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Selling a Home: Best Time?

Posted By Barry Ritholtz On May 21, 2005 @ 10:30 am In Finance,Real Estate | Comments Disabled

Chart of the Day [1] asks, "When is the best time of the year to buy or sell a home?"

The answer to that question could save you a significant amount of money. Timing your home purchase or sale has a significant impact on price.

click for larger chart

Cotd_20050518 [2]

"To create this chart, we compared each month’s 1990-present
‘national’ average selling price to the entire 1990-present average to
determine if home prices carried a premium or discount for any given
month. As the chart shows, home buyers were willing to pay a
significant premium during the summer when the weather was generally
good and the kids were out of school."

Part of the reason for this is that parents prefer not to move kids mid-school year. If you can close no later than June or July, that allows you to have the kids in their new school from day one of the next school year.

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URL to article: http://www.ritholtz.com/blog/2005/05/selling-a-home-best-time/

URLs in this post:

[1] Chart of the Day: http://www.chartoftheday.com/20050518.htm?t

[2] Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/cotd_20050518.gif

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