Timing can be everything when selling real estate. The real estate market is cyclical. There are long term cycles and short term cycles. For most home owners the long term cycle has little importance. People buy and sell their property when they need to. Often when they are relocating for a new job, or upsizing to a larger home to accommodate a growing family. But the short term cycle can have a greater influence on a sale.
The real estate market ebbs and flows throughout the year. Within this yearly flux there is a noticeable pattern. The market is more active at certain times of the year and selling a home at the peak times can help to ensure a quicker sale and a better price.
The yearly real estate cycle can be seen very well from data on internet searches for real estate terms. Google Trends shows this well with 3 years of search data. This pattern is described below.
The Yearly Real Estate Cycle - The short term cycle is influenced by the activities of both buyers and sellers and seasonal influences throughout the year. The market is most active in the spring and early summer. This is the period when there are the most buyers looking for real estate and the most sellers have their properties on the market. But the activity begins well before the bulk of these transactions occur.
The New Year = Information Gathering - At the beginning of the year people are starting to think about their plans to buy or sell. At this stage they begin the information gathering phase. Sellers are researching the market to determine their asking price, and they are beginning to do last minute upgrades to the property. Buyers are looking at the market to determine their budget and see what types of properties are available in their price range. Buyers are often "tire kickers" at this stage and not willing to commit to a deal just yet.
Spring & Early Summer - At this time of year the market begins to become very active. Sellers have finished their renovations and upgrades and are placing their properties on the market. Buyers begin actively looking for real estate to purchase. The activity at this stage becomes competitive. Buyers want to find their best opportunities before others do. This drives prices up. Spring and early summer is the best time of year to sell real estate... (Adopted From http://www.realestatesoldeasy.com/SellingRealEstate/When-to-Sell-Real-Estate.htm)
