The Best Time of Year to Buy and Sell a Home in Nashville, TN

Let's say you have found a trusted real estate professional in Nashville, TN finished all the pesky home improvements, staged your house well, and now it's time to list your house for sale. Right? Not necessarily. There is still a little bit that goes into this process, and just because you are ready to list your home doesn't necessarily mean it is the ideal timeframe to sell. Nashville homes will command a higher price if sold at the perfect time of the year.

This article will discuss the best time of the year to sell and buy your Nashville, TN, house.

Sell When There is the Most Buyers

You will want to list your home on the market when demand exceeds supply or when there are more buyers than there are homes on the market. The logic behind this is if there are more buyers, then that will lead to more competition for homes. The result will ideally be higher offers and more of them. As it goes for much of the U.S., there are a few times of the year when you will be able to count on the market to show plenty of buyers.

May and June

While the world thaws in the winter months, particularly in the northern part of the country, so does the buyer activity. This trend can be chalked up to many different factors. Firstly, the school year is nearly over, so families looking to relocate over the summer will flood the market. These buyers are usually on a time crunch and are, therefore, likely to make higher offers. This season is also classically known as "refund season," meaning many buyers will ride the wave of their tax refunds to the threshold of a new home. This can be helpful, particularly when people are feeling rich in cash, as they will be more inclined to put more money on the table.

Some buyers, however, will use spring housing searches as a means to get out and stretch their legs after a long winter. This does mean there are more browsers than buyers at any other time of year, but the right browser can always turn into the right buyer, depending on the house. More activities like open houses drive offers up as earnest buyers sense competition.

For these reasons alone, the May and June windows are lucrative for sellers. The consummate seller's market in Nashville sees the trend of a house selling for nearly $2k more than the average while the listing spent less time on the market.

A Sales Window For You?

It is not always easy money, as you are not the only seller who knows the best time to fish is when they bite, and not all buyers are easily hooked. When there are more homes on the market than at any other time of the year in Nashville, your property needs to impress. That means crossing all your T's and dotting all your I's with modern updates and cosmetic restyling that buyers will desire. As a seller, you should prepare yourself to hit the trail of marketing hard, as you will be one of many properties attempting to make a splash on the real estate scene. This can be intense, which is why we recommend the following:

Opt to Sell When the Inventory is Low

A seller's sweet spot might lie in the last few months of the year, as people are still looking to relocate, but the supply of suitable homes has diminished since the spring and summer bloom. The more buyers for fewer homes typically means higher prices. In Nashville, the months of October and November are favorable, but those months can yield lower returns on an off-year. However, December can also be prime selling time.

A reason for the boost in sales in December is typically because both buyers and real estate agents have more time on their hands. People who have been working all fall typically use the holiday seasons to peruse properties, while agents with fewer homes to show can spend more time selling all of them.

Because Nashville is a corporate hub, December prices can be driven up higher, as the first quarter of the year means job opportunities and relocations. Taking those steps often includes settling into a new home.

Avoid Low Buyer Demand Times

Anticipating buyer demands can feel fruitless at times. Particularly in a market as active as Nashville's, things can unexpectedly get hot. Traditionally, quiet months like April or August can all of a sudden go rogue with demand and ballooning home prices. Not even the best real estate agents can anticipate every spike, but there are some stretches in the calendar when it is tougher to maximize profit.

September 

This month is not necessarily a disastrous time to sell, but the competition is unlikely to drive offers through the roof. Families have usually settled into their digs at this time in preparation for the new school year, and the holidays are around the corner, meaning people are less inclined to move. Demand for less family-oriented residencies, like downtown condos or trendy townhouses, might not be as dependent on the school year.

January and February

It is unheard of to sell a home during these months; this is the timeframe when corporate job openings keep people in the market for new places to call home, and your house might benefit from low inventory during this time of the year. Don't be surprised if you struggle to close the deal of your dreams. Many different buyers don't want to brave the cold, and those who do go out will find the short days allow for fewer showings. For the right buyer to come into your home might be the late Christmas gift they can't resist.

Prepare for Your Selling Window

Take good care of maintenance and repairs in advance so you can get your property listed a month before the spike in demand. This will give potential buyers enough time to view your photos and to contact your real estate agent so when the rat race begins, your property is on everyone's wish list. Homes that don't get early a marketing bump might still see plenty of action but are rarely seen to have buyers competing to put an offer in.

Bottom Line

While these guidelines will help you in deciding when to sell your home or buy a new one in Nashville, they don't have all the answers. Every property has its selling window based on every unique situation. To discuss what your home's selling window might be, make sure to rely on your trusted real estate agent to help you during this time. Trust the professionals at Benchmark Realty to guide you in finding and settling down in the home of your dreams in the many beautiful historic neighborhoods that make up Nashville, TN, today.