When is the Best Time to Sell Your Home?
We are often asked this question. . . In Chicagoland, there is a very clear seasonality to our real estate market. It is driven partially by weather, partially by the school calendar, partially by available inventory and it is very distinct. The number of homes “Under Contract” in a given month indicates the number of active buyers. As a seller, you want to be ready when the greatest number of buyers are active. The below chart shows clear patterns over the past three years for very high buyer activity in March and April (which means they start looking in February) with activity tapering off through the remainder of the year. Notice the slight bump in activity in September and October with buyers trying to get in before the holidays arrive.
Under Contract Homes in Chicago – Cook County
Note that the number of homes on the market peaks in summer, around June or July (see below). As a Seller, you will statistically expose your property to the greatest number of buyers by going on market in February-March (or April at the latest), when your competition is a bit lower yet buyers are out shopping in full force and ready to write in the next 60 days!
Of course, it only takes one buyer and there are always opportunities to sell at any time of the year as life events that trigger a move can happen 365 days a year. If you do want to list now or in the early spring, contact me so that we can discuss how to best prepare your home and the #1 thing you should do right now to be ready! I am also happy to pull numbers for your community as well.