It is obligatory to mention singing birds and blooming flowers whenever you talk about spring. And those natural phenomena actually do enter into the reasons why spring is a great season to list your home for sale! But they are far from the only reasons why now is a great time to sell your home in the greater Detroit Lakes, Minnesota area.
Let’s go over all of the advantages spring represents to home sellers!
Homes Sell for Higher Prices in Spring
When you compare the prices they bought and sold their homes for, people who sell their homes typically receive the best premiums during the month of May. Homes sell for an average of 5.9% more during that month alone. March and April are also among the top six months to sell your home, which exclusively span the spring and summer.
Homes Sell Faster in Spring
Higher prices are far from the only advantage to selling your home in the spring. Homebuyers become especially motivated in the springtime, and that means they’re less willing to wait for distant closing dates. Homes that are listed in May sell for an average of 18.5 days faster than they do during any other month of the year, and March and April both offer shorter market times than most other months as well!
Buyers Are More Active in Spring
It’s no secret that spring weather makes people want to get out into the world. Geoffrey Chaucer even alluded to that trend in the 14th century when he wrote The Canterbury Tales. Nicer weather certainly contributes to the higher number of buyers in the spring, but so does the ease of moving once the snow has melted and the greater number of homes that become available on the market.
Curb Appeal Is Better in Spring
There are no two ways about it: The Midwest looks pretty drab when all the plants are dead and the only two colors outdoors are white and brown. Your home becomes far more appealing to potential homebuyers once the aforementioned flowers and birds respectively bloom and sing, and that’s certain to strike the right chord with potential buyers who are especially motivated by curb appeal!
Moving Is Easier in Spring
This phenomenon works doubly in your favor. Not only are homebuyers more motivated to move once the ice has subsided – you will also find moving a whole lot easier during spring. You will also enjoy a whole summer to take care of any exterior remodeling or landscaping your own new home might require!
The Downsides of Selling in Spring
With any good must come some bad, which is why selling your home in the spring comes with some disadvantages you should also be aware of. These include:
- A more competitive market – You’re not the only home seller who wants more interested homebuyers and a higher price at closing. It usually takes a little extra work to make your house stick out in the saturated spring real estate market!
- Higher moving company rates – The law of supply and demand applies to moving companies as well. May through August is peak moving season, so moving companies’ rates typically increase by about 20% in turn.
- School is still in session – The Minnesota school year typically ends after the first week of June. If you have kids, then you already know how difficult it is just to get them to go to school on time. Unfortunately, throwing a move into the equation only further complicates a kid’s education.
- Realtors are typically busier – There are actually several good arguments in favor of selling your home during winter. One of these is knowing that the slower market will make your Realtor more available for anything that might pop up.
Your Realtor’s availability during the busy spring season largely depends on which brokerage you choose to list with. If you partner with Action Realty, you can rest assured you’ll always remain our top priority. Our dedication to our clients is just one reason why we have become one of the greater Detroit Lakes area’s leading solutions for buying and selling residential real estate, commercial real estate and vacant land, as well as beautiful lake homes.
If you’re ready to put this coming spring season to good use as you sell your property, then we welcome you to reach out to the Action Realty team today!