The Spring Market: 5 Reasons Why Spring is the Perfect Time to Sell Your House.
It’s been roughly half a year since Chicagoland has seen the sun (kidding), but the warm, sunny weather is finally upon us, which brings us into today’s topic: the Spring Market and why the springtime is the perfect time to sell your house.
I’m sure many of you have heard that the spring is the perfect time to sell your property, but besides the fact that everyone has an extra boost of vitamin D and our seasonal depression is finally subsiding, have you ever wondered why? Let’s drive into 5 reasons why the spring time is the perfect time to sell your house:
1. MAXIMIZE PROFITS
The most important reason to sell in the springtime- the ability to maximize your profits. Statistically speaking, most people who sell their homes between the months of April and May can sell their property for 5.9% more money than if they were to sell it in any other month. Properties that are listed in April and May also tend to sell 18.5 days faster than any other month, according to The Mortgage Reports.
2. IDEAL WEATHER
Yeah, we all know it- especially when it comes to the weather in Chicagoland (who wants to sell a house when our trees are bald and the skies are gray for days on end?!). The extra vitamin D we get from the sun during the springtime helps boost our mood and motivates us to get the ball rolling for warmer weather ahead. The days are longer, the temperatures are mild, and the blooming flowers and trees make your home appear so much more warm and inviting.
3. MORE BUYERS
The springtime is considered the peak season for home sales. According to data collected by Realtor.com, the best time to sell a property is between April 16th and April 22nd. For similar reasons listed in reason #1 of why the springtime is the best time to sell, the same holds true for homebuyers. The sunny, warmer weather is much more favorable for moving conditions for homebuyers, so they begin to really start their home search when the weather starts warm up.
4. BLOOMING LANDSCAPING
Buyers are automatically drawn to beautifully landscaped properties, and the spring weather gives you the perfect opportunity to showoff your beautiful landscaping. Did you know that according to Landmark Home Warranty, curb appeal alone can add 5-14% to the value of your home. According to an article posted by Realtor.com, “Having a beautifully landscaped property not only helps with a home’s resale value, but it also often keeps the neighbors happy. Homeowners who neglect their yards might face peer pressure to keep their properties tidy so as not to drag down local home values”.
5. BIDDING WARS
Although springtime brings out more sellers to compete against, it also means more homebuyers looking for a home. Even if more sellers come out to sell their property this spring, the Chicagoland market currently has the lowest inventory levels since before 2008, which makes this spring an absolute gold-mine for people looking to sell. Little inventory paired with big spring buyer demand is a recipe for some great bidding wars for sellers.
