Are you looking to get into the real estate game and put your house on the local market? If so, you must know what is the best time to put your house on the market. To get the highest home sale price, you will need to choose the best time of year when home buyers are looking to purchase a property.
The housing market has provided a very favorable environment for sellers recently. However, selling during spring and summer tends to bring in the best home prices for sellers, unlike the winter months.
Do the real estate markets and the best time to sell differ depending on the state? What are the best months to sell? Generally, what is the best time to put your house on the market in South Carolina? Keep reading to find out the answers. Now, let’s get started!
The Best Times to Sell a House Differ Per State
The best times to sell a house depend somewhat on the state you live in. For example, in South Carolina, June is the best month for selling real estate at a higher asking price. In Massachusetts, April is the best month to put your home on the seller’s market.
However, an analysis of single-family homes and condos shows that May is the best month to sell a home nationwide. Sellers can get a profit 13.4 percent better than the actual home value. A report from ATTOM Data Solutions found that the best day to sell a home is May 23 nationwide with May 16, 19, 20, and 27 not far behind.
The late fall and winter tend to include the worst months for home selling. November, October, and December tend to make up the worst months with the lowest numbers of potential buyers. May, June, and July makeup the best months and favorable market conditions for selling your home nationwide.
Higher prices for real estate properties during specific seasons tend to get more pronounced in the Midwest and Northeast due to a greater difference between temperatures. As such, states in these regions sell at significantly higher prices in the spring and summer.
States in the Southern and Western parts of the United States have fewer differences between the busiest and slowest seasons for the real estate agent. Since the temperature stays moderate throughout the year, the South and West don’t have significant price deviations between the summer and winter months.
Essentially, fewer people want to purchase homes in the dead of winter or when the holidays are upon us. Since warm temperatures abound in the fall and winter throughout the South, these states have plenty of home buyers year-round.
The Best Time to Put Your House on the Market in South Carolina
Currently, South Carolina is experiencing a great period for homeowners looking to sell their property. However, people looking to purchase a home in South Carolina are finding fewer opportunities and far fewer homes on the real estate market than in 2021.
Real estate agents state that the number of houses currently listed is historically low throughout South Carolina. A report from the South Carolina Realtors found that the number of homes listed on the housing market in Columbia decreased by 41.6 percent from February 2021 to February 2022.
With each county having different zoning regulations, some areas are not as favorable to new construction projects, and fewer homes are available on the market. Yet, this means that sellers may get a high bid on their property regardless of the time of year they put their home on the market. Home sellers might even get a better deal on closing costs.
Yet, the absolute best time to sell a home in South Carolina takes place in June. The median sale price of South Carolina property in June is $12,417 more than the yearly average. However, if you want to sell a home fast in South Carolina, putting the home on the market in May is your best bet.
In May, homes get sold in 68 days throughout South Carolina. The timeline is 10 days quicker than the yearly average. However, you may want to consider a cash buyer as the cash offer process in SC is much faster. Cash buyers take only two or three weeks to complete a sale.
Another way to streamline the sale and get an offer more quickly is to add some upgrades to the home. You might also want to improve curb appeal by adding some flowers and bushes to the front yard. When you do so, you can increase your list price.
The Worst Time to Put Your House on the Market in South Carolina
Starting in September, the seller premiums for home sales tend to drop to lower numbers, according to the ATTOM analysis. The average premium decreases to 7.5 percent in September nationwide. Usually, families with children try to buy homes before the new school year begins.
As such, far fewer buyers appear in the fall and winter. Furthermore, the holidays in November and December keep people busy and fewer buyers are available.
Those interested in purchasing real estate tend to put homebuying on the end of their to-do list throughout the late fall and winter. The colder months also bring darker nights earlier and people tend to stay put. As such, home sellers are likely to see fewer buyers interested in their properties during the winter months.
The ATTOM research study also found that December and October are the worst months to sell a home nationwide. The results show a 5.8 percent seller premium during both months.
In South Carolina, December tends to be the worst month to sell a property. This has been true from year to year with December showing the worst results from 2016 to 2019 in South Carolina.
However, while winter is the slowest time of year for the housing market, you may find buyers during this time who are the most serious and competent. In addition, while the real estate market is strong in the spring, South Carolina sellers have more competition during this time. The summertime tends to have the most motivated home buyers throughout the state.
Differences Between Selling Your House in the Summer vs The Winter
Generally, you should consider selling your home in the summer with May, June, and July being the best months for putting your house on the market. You should have a good chance of selling your place for around 10 percent above market value during that time.
Putting your home on the market during the summer is a good idea because you should have a higher chance of selling the property more quickly. Sellers during that time are usually motivated to quickly move in since they want their children to start school in the early fall.
Furthermore, as long as you keep your home clean, your property is likely to look better in the summertime due to longer and sunnier days.
The summer is also a great time to take a short vacation, which can free up your property for showings by your real estate agent. The most expensive home sales in South Carolina and nationwide tend to occur during the spring and summer.
The downside of selling in the summertime is the competition you may get from other home sellers. During the winter, however, you’re likely to see a limited amount of housing inventory, which means less competition for sellers.
Some other benefits of selling your home during the winter include:
- Displaying your house’s energy efficiency and winterized properties
- Finding more serious home buyers
- A more motivated and devoted real estate agent
However, in the winter, you will find it more difficult to create curb appeal and attract new buyers when compared to the sunny days of the summer. Bidding wars are also more likely in the summer as compared to the winter since fewer buyers are looking to move during the colder months.
Homes tend to sell faster during the spring and summer than during the winter. However, if you need to move as fast as possible, you will benefit from selling your place to a cash buyer. Such buyers don’t need to wait on a mortgage loan approval and can buy much more quickly.
In South Carolina, you can find cash home buyers in Tega Cay who will purchase your property in its as-is condition. When I needed to find someone to buy my house in South Carolina in the wintertime, I went with a cash buyer for a quick and straightforward sale.
Conclusion
Essentially, spring and summer are the best seasons to put your home on the market whether you live in South Carolina or any other state. May and June are the best months to get the best price and sell your home within a couple of months.
However, if you want to sell your home in a few weeks or less, contact us for a cash offer. We buy homes in Fort Mill and other South Carolina towns.