Firstly, selling your home during the summer can result in higher sales prices. According to ATTOM Data Solutions, in July, the sales price above estimated market value can reach as high as 10 percent, and nearly 8 percent in August. This increase is due to the heightened demand and limited housing supply during this time, leading to market appreciation. Selling in the summer can prove to be lucrative for sellers.
Moreover, experts predict that this summer will bring strong market trends. As mortgage rates stabilize or decrease, it becomes more affordable for buyers, increasing demand. Additionally, the rise in millennial homebuyers, who accounted for 43 percent of buyers in the 2022 summer market, may further tighten the market and drive up prices.
Another advantage of selling during the summer is the enhanced curb appeal. The vibrant colors of blooming flowers, lush green lawns, and well-maintained trees and shrubs can make any home look attractive. If you have an outdoor living space, it can leave a positive impression on potential buyers and significantly impact their perception of the neighborhood and the home’s resale value.
Additionally, marketing your home in the summer allows you to highlight its features, such as a pool, deck, or spacious backyard for activities and entertainment. With the longer days and better weather, it’s easier to showcase these features through well-captured photos taken from various angles. Hiring a professional photographer who can capture the essence of your home can attract more potential buyers during their online searches.
It’s important to note that while summer is generally a favorable time to sell, market trends can differ based on location. That’s why consulting with an experienced real estate agent, who understands local sales trends and neighborhood-specific information, is crucial. They can help you determine if selling in the summer is the right decision for you.