Can Sellers Get a Higher Price For Their Home During the Summer?

An analysis was conducted in order to determine if there was a relationship between the time of year a house goes on the market and the sales price of a home in the east area of Dallas, Texas in 2008. The date of listing is classified into two categories; Summer Break which occurs from April through August, and School Season which is September through the following March. The study found that there was a significant relationship between time of year and sales price. Since there is a higher volume of sales during the summer time, there is a greater market where buyer preferences are able to be met and regardless of property type there was an effect. When entering an interaction variable between season and property type, the study found that single family homes sold during the months of April through August added a premium of a little over $10,000 to the price of the home. This could account for families that are more apt to move during the summer months while kids are between school.