Spring is fast approaching, which means nice weather, brighter days, and nature coming back to life. With this seasonal change brings a surge of energy and activity to many people, and this is the time of year we begin to see sellers emerge and begin preparations to sell their homes.
Many sellers don’t know that March is the 2nd best month of the year to sell (first place being February), so if you’re considering making the move this spring, the sooner the better! We always see sellers miss out on earning the most value for their homes by waiting until the summer, which is why spring is the perfect time. There are plenty of reasons why moving during the springtime is beneficial, and we’ve broken down the top nine.
1. Buyers Come Out in Droves During Spring
Springtime is known to be the busiest period for real estate, and even though inventory has been historically low, signs of spring activity are beginning to give buyers more hope! Inventory is slightly up when compared to this time last year, which means more buyers will be encouraged to enter the market since there is more selection. Additionally, even though mortgage rates remain in the 7’s, more and more buyers are taking advantage of alternative loan programs such as buydowns and assumable mortgages.
2. Weather Conditions are Ideal for Home Selling
When the weather warms up in the springtime, it truly rejuvenates the world around you. The sun is shining, the grass is greener, and budding plants begin to paint the neighborhood in vibrant colors. These factors, combined with you doing the due diligence to maintain your home’s outward appearance, make your house more attractive to buyers and increase its overall value. It is much easier to take care of your lawn during this time, too, since there’s no excessive rainfall or snow. Curb appeal does, in fact, add value to your home, so be sure to trim your hedges, put down fresh mulch, and plant some flowers.
3. With Springtime Comes Longer Days and Better Lighting!
Towards the beginning of March, the clocks jump forward, giving us an extra hour of sunlight. For some, this is what marks the beginning of the spring season. With this added time, sellers can host showings much later in the day, as most buyers prefer to view homes during the day. More showings equals more eyes on your home, which potentially means more offers! Additionally, a property flooded with sunlight makes for beautiful listing photos, which is often the first thing potential buyers will look at before even considering visiting the home.
Before showing your home, pull back the curtains and raise the blinds to let in natural sunlight. This allows the warmth and brightness of the sun to fill the rooms, enhancing their appeal with a brighter, more lively atmosphere. The presence of natural light not only makes spaces appear more welcoming and vibrant but also contributes to a sense of comfort and coziness. A home bathed in sunlight creates a positive, lasting impression on potential buyers, making the environment more appealing.
4. It is Easier to Move During the Spring Season
If you’re planning to sell your home this spring, chances are you’re also looking to buy a new one. Moving during the spring season can be beneficial due to the more favorable weather conditions. With longer daylight hours, you have ample time to explore potential new homes and neighborhoods that best suit your lifestyle. This makes the overall process of finding the perfect home much smoother. Additionally, the pleasant weather makes the physical act of moving more comfortable and less challenging. Overall, spring is an ideal time to embark on both selling and buying a home.
5. Spring Tax Refunds
When spring arrives, so does tax season, offering an opportunity for potential homebuyers to receive a tax refund. Having this extra cash in hand can serve as motivation for individuals and families to consider putting their money towards a down payment on a new home. Sellers who strategically time their listings to coincide with tax season can attract motivated buyers eager to utilize their tax refunds as leverage in the real estate market. By capitalizing on this heightened demand, homeowners can potentially sell for a higher price.
6. When Spring Begins, So Do Bidding Wars
As we move further into the spring season, more and more sellers will likely list, which means there will be more competition to attract buyers. However, we’ve seen a slightly different story over the last few springs. Despite inventory being a bit higher year-over-year, there is still a large pool of want-to-be sellers who are hesitant to list because they don’t want to lose their pre-pandemic interest rate. Additionally, some worry about having to move twice or having to settle for a home they only mildly like.
Since inventory is still on the lower side, NOW is the time for you to list your home and take advantage of the diminished supply. If you price appropriately, buyers will compete and likely create a multiple-offer situation, which could drive the sale price up in a bidding war.
7. People Want to Settle Down Before Spring Ends
Many potential buyers want to finish transactions and move into their new homes before spring ends. This gives you an advantage, as buyers typically purchase between late spring and early summer.
8. Spring is the Perfect Home Improvement Season!
Many sellers will agree that a common goal is to sell their home for the highest price possible, and the spring season provides ample opportunities for home improvement projects big and small. There are easy and inexpensive steps you can take to enhance the value of your home, such as replacing your mailbox, adding a fresh coat of paint, or decluttering. Overall, springtime makes it easier to freshen up your home without taking on huge renovations or improvements.
If you’re in the position to undergo a bigger home renovation, there are benefits to tackling this in early spring. During this time of year, contractors work more efficiently, as this season provides the perfect middle ground between the winter cold and intense summer heat. Scheduling the project will be more flexible as well, as long as you get your project on the books ahead of the influx of upcoming summer jobs.
9. You’ll Have Plenty of Time to Move Before the School Year
If you have school-aged children living with you, listing sooner than later will provide you and your family plenty of time to sell and move to a new location before the new school year kicks off in the fall! By selling your home early, you can take advantage of the typically higher demand in the spring market and have more time to find the perfect new home in the school district you’re interested in. Additionally, moving during the summer months when school is out can be less disruptive to your children’s education and routine.