Historically, no. But California’s squeezed inventory and raging affordability crisis make it a peculiar market. 21,154 homes sold in September 2023. The median sale price was $789,000, up 4.8% compared to 2022. So, if you list your California house for sale now, you earn $37,872 more!

 

In fact, home prices have been rising in several metros across the Golden State since late summer. Prices rose 33.1% in Newport Beach. La Quinta and Tulare saw a 25% rise. The rising trend can get you more money which makes now the best time to sell your house in California.

Which is the Best Month to Sell a House in California?

The best month to sell your house depends on your goals as a home seller. There is a best month to sell and earn higher net proceeds. While there is a best month to sell your home fast.

Best Month to Sell Your House by Price

As per our research, April is the best month to sell your house in California. The median sale price of houses in April 2022, was $839,000 which is $50,000 above the median selling price.

Moreover, the sale-to-list price ratio was above 106% for nearly 71% of homes in California.

Homes listed in California between March and May spend the lowest days on the market. However, home prices in metro cities like Hanford, Santa Barbara, and Danville, etc. are found to increase throughout the year.

Best Month to Sell Your House by Speed

May is the best month to get a higher price for your property. Homes sit unsold for fewer days on the market between March and June.

California homes sold in May 2022, spend an average time of 19 days on the market, which is 10 days faster than the annual average.

Properties spending fewer days on the market is considered an indicator of a seller’s market. Of all, this is just a small portion of the overall picture. When should you sell also depends on the situation and location of your property.

Best Day of the Week to List a House For Sale in California

Thursday is the best day to list houses on sale in California. 21% of homes across the nation are listed on Thursday. Zillow’s data shows homes listed on Thursday get better exposure compared to homes listed on any other day.

People searching for houses plan their home tours on the weekends. So the pre-weekend listings are fresh in their minds. It makes sense to avoid listing your house at the start of the week. These homes had to stay for longer on the market.

To take advantage of the time game, consider listing your home on Thursday after 5 p.m. This is the time when most buyers and sellers return from work and start looking online.

There’s a good chance that buyers may see your brand-new listing.

Which is the Best Season to Sell a House in California?

Spring is the housing season of the year. As the weather warms more serious buyers start hunting and touring homes.

Moreover, families with school kids look forward to settle in their new homes during summer vacations. This increases the competition which benefits the sellers to sell at higher costs.

But in regions like California, summer still holds an opportunity. The maximum number of houses listed in spring have already been sold by this time. This reduces the competition in summer for home sellers.

Longer days in summer provide more exposure to your condos and townhouses in the Golden State. This enables longer showing time, to fulfill the high curb appeal of buyers.

However, by Fall you can come across more serious buyers looking to relocate due to job transfers. Such buyers are usually eager and have a strict home-buying timeline.

When is the Best Time of the Year to Sell a House in California?

When selling your property timing is everything. California has a dynamic real estate market. It can be challenging to sell your house in the current economic situation.

Late March and up to early July are considered the home-selling months. You can sell faster and earn higher sale proceeds during this time of the year.

Is Now a Good Time to Sell a House in California?

Late spring and up to July are considered the home-selling months. You can sell faster and earn higher sale proceeds during this time of the year. As per 2022 data, the median sale price of houses sold in April 2022, was $839,000.

Tips for Selling in a Seller’s Market

A seller’s market typically has less number of properties available for sale than the number of buyers. In this type of market, sellers can create a bidding war for their homes.

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  Plan to Move Out Fast: In a seller’s market, homebuyers will be open to make cash offers fast. This means you should be moving out in a few weeks after closing the deal.
• Have a Plan If the Appraisal Fails: In mortgage financing, the home appraisal value may come lower than your asking price. So you can lower your price to match the appraisal cost, reject the offer, or ask the buyer to pay the difference.
• » California Home Appraisal: Find out how much does home appraisal costs in California.

Tips for Selling in a Buyer’s Market

Buyer’s market is typically when the number of houses for sale is more than homebuyers. This allows homebuyers to demand lower prices of houses or ask for discounts on other costs.

• Offer Seller Concessions: You can offer seller concessions in several ways. You can cover a part of the buyer’s closing costs, mortgage closing costs, or accommodate repairs.
• Pay for Repair Costs: In a market with fewer buyers, you need to keep your house in good condition to attract a better deal. You should be prepared to pay for the repair costs in case the home inspection fails.

» California Home Inspection: Know what home inspectors look for in an inspection.

When Should You Sell Your California House?

At times selling a house is a personal thing. Here’s when you can consider selling your home:

When You Need a Change in Life

Sometimes some situations demand a change in your life such as:

• Job-Relocation: Say, you have received an appealing job offer, but it demands relocation. A situation like this can force you to sell your house in a slow market.Favorable Neighborhood: You may need a safe neighborhood for your family or a house closer to your kids’ school.Divorce: Homes often hold a sentimental value for couples. But after a divorce, you may think of selling it as a practical option.

When Market Conditions Are in Your Favor

Favorable market conditions can get a top-dollar rate. Some factors that affect the real estate market are:

• Economy: Economic indicators like manufacturing activity, GDP, employment data, costs of goods, etc. influence the market. When the national economy is slow, so is the real estate market.

Interest Rates: Lower interest rates boost the demand for mortgages. This affects the real estate sector, thus, increasing the price of the homes.

• Government Policies: Implementing tax credits, subsidies, and deductions are some of the ways the government can temporarily impact the housing market.

When You Are Financially Prepared

Here are a few factors to know if you are financially ready:

• Low Affordability: The average mortgage rate of 7.32% affects the affordability of buyers. Since 2022, the central bank hiked the interest rates 11th time by a quarter point. The interest rates are anticipated to increase even further.

Downgrade Your Expenses: If you are looking to save on your property taxes, homeowners insurance, and HOA fees. You can sell your bigger house and move into a smaller one.

Equity for New House: When your current home has procured enough equity to fulfill a healthy down payment, you can sell your house as is in California.