such as when people prefer to get married, start something new after the new year, and when leases are up.
Can you sell a house in the fall and winter?
The answer is Yes, but with the possibility of having to take care of the holding costs if it doesn't sell for multiple months.
Because the buying pool is generally less during those seasons, you may need to hang on to the house and wait longer for the right buyer to come along.
Some factors that might affect the typical buying season may include events, tourist areas, development cities, and unexpected types of events.
Events: if any area has regularly scheduled events, like popular football teams, festivals, conventions, etc, then there may be buyers who are looking to hold properties in the area no matter when they become available.
Tourist Areas: Probably the most common sense outlier, any area with ample tourist attractions will also attract buyers when a property goes on the market.
Developing Cities: In places such as Austin, there is so much development going on that the demand is far greater than the supply. No matter when a house goes up for sale, it'll have a flock of buyers within days.
Unexpected Events: An example of this outlier is the Covid-10 pandemic, where federal interest rates have dropped to record lows. Because of that, buyers are entering the market to take advantage of the interest rate, which will save them many thousands of dollars over the life of their mortgage. Homes get picked up regardless of what month as long as the interest rates are so low.
Due to the nature of these motivations, if you are in an area where they apply, then more than likely you can put a house on the market and avoid the typical buying cycles.
The one common denominator for almost any sale that occurs super quickly is pricing.
In most situations, when a property sits on the market for 1-2+ months, it's a mismatch of desired amount from the homeowner vs what the market is willing to pay for it.
If your price is too high, then it will sit on the market. If you price the house appropriately, the market will let you know.
If you would rather avoid the typical buying cycle and season, then an option could be to sell your house for a cash offer.
Because we are investors and we offer cash from our private funds, we don't have to wait on bank approvals or appraisals to purchase a property.
This means that we can buy your house in Memphis at any time of the year, regardless of its location or condition.
The one criteria that must be met is that it's a win-win for both of us. We can't purchase at full market value because there's no room for investment.
But if your situation applies and you need to sell quickly, we can make that happen so that you aren't sitting on a house for 3+ months.