How To Know the Best Time to Sell your Beautiful San Jose Home

The San Jose real estate market is one of the hardest to predict. Frequent fluctuations occur from constantly shifting interest rates, market conditions and especially home values. For homeowners in San Jose, one critical, elusive detail must be considered each year: when is the best time to cash in on your investment? When looking to sell a home in San Jose, you want to maximize the returns; hence, it is important to identify the month or even the week when you should list your property for the best results. In this article, I’m going to examine in detail the best times to sell.

When is the Best Month To Sell a House in San Jose?

Historically, the best month to list a house for sale in San Jose has typically been March, or earlier – when the spring season begins, usually around late January. Data from real estate portals like Zillow show that sellers listing their homes around this period will get up to 22% more views than sellers listing their homes on average weeks. Additionally, it has been noted that homes tend to sell 17% faster in peak months compared to average ones.

While the historical data does not lie, it is vital to note that other factors and circumstances can also influence the prices of homes on the local market. Conditions such as mortgage rates, tax considerations, available supply of competing homes for sale, stock market gains or losses, consumer sentiment and job growth could have a tremendous impact on the prices of properties. In San Jose, and most of the Bay Area for that matter, the best time to sell a home is (almost always) during the early part of the spring, between February and May, when sellers typically enjoy the sweet spot of the supply-vs-demand imbalance. That is, in the early part of spring, buyers are out in full force but inventory has not yet built up, leaving sellers in the enviable position of having many buyers out looking at homes but relatively few available for purchase.

If you’re looking to take full advantage of the peak selling period, aim for the last two weeks of February. Of course, every year is somewhat different, but if you target a late February list date, you’ll leave yourself some slack in case there are weather delays or other issues which get in the way of having your home ready for market. Of course, it is not always possible to prepare your house and get it ready for the market in the exact month or week, but using the existing prediction patterns, you can know how to take full advantage of the market in the next year.

When is the Best Day to Sell?

While days of the week may not be taken into account by many home sellers, they could make all the difference in whether you will close the deal or will have to wait a little bit longer. According to data from Zillow, the best day to list your home for sale is Thursday. With all other factors being constant, homes listed on Thursday tend to go pending faster compared to any other day of the week. This is because this day is close enough to the weekend, and as such, buyers have ample time to make plans for touring new houses or exploring new listings with their agents.

Homes listed on Sunday generally take the longest to sell compared to any other day. Saturday and Monday are also not very optimal days to sell since they are only marginally better than Sunday. Not only do homes listed on Thursday sell faster, but data also shows that such properties will likely sell at slightly higher prices. On the other hand, homes listed on the weekends will sell for a price slightly below the asking price.

This typically works out well with the home preparation work; you’ll have a full weekend to put the finishing touches on your house, including the landscaping and curb appeal. This will allow you to take photographs and video on Monday; the digital media will be ready by Wednesday, so they can be loaded onto the real estate portals for world-wide exposure on Thursday.

How Seasons May Affect When to Sell a Home in San Jose

Seasonality has a significant impact on the San Jose real estate market, with certain times of the year proving more favorable for buying and selling homes. Typically, the market heats up in spring and summer, when warmer weather and longer days make it easier for buyers to tour homes and attend open houses. This period often brings more listings and increased buyer interest, driving up competition and prices. Conversely, fall and winter months usually see a slowdown in activity, as holidays and cooler weather lead to fewer new listings and, often, more motivated sellers. This seasonal rhythm can present opportunities for both buyers and sellers, depending on timing and market conditions.

Selling in Spring

According to reputable San Jose REALTORs, many people tend to shop for homes as the weather gets warmer. As such, it is advisable to prepare your home for sale in the cold winter months so that as spring approaches, your home is ready for viewing. With many people receiving tax refunds, the weather warming up for moving, and a summer break coming up for the kids, it’s easy to see why Spring is an ideal time for buyers and sellers. Conduct all the necessary inspections, repairs, cleaning, landscaping, and photography to ensure that nothing is left to chance when you get the right buyer.

Selling in Summer

Many people think that Summer is also a peak selling season – but it actually ranks third, behind winter. That’s because in San Jose, the people who have money to buy the very expensive homes here also have money to go on well-deserved vacations. There are enough people who go on vacation that it considerably weakens demand during the summer months. It seems as though every summer, San Jose REALTORs feel like the market is falling off a cliff – but it’s just settling down. I find that June, July, and August can be some of the most challenging months to list a house in San Jose.

Selling in Fall

The fall market is the second-best season of the year to sell a home in San Jose. This is due largely to the return of buyers who have put home-buying on the back burner for the summer. The fall selling season is typically brief, and it begins about a week after Labor Day, and is usually done by about the first week of November. Some years, we will actually see the highest sale prices of the year recorded in October, which means the homes probably went under contract at some point in September.

Selling in Winter

Traditionally, winter is the slowest month for real estate, making it the worst time to sell – statistically, at any rate. Homeowners who have listed their homes for sale in November and through the holidays are typically sellers who are very motivated to sell, and they may be open to accepting lower prices. This is why we tend to see some of the lowest sale prices of the year recorded in the winter months.

Consider the Market Conditions

Months, days of the week, and seasonality are all crucial factors to consider when selling your home, but it is also essential to consider the state of San Jose’s local housing market. Is it a buyer’s or seller’s market, and how do you adapt?

Selling in a Buyer’s Market

As the name suggests, a buyers market refers to market conditions where there are many homes for sale as compared to people looking to buy. As such, the buyers have the upper hand in determining the market prices. With more homes up for sale, properties are likely to stay on the market for longer before a potential buyer is found. In such conditions, the sellers may have to make additional concessions or sell below what they had thought of as fair market value for their home.

Selling in a Seller’s Market

A seller’s market is the opposite of a buyer’s market in that there are more potential home buyers than units for sale on the market. Here, the sellers have the upper hand in the market as they will often receive multiple offers for their homes. In such conditions, you can expect to sell your home quickly and receive the full asking price – and many times, quite a bit more than list price.

Consider the Mortgage Rates

Mortgage interest rates hit historic lows in 2021, but they have since bounced back and are presently around their historic long-term average. However, this drop set a precedent for many home buyers since it signified the unpredictability and the volatility of these rates. With higher mortgage rates, buyers have to dig deeper into their pockets to get their dream homes. When the rates drop, homebuyers have more buying power and are, hence, likely to meet the asking price set by the sellers on the market.

With rates so much higher than they have been in recent years, many buyers are eager to seize on any appreciable drop in mortgage rates – let’s say any drop more than about 0.25%. If you see a sudden and sharp drop like that, you’d be well-advised to get a buyer into contract fast – because sharp drops are often short-lived.

Selling for Personal Reasons

While it is important to consider external factors before selling your home, ultimately, the best time to sell is a personal decision. This goes a long way to explaining why many homeowners choose to sell even at times that wouldn’t be considered advantageous, for example, during the holidays. There are different individual factors that may come into play when deciding whether to sell or not to sell. Factors such as job changes, family reasons, and generally feeling ready to let go should all be considered. Here are some personal factors that you should always keep in mind.

Lifestyle Changes

One of the key reasons for selling a home is changes in your lifestyle. Here, it is crucial to consider factors such as a growing or a downsizing family, job changes, relocations or changes in taste and preferences. Factors such as job changes will have a stricter deadline, while family-related or changes in preferences may provide more time to take full advantage of the beneficial market conditions.

Financial Benefits

A home is one of the major lifetime investments that you may make. Over time, you may make several improvements to your property, and as such, it may have gained substantial equity. The value that your property has accumulated may be enough to make a down payment on a new home, start a major investment or give you a comfortable cushion for retirement. Cashing in on your investments is one of the major reasons that homeowners consider before selling.

Emotional preparedness

No matter the reason for letting go of your beautiful home in San Jose, it is vital to ensure that you are emotionally prepared for this step. Even when selling for logical reasons like downsizing after all your kids have grown and moved out, letting go of the memories associated with your home can be hard. The emotional attachment that you have built not only with the home but also with the neighborhood can be hard to sever. Take your time and consider every factor to ensure that you’re comfortable with selling.

Timing is not as Important as Strategy

A lot of San Jose homeowners think a lot about timing the sale of their home, but spend little or no time at all thinking about the strategy they will use to get the highest price and best terms the market can provide. Some have the sense that there’s just a “market price” for their home, and that no matter what they do, they’ll automatically get get highest price the market has to bear, given the time of year or date that they put their home on the market.

The truth is much more complicated than that. In fact, you can get an amazing price and fantastic terms when you sell your home in San Jose, regardless of the timing or season. The key to achieving the highest price isn’t timing so much as having the right marketing and pricing strategy that gets the best buyers in your door quickly and getting them to compete for the privilege of buying your home.

As mentioned earlier, the “secret sauce” of the spring real estate market – where sellers tend to get more money for their homes than at other times of year – is because the balance of supply vs. demand tends to favor sellers during the spring market. But you can create those same conditions any time of year, and get incredible results with the sale of your home regardless of the day, week, month, or year.

More Tips to Make the Most Out of Your Home Sale

In order to make the most of your home sale deal, there are several other factors that you need to consider:

Get an experienced real estate agent: While you may opt to sell your home yourself, getting a qualified and experienced real estate agent to handle the sale for you can tremendously increase your chances of success. Real estate is a highly localized industry, so you will need an experienced San Jose realtor with neighbourhood-specific information to help make a decision on the most strategic way and time to list your home.

Consider the prep time: Selling your home is more challenging and complex than it sounds; you need to ensure that your property is cost-effectively prepared for the sale. Make any key repairs and updates to your home in order to maximize the returns. Even when you don’t have any major repairs to make, it is important to be prepared in advance since even simple tasks like decluttering can be time-consuming. Ensure you have finished all home improvement projects before you put your property on the market.

Don’t discount the value of professional photographers: taking photos of your home may seem like the easier route. However, professional photographers will do a much better job capturing your home’s beauty. Considering most homebuyers look for listings online, it is vital to ensure that you put your best foot forward from the beginning.

Selling your home is a major step. Once you have completely considered all the factors, find a reputable and reliable real estate agent who can help you throughout the process. Compass is the #1 real estate brokerage when you want to sell a home in San Jose. Not only will they help you through the preparation process, but they will also provide tips on how you can make the most out of the deal. With a wide breadth of knowledge on San Jose real estate, Compass know precisely what buyers are looking for and are familiar with the market trends so that nothing will catch you by surprise. Visit them today if you are looking to sell or list your home within the next 6-12 months.

When is the Best Month To Sell a House in San Jose?

When is the Best Day to Sell?

For Best Results