When is the best time to sell my Chicago home? That’s one of the most common questions Best Chicago Properties Realtors® are asked.
Is It Best To List A Chicago Home In Spring, Summer, Fall Or Winter?
Often, we’ll get this question but worded differently. Like “Is spring the best time to sell my house?” And of course spring is a great time to sell your house.
But it’s not the only time. Every season has its unique pros & cons to selling your house.
Research shows that every season has its unique pros & cons to selling your house. Information you can leverage to your advantage when listing your home in Chicago. So if you’re asking yourself, “When is the best time to sell my Chicago home?,” read on. And prepare yourself no matter what season you find yourself selling.
Here We Review The Pros And Cons Of Selling In Each Season
Is spring the best time to sell my house in Chicago?
It’s likely few cities anticipate spring like Chicago does. It gets warm again, farmers’ markets are out in force, baseball is back in season, and street festivals start to get planned. So everybody’s out, celebrating the survival of another winter. And eager to find their new home before the next winter strikes.
Large buyer pool
In terms of Chicago real estate, selling your house in spring means you’re hitting the ground running during the traditionally busiest season. So your major advantage is you’re reaching a giant buyer pool. This gives you more flexibility in holding out for the right offer. Or adjusting strategy if you don’t get traction right away. Selling a house in the spring means less pressure to get it done right away. It gives you confidence that the right home-buyer will come along. From the perspective of showing your listing, spring means your landscaping will greet potential buyers at the door. It affords the opportunity to make your outdoor space shine.
But a double-edged sword
If you think spring is the best time to sell a house in Chicago, remember it’s a double-edged sword. Since you’re getting access to a larger pool of buyers, you’ll have to redouble your effort to stand out from the crowd. It’s true that a larger pool means you can hold out for a better offer. But it gives savvy buyers the opportunity to do the same.
Practically speaking, it’s unlikely spring will be dethroned as the best time to sell your Chicago home. That’s simply because it affords the largest buffer before winter. It’s important that home sellers note that if they’re also looking to buy and it’s predicated on selling their current property, they need to plan accordingly. And it’s important they play an active role with their Realtor® to make that happen.
Professional photography is important
If you’re not planning on selling your house in spring, take the time and make the effort to get professional photography done towards the end of the season. We highly recommend ThreeSixtyChicago which (full disclosure!) is owned by our managing broker. You will love the work.
Is summer the best time to sell a house in Chicago?
When summer is in full swing, it’s hard to argue against Chicago’s endless curb appeal. Warm weather and bright skies means people will be out in force. Between bouts of beach time and languid walks around historic Chicago neighborhoods, many of the people who waited out the spring rush will be looking for their new home now.
Like spring, summer will give you plenty of opportunities to showcase your home’s landscaping and outdoor spaces. If you haven’t gotten professional photography done yet, make it happen before the season’s end. And to best prepare for listing in any season, read the top ten questions to ask your real estate agent before listing your home.
Summer brings two unique buyer groups
Summer can be the best time to sell your house because of two unique buyer groups: parents trying to buy a house and move in before the school year starts and people whose leases are expiring. Both provide unique challenges and rewards if courted properly. So when selling your home in the summer, think about catering to first-time buyers or buyers with very little time on their hands: consider creating an ideal listing experience that can propel your buyer to make a decision.
Competing for attention against Chicago’s summer activities
The challenge of selling your house in summer means you’re now competing against all the other things Chicago has to offer during the summer time (in addition to similar listing competition from the spring). The above advice is given because buyers with lots of time on their hands will likely drag their feet on even viewing homes, much less putting in an offer. Chicago is a city with almost too much to do every summer; you’ll want to excel at standing out.
Is fall the best time to sell a house in Chicago?
When the days start cooling off and you overcome the initial panic of seeing the first red leaves, you know fall is upon you. Slowly, you start to realize that your friends who had been losing their heads all summer were right: Winter is coming!
A brief resurgence in the market
But luckily, it’s not too late to list your home. The fall has some truly outstanding reasons that justify it as a candidate for the best time to list your home. First of all, fall still has a window of expiring leases and back-to-school families trying to close before their year turns upside-down. Furthermore, all those procrastinators who were focused on enjoying their summer now need to make their new home a priority. The various groups coming together make fall uniquely suited to a brief resurgence of the real estate market before Chicago winter hits. If you’re interested in understanding what your home is worth, get a Bestimate and find out.
Show well and sell fast
With winter around the corner, though, you’ll need to show well and sell fast. Once you reach October, your chances of closing drop dramatically. Common objections you’ll face, even if unsaid, will be potential buyers who are remiss to close on a property whose extras or amenities won’t be enjoyed for a few months. This is especially true for those selling a Chicago condo, when buyers typically want to start enjoying their outdoor pools right away. For those selling a single-family home, the deeper you get into fall, the less impact your landscaping will have.
If you haven’t taken your photographs yet, get it done early in the season. The unique fall palette will give a warm and inviting look to your listing photos. This is your last chance.
Is winter the best time to sell a house in Chicago?
That’s it, here it is: the time when all Chicagoans become power-walkers, spending as little time as possible outdoors. It often seems like the whole city is indoors watching burly men in tight outfits perform feats of athleticism. And once they’re done with their Pure Barre class, straight home to watch football.
If you haven’t listing your house yet, you’re either worried or confident. Whichever one you are, you’re right. Chicago’s winter, though not ideal, is still a contender for the best time to sell your house. It all depends on your strategy.
The winter’s opportunities come with an overall lack of competition. Comparatively speaking, few houses list in the winter. As long as you’ve got a strong marketing plan and solid numbers to back up your list price, you’ll have access to an exclusive pool of buyers that are either unafraid of a winter move or planning ahead for a warmer climate.
If you find your listing dragging in early winter, consider pulling it off the market for a few weeks. Sellers often underestimate how all consuming the holidays can be. In fact, it may be better to wait until the New Year. If you decide not to sell in winter, you can always use this time to complete the best Chicago improvements to add value to your home.
If you’re banking on the winter being the best time to sell your house, though, bear in mind it will take a decent amount of work. This is especially true of single-family homes, where you’ll be shoveling snow quite a bit to keep up your listing’s curb appeal.
And that’s the key, your listing has to show buyers what their new home will look like during the most desirable months in the city.
You got your professional pictures earlier in the year, right?
Conclusion: Each season has it’s advantages for selling your Chicago home
We hope this has provided you some answers to the important question, “when is the best time to sell my Chicago home?”
If you’re looking for help developing a marketing plan strategy for listing your home, or seeking more detailed advice on the best time to sell a house in Chicago check out our Home Seller’s Guide or contact us and let’s get started!