When is the Best Time to List my Home for Sale?
Selling your home is a huge decision. Every homeowner wishes that their investment, which they have diligently been caring for over the years, will reward them when it comes to sell. However, there is an optimal time to list your home for sale. In fact, listing your home at the right time could also impact how much you get it for as well as how fast it sells.
Best Time of the Year
As the snow melts and flowers start blooming, more and more people are in the mood to shop for a new home. Tax refunds also contribute to the shopping season. Zillow reports that homes sold from mid-March to mid-April sold almost 15% faster and for 2% higher than the average listing. In comparison to the national premium, that’s a profit of $4,000. Moreover, in high demand areas, such as San Francisco or New York City, that profit is significantly higher!
Summer is excellent for its extended hours and more time to attend open houses. However, this season is also the time that families take vacations and it may be too hot to shop comfortably. As a result, it is not an ideal option.
If you miss the spring season to list your home for sale, you may consider fall as a strong second choice. Many families may choose to buy in the early fall right before the school year begins and before winter.
Overall, winter is the worst season to list a home. Freezing temperatures and bad weather mean fewer people at open houses. However, if you live in an area that is warm year-round, you may have a different experience.
Best Time of the Month
While springtime is generally the ideal time to list your home, the exact date and month vary on your home’s geographic location. Where your house is located experiences different weather patterns. Interestingly, the best time to list follows weather conditions.
For example, if you are located in Miami, it starts to get warmer in March. As a result, the best time to sell is early March to mid-April. On the other hand, if you are located in Boston, the home shopping season may not begin until mid-April.
Best Day of the Week
Thursday is statistically the most popular day for real estate agents to reveal new home listings. Redfin analysts found that homes listed on Thursday sold the fastest, approximately five days faster than homes listed on Sunday.
This phenomenon may be because homebuyers may get an alert that a real estate site has added a new listing. These potential buyers then tour the listings to plan what homes they will visit over the weekend. As a result, listing your home for sale on a Thursday, and even on a Friday, can give your home listing a competitive edge.
Best Time of Day
The best time of day to add your home listing is in the afternoon. Given that most real estate agents choose to list on Thursday, Jennifer Myers, founder of Dwell Residential Brokerage, reasons that if you list in the morning, you will end up on Page 2 of the listing searches. As a result, by waiting until the afternoon, you will be one of the more recent listings and closer to the top.