I’ve been interested in answering the question, “what was the best month to sell a home in San Diego?” Now that we are over a week into 2016, we can examine the real estate statistics for all 12 months of 2015. Conventional wisdom in the real estate community is to list your home in the spring is summer. The summer is the hot season, right? Well, let’s look at the numbers.
I wanted to compare the relationship between the number of active listings and pending sales in every month of 2015. If we can understand the percentage of listings that went pending – entered the escrow process – out of the number of active listings, that would tell us the best month to list a home. Basically, it’s the month that gives you the highest probability of finding a buyer.
The table below summarizes my findings based on all homes sold in San Diego county, excluding manufactured/mobile homes.
|Month||Active Listings||Pending Sales||% Pending|
Source: Sandicor, Inc., San Diego County’s Regional Multiple Listing Service.
The Best Month to Sell a Home is…
It’s March, if you categorize the best month as the one with the most pending sales relative the the number of active listings. 47.5% homes for sale in March went into escrow. That’s almost half of the numbers of homes for sale, which is pretty amazing.
What’s interesting in the chart above is that December and August had the same success rate. In both months 37.7% of the homes for sales went into escrow. A winter and summer month had the success rate as far as the relative number of homes sold.
If you don’t live in San Diego, you can still use this information to help you determine when to sell your home. Share this post with you local real estate agent and ask her or him to do this same exercise to determine the best month in your market.