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The Best Month to Sell A House in Evanston
What is the best month to sell a house in Evanston?
The best month to sell a house in Evanston is influenced by the seasonality of the Evanston real estate market. Weather, school calendars and the holiday seasons drive the Evanston real estate market. Analyzing the historic ebbs and flows of monthly data in Evanston real estate, reveals clear trends. Understanding these trends reveals the best month to sell a house in Evanston and provides strategic advantages to sellers.
Let's Consider these Statistics:
- "Under Contract" Activity by Month
- Showing Activity by Month
- Total Homes on Market by Month
Monthly Under Contract Activity
The number of homes that go “Under Contract” in a given month represents the number of buyers who have made an offer that was accepted. To capitalize on the best month to sell a house in Evanston, ideally we want your home on the market during the months when the greatest number of buyers make offers (keep in mind that buyers start shopping 30-60 days in advance of making an offer).
Unlike other suburbs that have clear winning months, Evanston "under contract" activity has a range. In 2019, May led the way with 64 "under contract" homes. This is really late in the season for so many buyers to be making their purchase decisions. March won with 67 "under contract" homes for 2018. And, in 2017, April won again with 61 "under contracts".
No clear winner! In 2017 and 2018, March and April, held the highest number of offers accepted. Under contract activity tapered off significantly through the remainder of the year dwindling to very small numbers by year's end.
Notice the slight bump in activity in the fall. Often, fall buyers look for bargains, while others desire to buy before the cold weather and holidays set in.
Monthly Showing Activity
Historic showing activity can provide insight into the best month to sell a house in Evanston. We like to monitor showing activity for our listings so that we can identify any unusual trends.
There are often historic trends in various suburbs with activity peaking in March and trailing off by year's end. That is not the case in Evanston. For example, in 2018, showing activity peaked in March but then peaked much later in 2019. IN 2017, showing activity stayed pretty concistent until September. The one thing to note is that there does appear to be some correlation between heightened showings and under contract activity (surprisingly, this is not always the case in other suburbs). This means it is important to track activity as you bring you home to market to help identify when it makes more sense to remain confident and push price and when it makes sense to consider a more flexible strategy.
Opportunity alert! While showing and "under contract" activity can differ from year to year, it is always strong in March so March is a reliable month to be on market in Evanston. Notably, March often has fewer total homes exist on market (see below chart) which provides an additional advantage to sellers with higher demand demand and lower supply!
Total Homes on Market By Month
When determining the best month to sell a house in Evanston, consider the historic total number of homes on the market each month. In other words, this statistic demonstrates the level of competition (ie., the supply of homes) to which buyers have access.
Notably, while the numbers tend to vary, March typically has a lower supply of homes than other months. With decent strength of showing activity in March, it is a reliable month in which to list a home. March list dates benefit sellers because less competition exists at exactly the same time that demand peaks (ie., more showings occur). In conclusion, the data suggests March is the best month to sell a house in Evanston.
And the Best Month to Sell a House in Evanston is. . .
If we have to pick the best month to sell a house in Evanston, March gets the win! Of course, remember that homes priced well and in move-in condition will sell quickly and for closer to list price at nearly any time of the year. So don't worry if you must list at a different time of the year. March may be the best month to sell a house in Evanston but it is not the only month in which many homes sell!
Improve Your Chance to Maximize Profit and Minimize Hassle with Compass Concierge
To increase the sale of your home, take advantage of our exclusive seller program: Compass Concierge. With this unique program, Compass will front the cost of nearly all prep work to get your home ready to sell. You merely pay that money back at closing with no interest or fees.
Get more information about the Compass Concierge program here. If you are thinking about a spring list, get prepared now!
A Note for Evanston Buyers. . .
Given the data, what is the best month to buy a house in Evanston? It depends on your goals. . . A house priced well and in move-in condition will sell fast at any time of the year. Although rare to find great value and move-in ready, if you find one don't delay! It is much better to strike quickly to avoid a multiple offer situation.
The greatest number of move-in ready homes will generally come on the market in early spring (February - April). Of course, sellers are feeling confident at that time and buyer competition is highest so it is hard to get a good deal but you do get first pick!
If you would prefer to get a "deal", many gems can be found in late summer and early fall. Inventories are still high and buyer activity has slowed so sellers get nervous and are often more inclined to negotiate rather than carry a house through the winter. Late summer/early fall is the best time of the year to get aggressive with offer price.
Maximize your Options with Compass Bridge Loans
To provide you with maximum power and every advantage when purchasing the home of your dreams . . . Buy your next home before selling your existing one with Compass Bridge Loans! The Compass Bridge Loan program grants security to sellers, allowing them to purchase their next home before their current home sells and resulting in a higher sale price, since well-staged empty homes generally sell for more than homes that are occupied.