When Is The Best Time To Sell Your Home On O'ahu?
Are you thinking about selling your property but you just don't know if now is the right time? In this episode of Aloha O'ahu, I’m going to walk you through the pros and cons of selling your property throughout the year on the island of O'ahu. We’ll look at all the factors so you can decide the best time that works for you.
When Should You Sell?
One of the questions I get asked all the time—especially in this crazy market—is when the best time is to sell a property on the island of O'ahu. The truth is that there really isn't a right answer—but you’ll have to decide for yourself once you know all of the factors. A lot of it will depend on your unique situation.
For example, people may want to move while the kids are on break from school. The start of the school year is extremely important to take into consideration for many potential buyers. That means people who want to move during school breaks will shop in May to close the property in June and July—or November for closing in December.
Another example is military buyers. Prime permanent change of station (PCS) season is over the summer. That may be a great time to put your home on the market, depending on the market you're in. Let's walk through the year here on O'ahu and lay it all out for you so you can decide.
Winter
Winter is a good time to sell your property. Unlike many parts of the mainland, winter weather on O'ahu is very mild, so it doesn’t hamper a buyer’s ability to physically move during that time of year. However, some buyers and sellers may not want to physically move over the holidays.
Working your closing around the holidays is a good point for negotiation, especially because it's still a good time for you to sell.
Summer
Summer is the best time to sell your property on Oahu, as you’ll have the natural advantage of allowing buyers to move in between school years. This could be a major plus for buyers with school-aged children who may have to shift schools with a move.
Another benefit of the summer is that it's usually the peak time of year for our military PCS moves. This means your volume of potential buyers may be higher. We tend to see the most real estate transactions throughout the summer.
Spring And Fall
Now that you know about winter and summer, what about fall and spring? Because we do not face weather issues during either of those times of the year, both spring and fall offer great opportunities for selling. There are still plenty of people who are looking for homes during these seasons, especially because not everyone has concerns about children and the school year, and there are plenty of people who move locally, so this is not a factor.
Remember, there are so many circumstances to consider. People who relocate on-island who already own property may have changes in their personal circumstances. I saw a lot of older people move into condominiums this past year after selling their single-family homes, as they decided it was too much work for them to upkeep.
People change jobs at all times of the year, and renters’ leases expire at all times of the year as well. I actually advise buyers to look during the fall and spring because there’s slightly less buyer competition during these times. However, there certainly is still demand. Unlike some other markets—especially those we see on the Mainland—there is no reason not to sell during the fall and the spring.
Do What Works Best for You!
Everyone has unique circumstances when it comes to selling their property. Whether it be family, timing, or moving, many circumstances come into play. My advice is to do what works best for you. The key is going to be to prepare your property as best you can and price it correctly. If you do so, it will sell regardless of the time of year.
I hope this provided you with some insight into things to think about if you're considering selling. If you have any additional questions about selling your home on the island of O'ahu or anything else, please do not hesitate to ask.
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