What is the best time to sell a house in California? As you’ve probably guessed, it depends on which part of California. In this article, we’ll take a look at several areas of California, specifically The Bay Area, Los Angeles, and San Diego.
California has seen several huge market shifts over the last few years, and it seems as though it’s headed toward a buyer’s market at the end of 2018. Inventory is increasing, which could mean that the almost 5% 30-year mortgage interest rate could be leveling out and on the decline as well.
This is bad news for the sellers of the state, however, as the sale prices begin to drop as more people opt to rent than buy. If you are planning on selling your house, you can get your best shot by aiming for these months.
Best Time to Sell A House in California
The California housing market varies based on your location. To give you a more rounded view of what is the best time to sell a house in California, we’re going to cover San Francisco, San Diego, and Los Angeles.
Best Time to Sell for a Profit
Sellers in San Francisco and the rest of the Bay Area have seen quite a profit this year! Although the housing market seems to be leveling out and on the decline, data shows that October is the best month to sell if you want to make a profit in The Bay Area.
Homes closing in October make an average of 6.08% more than the annual average. Data also shows it takes about two months to close on a house in The Bay Area, so list in September to take advantage of that rise in price.
Not far behind October closing months for The Bay Area are April and June, followed closely by November.
San Diego’s data shows quite a different story from San Francisco. The best month to sell for a profit in San Diego is June with a 2.94% increase over the annual average.
June is followed quickly by December, which chimes in at 2.33% over the annual average. December does see a drop in the volume of sales over June as well, which may play into the .61% decrease.
If you’re looking to sell for a profit in Los Angeles, you’ll want to close in July, where you’ll enjoy a 2.77% profit over the annual average. Transactions usually take around three months in Los Angeles, so you’ll want to list in May to take advantage of the profit.
July is trailed by May and June, which are at 3.7% and 4.26% above the annual average, respectively.
Best Time to Sell Fast
Selling fast is a top priority for many in California.
If you are in The Bay Area, aim to list your home in April for a May close date that is seven days faster than the annual average. The next fastest close month is July, at four days faster than the annual average.
Avoid closing in January, which adds on an extra 19 days over the annual average, and December, which adds nine. March through August look like your best bet for a quick close if you’re looking for a range.
The San Diego market mimics The Bay Area’s on a quick sale date, with some minor differences. If you are in San Diego, prepare to list your home in April for a May close date that is five days faster than the annual average. The next fastest months to sell in are June and August at four days faster than the annual average.
As with The Bay Area, avoid selling in January– which adds 14 days to the annual average– and December– which adds eight– if at all possible.
You’ve got options for a fast close in Los Angeles, however. You can list in April for a June close that is four days faster than the annual average, or list in June for an August close that boasts the same four days faster close. The only difference between the two is that June has on average about 1,000 more transactions than August.
Avoid selling in January to skip out on a 16 day longer selling period and February to miss a 12 day slower close than the annual average.
Best time to Sell Fast for a Profit
If you’re planning on enjoying the best of both worlds, here is the break down of the best times to sell fast for a profit in California:
- The Bay Area: Sell in October for a close month that is three days faster than the annual average and shows an average profit of 6.08% higher than the annual average.
- San Diego: Sell in June for a close month that is four days faster than the annual average and shows an average profit of 2.94% higher than the annual average.
- Los Angeles: Sell in June for a close month that is five days faster than the annual average and shows an average profit of 4.26% higher than the annual average.
Tips for Selling Your Home in California
1. Complete a Thorough CMA
As demonstrated above, the area that you are in dramatically effects how quickly the house sells and what price you can get for it. Even the neighborhoods vary. Your best bet is to do your research thoroughly on similar homes in the area that are listed or sold. Compare the length of time on the market as well as the price, and make sure to double check the updates for value.
A CMA is very important in selling your home in California. If you feel uncomfortable completing it yourself, get a local expert real estate agent to tackle it for you.
2. Weigh Your Priorities
If your priority is fetching a high price, be patient with your house sale. While you might be able to get a quick sale for a high price, in a leveling market, you usually have to pick one. Decide which one you need more, and plan to see it through.
Seeing it through may mean dropping the price if you need to sell quickly or waiting out an entire season if you want more money. Talk to your real estate agent about your goals.
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3. Find the Right Real Estate Agent
Selling your home in California is about more than timing the market. The market has also thrown many experienced real estate professionals for a loop, and you’ll need an expert on hand to advise about setting a price and the best time to list. Hiring a real estate agent who knows the area well and is an expert in their field can help you beat the market averages any day of the year.
The opposite is true as well. Make sure your real estate agent is willing to go to bat for you and do the work required by interviewing them.
If saving money is important to you, hire a discount real estate agent like those at Clever. Clever agents are local experts and full-service, which means you can expect nothing less than high-quality marketing, pricing, and service from them.
Timing the housing market can be tough, especially if you want to sell quickly for top dollar. By listing in April to make the most money, May to sell the fastest, or June to meet in the middle– you’ve got a pretty safe bet of meeting your goals.