Timing is Everything!

One of the most common questions I get from people thinking of selling their home is “what is the best time of year to sell a home?” Now understand, the great full time Realtors of the Twin Cities are selling homes year around. The snow and cold of our winter season does often reduce sales during the really cold months, but we still sell properties in every month of the year. There have been Decembers that I have sold as many homes as I did in June and July. Most consumers believe that June, July and August are our best months here in Minnesota. Actually, I have found April, May and June are our very best months and that July normally holds up pretty well. Often by the middle of August we actually see a drop in sales as people with children, who wanted a particular school district, have already accomplished their mission or have given up. Plus last minute vacations and getting ready for school take priority. But why April, May and June. I believe for several reasons. One is that most people realize that it takes 45 days on average to close. Those same parents discussed earlier know that to get moved in time for the new school, but finish in their current district, requires an early purchase. Also, many people are trying to buy on a lake or golf course or some other recreational amenity, of which we have so many in Minnesota. They want the whole season to enjoy those benefits. Part of the desire to look at homes early is also what some call “Spring Fever”.  After being cooped up all winter they just want to get out and do something. Looking at homes is a fun thing to do. Summer activities like softball haven’t started yet so it is a good time to look. I have an article on my website, mnhomesbydave.com , under the Real Estate News tab, entitled “The Ideal Time to List a Home for Sale” which appeared in Rismedia.com, a daily professional Realtor email newsletter to which I subscribe. It talks about this very subject and then breaks it down city by city. It says that in Minneapolis/St. Paul, that the best time is mid-May. In my experience, for most people, that cuts prime season short by a month. It also does not take into account several other factors in the moving process. One is that it does not allow a seller time to test the price affectively on their home, as it shortens the selling time too much and too little prime time is left. There is also no time to get feedback from the market as to changes which might be made to enhance sale-ability. Secondly, sellers have to move somewhere. Which means, they have to buy in most cases. For people in this position, it is almost always in their financial interest to sell first and then buy. It puts them in a better negotiating position in both transactions. But they need time to find that new home, negotiate and close on it. So my best advice to sellers is to get on the market from mid-March to mid-April for the best and most rewarding transaction. Thanks for reading.

David Feerhusen

David Feerhusen

Broker/Realtor, CDPE, GRI, CRB
Contact Me