Real estate is one of the most important investments you will ever make. Whether it's your starter home, forever home, or investment property, understanding the trends and fluctuations of Nashville's real estate market is crucial to gaining a profit from selling your property.
Over the past few years, Nashville has experienced a red-hot real estate market, where buyers faced an unprecedented housing shortage thanks to a combination of factors, including record-low interest rates, interruptions in supply chains, a massive influx of people moving to Nashville, and a record-high number of millennial buyers entering the housing market. In other words, it was the perfect storm for a seller's market. As interest rates have increased and supply chains have caught up, Nashville's real estate market is stabilizing. Yet, regardless of market conditions, sellers need to understand what's going on in the local market to earn top-dollar offers for their listings. And, of all the things that need to line up perfectly, timing is one of the most important.
Can seasons affect real estate sales? Absolutely! In fact, whichever season you choose to sell your house can affect your bottom line by up to 10%. So, when is the best season to sell luxury homes in Nashville? Here's everything you need to know about the Nashville housing market through every season.
Selling in spring
Yet, if you are a parent with school-aged kids, selling your home in the spring could be a struggle. Not only do you have to keep your home clean while working around their extracurricular activities, but you also have to carefully time the move so that it doesn't interfere with their school schedule. With this in mind, here are some of the advantages and
- Buyers are more active in the spring than in the fall or winter
- Spring has some of the most optimal weather in Nashville
- Blossoming flowers and trees increase curb appeal
- The spring market is generally more competitive (receiving more offers!)
- One of the busiest seasons for agents
- Moving companies charge a premium for springtime moves
- Buyers might not be as motivated
- More competition from other sellers
Selling in summer
That said, there are some things to consider when listing your house in the summer. While there are more buyers out there, there are also more sellers, so your property will likely have some competition. Here are some other pros and cons of listing your home during the summer:
- One of the most active seasons for real estate
- You will have more buyers schedule showings and show up for open houses
- Houses show well since curb appeal is at its best
- Home prices are at their highest in the summer
- You have the most listings to compete with
- Summer is one of the most expensive seasons for electric bills
- Listing your home could interrupt vacation time
Selling in fall
- Fall foliage will positively impact your curb appeal
- The weather isn’t nearly as hot and humid as it is in the summer
- The fall aesthetic will make your home appear naturally cozy and welcoming
- You can settle into your new home before the holidays
- Movers might not be as readily available as in the summer
- Fewer buyers are searching for homes in the fall
Selling in winter
Another advantage to selling in the winter is you will have more motivated buyers. Because winter is the least busy month, that means prospective buyers who are looking are more serious about submitting an offer, which is ultimately the goal of listing your home. Here are some other pros and cons of listing in the winter.
- There’s a greater sense of urgency from buyers
- There’s a lot less inventory to compete with
- It’s one of the best seasons to highlight your home’s energy efficiency
- Your agent can focus more attention on marketing your listing
- Brown grass and bare trees can harm curb appeal
- There are typically fewer buyers in the winter
When should you sell?
Selling your Nashville home
*Header photo courtesy of Shane McCarty