Here's Why May is the Best Time to Sell

2020 through 2022 witnessed extraordinary years for the housing market in Spokane. The demand for homes was exceptionally high, while the available inventory remained low, leading to a departure from the typical impact of seasonality.

Although some of those conditions still persist, recent factors such as increased mortgage rates have brought about a return to normalcy in the market. As a result, the seasons are once again playing a significant role, and if you are planning to sell a home in Spokane, it's essential to consider their influence.

It is widely known that late spring and early summer mark the busiest time of year in most real estate markets, and this period also happens to be one of the best times to sell a home in Spokane. During this time, the lush landscaping accentuates your home's curb appeal, attracting potential buyers. Moreover, more individuals enter the market at this time since people tend to wait out the winter due to the holiday season's busyness and unpleasant weather. By the arrival of spring, these conditions have improved, and with late spring marking the end of the school year, many households are actively looking to buy homes and settle in before the next academic session commences.

The increased number of buyers in the market during late spring makes it easier to find the perfect match for your property. The heightened competition among buyers also improves your chances of receiving a full-price offer. In fact, if multiple offers are made on your home, you stand to benefit financially from a bidding war.

While late spring is generally considered the ideal time to list your home for sale in Spokane, the question remains: which specific month is the best choice?

Statistically speaking, May emerges as the most favorable month to sell a home in Spokane. Listing your home in May ensures a faster sale due to the higher number of buyers in the market and allows you to maximize your financial gain.

But how much more money can you make?

On average, homes sold in May secure a 12.6% seller premium, meaning they sell for 12.6% above their market value. Considering that the average U.S. home value is $334,269, selling your home in May could potentially put an extra $42,117 in your pocket.

Imagine what you could do with an additional $42,000! Let's explore the possibilities together.