Next, the time of year depends on several factors. Right now is an AMAZING time because of the shortage of inventory paired with the low interest rates for buyers. It's a perfect storm. In general, there are more buyers looking in the Spring/Summer, and theoretically there are more homes on the market at that time which increases competition for your home. In practice, I find another big sales time is actually 4th quarter because while there are fewer buyers, the buyers are serious because they typically need to move before January. All of these tid bits are good to know, but the truth is a really good agent would be able to look at the market and look at your home and put a strategy together that is right for your property and your personal goals. Every one of my marketing strategies have been different for every home and client I have represented. Find the agent who takes the time to tailor fit it for you!
There is a residency requirement, too............ if you've lived in the home for the past 2 years, the requirement is satisfied.
(example: you, as a single, paid $300,000 (no improvements made) - sell for up to 550,000 = no tax owed........however........sell for over 550,000 and taxes will begin to kick in)
That was a VERY abbreviated explanation - a simple overview - so I'd advise you to speak to a tax adviser for more specific information on your specific finances.
You can also google this topic and find a lot of information.
Traditionally, Spring is the "best" time to list as buyers with children will want to be settled in before school starts in Sept.
That being said - Anytime is the "right time" to list if there is a buyer out there who wants your home, any buyers are out there all the time!
That time frame can also vary depending on where someone is located.
As for best time of year to list. Every market is unique, but generally speaking there is more activity in Spring. Unfortunately this brings more competition. Get with a local real estate agent and he or she can provide a market analysis for your property. Good luck!