When it comes time to list your home, timing can be everything.
Want to sell fast and fetch the highest price? Wait until spring has sprung. The days are longer, flowers are in bloom, tax refund checks are in the bank, and homebuyers are out in droves.
Best Time to List Your Home
According to data from Zillow.com, homes sold between mid-March and Mid-April sell about 15 percent faster and for two percent more than average listings. In temperate climates, mid-March is the sweet spot. In areas with harsh winters, it’s best to hold off on putting that sign in the yard until temperatures begin rising in mid-April.
Sales peak in the spring, which is why about 60 percent of moves happen during the summer months.
The Downside of Selling in Spring
There is a downside to selling in the spring: shoppers aren’t usually buying under pressure like those in the off-season. They aren’t in a rush, and they may have plenty of homes to choose from.
If your home needs work, they may pass. Before you list, do what you can to make your home look its best, starting with a bit a spring cleaning, of course.
So is there a day of the week that’s best to put your home for sale? Yes! Your listing should be activated on a Thursday, so it’s ready for the weekend shoppers.
A hot new listing will have real estate agents lining up with their buyers right away, especially if there’s not a lot of inventory in a desirable neighborhood. If you list on a Monday, your home will sit on the market for five days before Saturday, the prime house hunting day.
Why The Day of Listing Is Important
It may seem odd, but as days on the market add up, buyers often assume something is wrong with the property because it’s still on the market. The fewer the days on the market, the more likely you are to get a full-price offer. If you list on Thursday and don’t get an offer that weekend, the following weekend you’ve only been the market nine days, still in single digit territory.
Some experts recommend waiting to list your home until one or two others have put their homes for sale in your area. These listings and sales will help give you more accurate comparable data. If the most recent listing in your neighborhood was a distress sale in January, supporting your sale price for an appraisal with could prove tricky.
If you must sell in the off-season, you’re not totally out of luck. Many buyers who are house-hunting in the fall and winter are motivated and know exactly what they want. Often they are making a move of requirement, and must get into something quickly. These buyers may be willing to agree to close quickly with few or no repairs, allowing you to walk away without investing additional funds to make the deal happen.
These are some of the considerations for the timing of your house sale. Just remember to wait and put your house on the market when it suits your needs. While spring can often be the best time, you can do well during the off-season as well. Just make sure the timing works for you.