When is the Best Time to Sell a House?

Whether you're a homeowner or an investor, real estate is one of the most significant investments you will ever make. It's generally considered one of the greatest types of passive income, capable of generating multi-generational wealth for you and your family. It is one of the many reasons you should do everything you can to protect your investment.

If you are considering selling your property, there are many different factors you need to pay attention to in order to earn top dollar for your investment. When is the best time to sell your home? What type of market should you list your house in? Yet, one of the most overlooked factors is the time of year. Can seasons really influence the success of your home sale? Absolutely!

Understanding the local market throughout every season is essential if you are selling property in Illinois. Choosing the right time of year could connect you to the right buyer and net you a greater profit at the closing table. Here's a breakdown of the River Forest real estate market season by season and what to consider before listing your home.

As you are preparing to sell your home, there are many things you need to consider. In real estate, timing is everything. Not only do you want to ensure you're selling your property when qualified buyers are readily available, but you also want to ensure the timing works for you. So when is the best time to sell your property? That depends on many factors, but paying attention to local market trends is essential if earning the highest profit possible is your number one priority. Doing so can make or break your sale.

As with retail and travel, homebuying patterns ebb and flow with the seasons. It's no secret some seasons have greater real estate market activity than others. And if you live in an area like River Forest, the weather is a key factor in predicting when buyers are most likely to pounce. Overall, winter is one of the slowest seasons for real estate activity, especially November and December, due to the holidays. In contrast, spring and summer are often considered the busiest real estate months, especially late spring/early summer. Overall, May is often considered one of the best months for real estate nationwide.

Compared to many other regions in the country, the Midwest is most affected by seasonal homebuying patterns. This is often due to extreme weather conditions during the winter, namely snow and below-freezing temperatures. Overall, fewer buyers are interested in moving in winter than they are in the spring and summer. Winter can be a really difficult time to move for several logistical reasons. With snow and ice on the ground, buyers are more likely to get injured while touring properties or even while they're moving their things to and from their new house. It can also be bitterly cold in Illinois during the winter, so the majority of buyers would rather wait for it to warm up before beginning their house hunt.

Overall, homebuying season tends to pick up around March, but the peak buying months in River Forest are from May to September when the weather is at its best. As a result, this is also when local real estate prices are at their highest. Sellers can expect to earn thousands of dollars more for their listings during the spring and summer than in the fall and winter.

Selling your home can be a complex process. While seasons can play an important role in determining when to sell your house, it's far from the only factor you should consider. You need to take stock of what is going on in your life and start from there. Consider the reasons why you're selling your property. Are you ready to move? If so, why? Understanding your 'why' is integral for staying on track for your real estate goals. Here are some signs you're ready to sell:

If you were to look at who you were ten years ago versus who you are today, would you say you're the same person? In most cases, the answer is probably 'no.' You likely have experienced many different milestones within that time. As a result, you have grown and evolved. As our lives change, so do our needs. The starter house you bought five years ago may have been perfect when you bought it, but for whatever reason, you may have outgrown it. On the flip side, maybe you’re ready to downsize and go smaller.

If you've thought about selling your property for a while, maybe you've considered the best how to earn the biggest profit on your property. This means you likely took on home improvement projects you've put off for years, whether you're adding new light fixtures or replacing your roof. Home improvement projects come in all sizes and scales imaginable, and ultimately, most home improvements will offer an excellent return on investment, especially as you prepare to list your home. Once your home improvement projects are complete, it's time to contact a realtor and get a marketing plan together.

Moving can be an emotional roller coaster for many people. Whether you want to leave because your house isn't the right size or you're relocating for a new job, you're probably ready to move on. But now the question remains whether or not you can afford to leave. If you have finally saved enough money for your dream home, you have the financial freedom to move on from your current home. Once you are financially ready to move, now is the time to focus on your new home.

Are you considering selling your home? When you need the best, you need Andy Gagliardo. Established in 1958, the Gagliardo Group has been family-owned and operated for over 65 years. Backed by years of industry experience and local market expertise, Andy and his team are your trusted source in River Forest, IL, real estate. Contact Andy and the Gagliardo Group today for a free listing consultation.