We all know that May and June are the two best months to sell your home. Now we have data to prove it.
ATTOM Data Solutions, a real estate data firm, evaluated the sales of 14 million homes over the last 7 years. Geography plays a role in determining popularity—the best time to buy in Florida is January and February.
But how do you explain the popularity of home sales in Greeley in February? I can’t.
When It’s Springtime in the Rockies…
The best time to sell in Fort Collins is June but in Boulder its May. Sellers in both cities receive a 2.6% and 3.6% premium respectively in each of their months. Are there more university parents scouting out Boulder in May when they come to pick up their kids? Does that demographic have less of an impact in Fort Collins? Does any of this matter?
Well, yes, it does. There’s always more buyers looking in May and June intent on finding a home and be moved and settled in the neighborhood before school starts in mid-August. Sometimes that’s true even if there aren’t any kids involved. We just want to be settled before the winter, even though its months away.
The Real Estate Market Gets Frantic
Having more buyers means more competition and more bidding wars. No one likes bidding wars, even sellers can get overwhelmed with all the terms involved. But buyers are feeling the lack of inventory, especially in the lower price ranges which can lead to hurried offers, buyer’s remorse and the cancellation of contracts within days, sometimes hours of making an offer.
Despite the craziness, listing your house in May or June in Fort Collins and Loveland can bring more money, more buyers and a quicker turn-around time from listing to closing. Waiting until July or August can bring not only the “dog days” (whatever that means), it may mean less showings and a less frenetic process. Not necessarily a bad thing.