Aug. 8, 2024
I get this question often: When is the BEST time of year for me to sell my home quickly & for top-dollar?
While the real estate market anywhere, Georgia included, ebbs and flows through the year, in general, we see some patterns emerge year-after-year in when the most homes tend to sell. Time periods with the most closings tend to also be the time periods with the highest prices and fewest days on market (since more demand= more closings + higher prices + fewer days on market). Here's a look at the number of closings in Jackson County specifically since 2020, and while this is specific to JaxCo, it is also indicative of the real estate market as a whole in our area:
So, what do we notice? May, June, and July tend to be the months with the most closings, with March & September occasionally sneaking in there, too. December, January, and February tend to be the months with the fewest number of closings.
These numbers, of course, are influenced by a number of factors- primarily the economy, interest rates, and school calendars (families tend to buy/sell in the late spring/early summer so they can be situated by the time school starts). Notice that dip in June on the light blue (2024) line? With the high interest rates we've seen this summer, it's no surprise that Buyers have been slower to buy, resulting in the lowest summer month of closings since May 2020!
What does this mean for you if you're considering selling your home?
(1) Notice that homes sell EVERY. SINGLE. MONTH! There are no months in recent years with 0 homes sold! So if you need to sell, rest assured that you do not need to wait until May-July to sell. There are always Buyers buying so long as there are Sellers selling! It may take a couple extra days to sell, but not by a significant amount. (I sold my personal home in January & it went under contract in 2 days! Buyers are out there year-round.)
(2) This data shows homes CLOSING, not going under contract! Typically, it takes ~30 days for homes to go from contract to closing. If most homes are closing in May, June, and July, those same homes were most likely listed and went under contract in April, May, and June! If you want to hit those "hot" summer months, your best bet is to be on the market by April or May to take full advantage of the highest demand.
(3) 2024, for the most part, has shown a decline in the number of homes sold (and an increase in number of homes on the market). Now more than ever, it is critical that you price your home appropriately and ensure it is as neutral & market-ready as possible so it appeals to the largest number of Buyers.
With interest rates decreasing over the last week or two, I'll be watching statistics closely for the fall months to see if we notice an increase in closings for September & October after a slower summer.
Considering selling your home now, in the spring, or even a year from now? Call me for a FREE Home Evaluation to discuss your options & how you can prepare your home to better your chances of it selling quickly & for the highest price possible!
.png)
.png)
