Timing is everything. In our last article, Is Now the Ideal Time to Cash Out?, we went over whether or not this year is a good time to sell your home. Considering the historic low inventory and large number of buyers in the market, we came to the conclusion that 2021 is the ideal time to cash out. Now that we have that covered, you may be wondering when exactly you should put your home on the market.
Spring is in the air, summer is on the horizon, and winter will soon be in our rearview mirror (except for a few surprise spring snowstorms). In the US, the best months to put your home on the market are May, June, July and into the beginning of August however; this varies by geography. If you own a home in the mountains, the dead of winter may be the best time to sell to capitalize on tourists. Similarly, if you live in a city like Boulder, not only is the vibe unique but so is the real estate market and following national trends may not be in your best interest.
In this article, we break down selling by season and what day of the week is the best time to list your home. Keep in mind that this year has been unpredictable and while some seasons may historically be better than others, 2021 has not been a normal year! It has been filled with low inventory, high offers, and lightning fast days on the market. In short, a seller’s market.
Winter
Snow covered mountains, skiing, and a feeling of living in a winter wonderland are some of the reasons why we love living in Boulder. There’s nothing quite like waking up to snow, trekking up to Eldora Ski Resort to make a few turns, followed by cozying up with hot chocolate in our home. Typically, winter is the slowest time for real estate transactions due to unpredictable weather and the holidays, but Boulder is an exception. Buyers who are purchasing in the area are likely to be visiting Boulder in the winter and are drawn to the winter weather and quick access to recreational opportunities. A little snow doesn’t scare off Boulderites! We have seen tremendous success starting mid-January.
Spring
Welcome to peak home selling season! Not only is the weather transitioning but spring is the time where sellers start to get the itch for transition. It is also the ideal time to relocate because many families are working with the school calendar. In late May and into June, buyers notice an influx of properties hitting the market. While this is good news for buyers, it is also important to note that the earlier sellers get their home on the market the better. This will give sellers a leg up to beat out competition coming to the market. Spring is often the time where sellers see numerous offers and bidding wars. Does anyone remember the Spring of 2018? We predict the same hot seller’s market in the spring of 2021, if not even more competitive for buyers. Sellers! Let’s get your home on the market asap.
Summer
We are now in the heat of summer and inventory should start to open up meaning a softer summer buying season. The weather is nice, kids are out of school, and with this comes more looky loos than serious buyers. With more people being vaccinated and destinations opening up, people will be traveling and the buyer pool will shrink. If you’re not prepared to get your ducks in a row in the spring and list by mid June, we suggest waiting until early fall. This gives you time to do house projects such as updating and work on curb appeal before the fall. Giving advice to not list in the summer is unrealistic due to life circumstances, but you may get a better price by waiting it out a few months. Neighborhoods close to outdoor recreation such as Northeast Boulder and walking distance to downtown such as central Boulder will see the most traffic as buyers can “picture” themselves doing these activities more in the summer.
Fall
We love fall around here. The golden leaves, crisp air, autumn decoration inspiration, and snow covered peaks are breathtaking. Not only is fall many Coloradans favorite season, it is a great time to sell. While the rest of the country typically slows down in real estate transactions, the Boulder market is strong. Boulder historically sees an increase in demand mid-September through mid-December once kids are settled back into school. These folks looking for houses are serious and know what they want. They usually only need to see a few homes before putting in an offer. Buyers want no dilly dallying before the holidays speeding the process along!
What Day of the Week is Best?
The 2021 answer: as soon as possible! In a normal market: Thursday. Putting your home on the market at the end of the week, preferably on Thursday, is a tactical way to book showings all weekend and hold open houses. In an ideal situation, we would have offers by Monday and the contract signed by Tuesday afternoon. It also gives sellers an opportunity to leave for the weekend and take a “mini vacation” so they are not bombarded with showings.
Real estate is sold all 365 days a year, period. The Boulder housing market is always strong no matter the season. But when is actually the right time to sell your home? Our answer is simple – when you’re ready. Before putting your home on the market, have a plan for your next steps. Hire a professional realtor to help you get top dollar for your home and help guide you through the process. Are you thinking about making the leap? Reach out today for a free market analysis!