When is it the best time to sell your home in South East Michigan? I am sure many people think about that. My first thought is to tell you that you should be listing your home anytime after the snow and ice melt, and the trees and grass is turning green. Then you have to be ready to close before the start of school. So if the buyer is doing a mortgage that is about July 15. So I would say the early birds would be March 1 until July 15th to list your home.
I would also say having your home listed in December, January, and February are going to be our slowest monthes for closings. Simply because the December holidays keep buyers busy, and the cold, snow, and ice during those three winter months keep buyers inside unless they are really dedicated and want to move quick. Usually those three months are about a 1/3 less in home sales. People still are buying, and thousands of homes are selling even in those cold winter months.
Here are the residential home sales for 2016 & 2017 by month in Oakland and Wayne County
Jan 2438 2566
Feb 2421 2475
Mar 3361 3257
Apr 3287 3277
May 3786 3628
Jun 4292 4186
July 3731 3662
Aug 4148 4128
Sept 3674 3735
Oct 3670 3527
Nov 3263 3200
Dec 2900 3192
So if you look at the past 2 years January & February sales are the lowest. Part of that is because inventory is low at that time too, but the weather and holidays have a lot to do with it. Then sales creep up until June which is the best month, then a little slowdown in July and then another big month in August. Then home sales numbers start to drop off until December. Partly because people with kids in school are hanging tight and also a little lower home inventory. Usually in the winter we will see prices drop a little no matter if it is a seller's market or a buyers market. That is caused by the weather and the other reason is homes that have sat on the market too long. Some sellers start listing their home way to high and refuse to drop until it has sat on the market for months. Then buyers bring a lower offer when the home has sat that long. That is the importance of pricing your home right in the beginning. You do not want to chase the market down.
Homes sell all year round. There are always new homes coming on the market because there are divorces, deaths, and relocations where the sellers have to move.
I hope this has answer your question of when is the best time to list your Metro Detroit home. If you have questions about selling your home or would like to talk about possibly listing your home give me a call at 9248)310-6239 or email me at email@example.com