The housing market often appears unwieldy and unpredictable. For first-time homebuyers, it’s a very intimidating endeavor. And who can blame them? After the housing market fell apart in the late 2000s and countless people saw their homes foreclosed, many people became wary about venturing into homeownership.
The good news is that the market is coming back. San Diego home sales are on the rise, and many new homeowners— and home sellers— are finding confidence again.
Knowing when to buy and sell a home
Traditionally, there’s been an uptick in spring and summer home sales. Kids are out of school, the weather is great, and other factors make spring and summer months easier for moving. This is a great time of year for sellers, because buyers are out in droves and, with that kind of competition, more of them are willing to pay at the top of the price range.
However, if you’re looking to sell your home in San Diego quickly, selling fall and winter months can provide hidden benefits. For example, the conditions in which someone moves during the fall and winter are often more urgent. Major and unexpected life changes like divorces or relocations will motivate a mover. Even if an open house attracts only a small number of potential buyers in the fall, these people will often be more eager to buy than the dawdlers and casual lookie-loos who attend open houses in the spring and summer.
When selling, there’s one rule that seems to extend across all schools of thought: list the house early. March to mid-April are the prime months to list a house. Specifically, the beginning of March is the best time for San Diego home sales, whereas houses in colder places like Boston and the Northeast should be listed around mid-April, when the weather warms. Selling a house in this window ensures a faster sale, and since the time period between contract to closing can be fraught with stressful negotiation, it’s desirable for both buyer and seller to get it done fast and efficiently.
For buyers, the lack of competition works in their favor during the fall and winter months. Sellers are more motivated to sell their homes in the off-season. The beginning of the year also presents a unique set of financial concerns— namely, paying off holiday credit debt and simply getting finances under control— so sellers are a little more lenient to negotiate.