As the spring buying season approaches, there are some key weeks ahead that can benefit home sellers.
For a faster sale, late April is the sweet spot according to a new analysis from Zillow based on US housing markets. Homes listed then sell seven days faster at the median and typically bring a U$1,500 premium.
But if sellers can wait until the first two weeks of May they could pocket a $2,100 premium on their selling price on the typical US home. This is the best time to list in 17 of the 35 markets assessed.
If a couple of thousand dollars isn’t incentive enough, in some markets the premium could be as high as $24,400 in expensive markets – just for a little patience.
Real estate’s local differences though mean that in San Diego, the optimum time to list a home is the second half of March, while those in Cincinnati should wait until the first half of July.
"Home buyer demand ebbs and flows in a predictable cycle every year, which means that an astute seller can time their listing date like a sailor reading a tide chart to embark at high tide," said Jeff Tucker, a Zillow economist. "Many sellers are motivated to get their homes on the market by external forces, such as job moves or school years. But to the extent a home seller can target a certain time of year, it's hard to beat selling in early May, when listings fetch the highest sale prices and move off the market quickly."
The analysis also reveals that Saturday is the best day to list a home for sale, with more page views on Zillow than any other day and almost 25% more than homes listed on the worst day to list, Tuesday.
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