New Data Shows When To List Your Home
Ah, springtime. Flowers are blooming, birds are chirping – and homes are selling. Are you planning to sell your home, too?
According to new research by Zillow, the best time to sell you home is during the first two weeks of May to get the most out of your home sale. On average, homes across the nation that listed between May 1 and May 15 sold six days faster than the typical home and yielded approximately 0.7% more money at sale. At Zillow’s current average home value of $226,300, that’s an increase of nearly $1,600.
When’s the worst time to sell? The winter holidays appear to depress the average sale price. Homes listed during the last two weeks of December sold for $2,500 less (around 1.1%) than the typical home.
Even the day of the week can matter. Homes listed on Saturdays had the largest number of views on Zillow within the first week – 20% more views than homes that listed on Tuesday, the worst day to list.
Your Market May Differ, But Not Much
The optimum listing time stayed surprisingly constant across different geographical areas, clustered in the spring and summer. In 83% of the nation’s 35 largest metro areas, the best two-week window for listings was between the last half of March and the first half of June.
The best listing time for the remaining areas was in the first half of July – slightly surprising because those markets were mostly in warm-weather areas (Las Vegas, Dallas, Miami, Tampa, Houston, and Charlotte).
Why would houses sell faster and for more money during these months? Spring seems to represent positive change. Perhaps it’s the fresh greenery, or pent-up demand from prospective homebuyers not wanting to search during the winter months.
Zillow doesn’t speculate on why spring yields better results, but they do note the surprising consistency – by year as well as geography. The best two-week span for home sales in the previous year was the last two weeks of May.