What time of year is best to sell your Austin home?
If you’ve been thinking about putting your house on the market, it’s likely you’ve also spent some time mulling over what the best time to list might be. Almost all real estate professionals will tell you that homes sales spike in the spring and summer, but there’s a little more nuance to consider. What particular dates are the best to target? What about considerations for Austin’s unique climate and regional concerns? Let’s take a moment to dive into the numbers and see if we can develop a clearer picture for the best time to sell your Austin home.
The concept of seasonality plays an important role in the housing market. While it’s hard to point to a scientific cause for this phenomenon, anecdotal evidence suggests that school schedules and the weather cause property sales to rise during the warm months of spring and summer and fall during autumn and winter. And while that’s true in Austin, things are not quite that simple. Oftentimes, the numbers reported for home sales are adjusted for seasonality before you see them. This is often the case with information provided by various Realtor associations. They manipulate the numbers for two reasons: first) to allow sales across months to be more easily compared, and second) to make the housing market appear less volatile than it really is. This can make it difficult to get an accurate idea of how many homes are actually being sold near you at any given time because all the values are being adjusted by some unknown percentage.
By the numbers
If you dig a little, you can find numbers that are more reliable; data provided Terradatum (a company that provides market analysis for real estate) show that, in the last twelve months, the greatest numbers of homes in Austin were sold in of June in 2016. In that month, 3,219 listed homes were sold. Compare that to January of 2017 when a paltry 1,293 homes were sold. June and January represent the high and low points of the Austin market, respectively. So that’s it right?
Not so fast. Here are some other things you might want to consider, such as when housing prices were best, when days on the market were fewest and when increases month over month were greatest. Returning to the Terradatum numbers, we quickly see that sales in May 2017 had the highest median home price with $318,000 (compare that with a median sales price of $285,000 in January 2017, an 11 percent decrease, yikes!).
If we take a look at average days on the market, we quickly see that May 2016 provided the fewest with a mere 40 days listed. January tallied the most with a whopping average of 72 days on the market. Finally, if we want to identify the largest month to month increase in median home sales price, we see that there was an $8,792 jump from February 2017 to March 2017.
Putting it all together
The good news for us Austinites is that the problem of seasonality affects us a lot less than the northern regions of the US. Our real estate market much more stable year round than those areas of the country, with sales and prices consistent month over month as compared to places like Boston or Seattle. As a result, trying to decide what time of year to sell your home shouldn’t keep you up at night. However, if you want to maximize the value of your home (or other factors), here are a few simple guidelines to follow. If you want the money for your house and you want it listed for the fewest number of days, list in May. If you want the best odds of selling your home, list in June. And if you’re in a rush, and you want to sell earlier in the year, aim to list in March when homes prices increase the most. Avoid January if possible.
At Amne, we are working towards making the home selling process clear and easy. When you are ready to sell a house, get a free offer from us. If you’re happy with it, sell it to Amne and, move in 3–60 days, at your convenience. We would love to hear from you. Learn more about Amne.