The Best Time of the Year to Sell a Home

Late spring and summer are usually thought of as the best times to put a home on the market because buyer demand builds steadily through spring. Sales then peak during the warmest months, when it’s easiest for families to move without uprooting their children from school. But this year, experts predict that the selling boom, which normally starts in spring, will hit at a different time than it has in the past. Sellers with flexibility should market their homes earlier in the year.

According to research, the volume of home sales was highest in June, July or August every year since 2000. This year, however, an $8,000 credit for those buying their first home–that expires on June 30, 2010 and requires buyers to have closed on a home by April 30, 2010–will force buyers to speed up their decisions. Historically low interest rates also suggest that sellers will face a busier market as early as February.

House hunting may have traditionally sped up after March, but nothing about the last few years in real estate has been traditional. In 2008, sales failed to pick up with their usual gusto in late winter because the financial crisis cast a shadow of fear over buyers, and lending seized up.

2009 didn’t follow typical trends, either. Fall, when sales usually plummet, saw more sales activity than usual this year because of the introduction of the government’s tax credit, which was initially set to expire on Nov. 30, 2009. Granted, some sellers have no choice but to sell at a slow time of year. Job relocation and the need to free up assets are facts of life that can deprive families of the luxury of waiting until spring or early summer to put their homes on the market.

Look at how you can turn it to your advantage. Maybe because you’re forced to sell at a different time, there will be less competition. Also, be realistic about your price. If you know you’re selling at a tough time, it can be a tough call, but you might have to drop that price a little.

If you’re going to be selling a home, taking a chance and starting the process earlier could reap distinct benefits in 2010, so get your property listed as early in the year as you can.