Traditionally in our West Michigan market homes are at their highest values during late Spring and early Summer. Think May through July. May is often the month when homes sell at the highest amount.
Keep in mind, if you sell your home in May, it will close in June. You spend most of June/July shopping for a home, find one, and then traditionally wait 30 days for financing to close on the home and generally 30 days of seller possession. Making your move in date around August/September. This won't work for all families as the school year has already begun.
Fall and Winter seasons generally are slowing moving markets with home prices leveling off from the busy summer months. However, with less competition, typically it results in more serious buyers. Less "looky Lous" as we like to call them. If you're planning to purchase a home, Fall and Winter are a bit more relaxed for home shoppers. Homes don't generally sell as quickly, with multiple offers, above list price. Many buyers will agree that Fall and Winter times are more comfortable times of year to shop for homes.
There isn't a "best" time of year to sell a home. The best time is when you're ready. Could you net an additional $10,000 on your home selling in May? Yes. Could you pay an additional $5,000 for purchasing in July? Yes. Are you prepared for your home to sell in three days? Are you prepared to purchase a home in two weeks to make sure the possession times line up? Is it doable? Absolutely!
My ideal time frame to shop for a new home is September through November. The competition of summer shoppers is down. I can make a better decision on a home purchase without having to make an immediate decision. There's plenty of inventory available from families that wanted to sell but couldn't because they were too busy during the summer. Lastly, September through November still has comfortable weather for a convenient move. When aligning my home shopping experience with the sale of my home I'm targeting a listing month of July or August and purchasing in early Fall or early Winter.
There's tons of various emotions that occur when buying and selling a home and it's difficult to capture all of them in a few brief paragraphs. Contact me and let's discuss the various pros and cons of selling/buying in the different seasons of Michigan.
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