Why Summer is an Ideal Season to Sell Your Home

Why Summer is an Ideal Season to Sell Your Home

The real estate market may slow down in the summer, but buyers remain motivated to close deals before fall.

Key Points
- Momentum from the spring real estate market extends into June, though activity slows from July through September.
- Summer buyers are eager to finalize purchases before the new school year or starting new jobs.
- Longer days and warmer weather provide sellers the chance to showcase their homes at their best.

Timing is crucial in real estate. While the summer housing market might be slower than spring, it doesn't mean buyers aren't serious.

"Buyer activity in the summer generally slows down compared to the spring peak in March through May and the fall pickup in October and November," says an expert from a real estate data analytics company. "However, motivated buyers are still active, especially those who need to close before the new school year or a new job starts."

If you're considering selling your home, here's why summer is a great time to move forward with your plans:

Warmer Temperatures Motivate Buyers
Spring is often considered the best season to sell a home, but summer has its advantages. With flowers in bloom and clear skies for listing photos, buyers are eager to start the closing process to move in and settle before fall.

Homebuyers tend to decrease in the winter due to holiday obligations and children in school, leading to fewer homes on the market temporarily. Buyers may also be more motivated in certain markets. Summer can be a great time to sell in secondary home and resort markets as well as major cities and luxury tourist destinations.

"In addition to college or university faculty, researchers, administrators, or other staff who would relocate during the summer in advance of the autumn semester, potential buyers with college-bound members in the household might decide to purchase a condominium unit or home for the student instead of paying for often-costly student housing," says a real estate broker.

Summer Weather Improves Showings
First impressions matter in real estate, and summer often brings some of the best weather and lighting for showings, allowing sellers to showcase their homes' greatest features and boost curb appeal. “Nicer weather and longer daylight hours mean more chances for open houses showing the home in its best light,” adds another expert.

According to a recent report, 97% of real estate professionals believe curb appeal is important in attracting buyers. A study found that curb appeal can boost a home’s value by as much as 7%.

However, curb appeal can be tricky during the summer, especially on hotter days. “Similar to cold and wet winter days, hot and humid summer days might deter some buyers from attending open houses, while nice weather encourages higher turnout,” notes another expert. “If it's hot outside, sellers should make sure their home feels cool and inviting during showings to provide an optimal experience for buyers.”

Less Competition Among Sellers
After the peak spring season, many sellers wait until autumn, traditionally the second busiest time after spring. Sellers who list in the summer often face less competition. “In a low-inventory environment, buyers will be looking all year, so the seller who lists during the summer still has the opportunity to attract one or more qualified buyers,” says a real estate broker.

Summer sellers may stand out in the current low-inventory housing market. Summer may not be as active, but buyers are still serious. According to recent data, more than 16,000 existing homes and 1,800 new homes are sold every day on average from July through September, just 3% lower than the spring peak season. Summer homebuyers are typically ready to commit and make an offer when they find the right property.

You Can Get a Head Start
There’s still time to get your home on the market this summer, but successfully reaching potential buyers requires more than just an online listing. Experts recommend contacting an agent at least a few weeks before you plan to list the house to know what you need to do early on and avoid a time crunch. Selling your home also likely means you'll be buying a new one, and the earlier you start on one, the sooner you can make moves on the other.

Here are four tips for taking advantage of the summer homebuying season:

1. Prep your home.

Keep your lawn mowed, trees and shrubs trimmed, and plant brightly colored flowers if possible. Staging is also key. Clean, declutter, make minor renovations, and update decor to make the home appear move-in ready.

2. Price smartly.

Overpricing can drive away potential buyers. “Start with a realistic at-the-market price to attract the attention of serious buyers and avoid extended days on the market,” recommends another expert.

3. Ensure your AC is working properly.

Potential buyers won’t stay long in a hot, uncomfortable home. “You want buyers to take their time as they walk through your home, perhaps sitting on your couch to get a ‘feel’ of what it’s like to live there,” says an agent. “The last thing you need is a hot and uncomfortable experience for potential purchasers.”

4. Be prepared.

Even in a seller’s market, there’s no guarantee your home will sell quickly. Pay attention to homes going on the market in your area and emphasize the particular strengths of your home. “Even though the market is slow, stay ready for negotiations, as serious summer buyers may want to act decisively,” advises another expert.