Time the sale of your home and call Tyler Moxley
April’s showers will bring May flowers — and the best time to list a home.
The best two-week period to put a home on the market is May 1 through May 15, according to a new study by real-estate website Zillow (ZG) Based on an analysis of 24 of the nation’s largest markets, homes listed during that time period sell on average two weeks faster and for $2,400 more.
Generally speaking, late spring will be the best time to sell this year because of the prevailing market trends, Zillow argued. This spring is shaping up to be the most competitive spring home buying season since the Great Recession — consequently, by late spring buyers may be more eager to get into a home if they’ve already suffered through multiple failed bids.
“As they linger later into the season, these buyers may end up spending more than they intended as they get wrapped up in competition and/or rush to conclude a deal before the summer months,” Zillow’s report stated. “This means late-spring listers can capture these perhaps frustrated buyers more quickly, and earn an additional premium.”
That premium will be significant in some cities. In San Francisco, Zillow estimated sellers could enjoy a $15,300 premium for listing their home in the first two weeks of May. But in some markets, the timing’s different. In Pittsburgh, for instance, the best time to list is the latter half of March.
Regardless of the time of year or market, the weekend is almost always the best time to list, with Saturday being the best day of the week on average, according to Zillow.
And disregarding these rules of thumb can lead to a longer selling process. A previous study from Zillow found that half of all the views an online listing will get in its first month on the market occur within the first week. Getting enough interested buyers is crucial in getting the best sales price, because competition will fuel faster and more attractive bids. Fewer than 25% of sellers whose homes don’t sell in the first month get their initial list price or more.
Original content here
Get Fresh Updates
We'll never share your email address and you can opt out at any time, we promise.