There’s one week in April that will be the best time to sell a house this year, Realtor.com says. Here’s why!
There’s one week in April that will be the best time to sell a house this year, Realtor.com says. Here’s why!
29 Mar
29Mar
This price bump translates into big bucks. A seller who takes advantage of the best week to list could collect about $7,400 more at the closing table than if they put their home on the market during a typical week. Plus, homes are expected to list for a median of $34,000 more than they did at the beginning of this year.In addition to the extra cash, sellers can expect more buyers to see their homes on Realtor.com. Listings generally receive 18.4% more views during the best week to list than in the rest of the year. More competition might drive up prices as well, through bidding wars and offers over the asking price. Home buyers aren’t simply window shopping during this week either. Data suggests for-sale homes will fly off the market in nine days, or about 17%, faster than an average week."[Housing] inventory levels and price reductions climb later in the year," says Jones. "But buyers eager to buy soon may find success earlier in the spring as the market starts to pick up."To pinpoint the best week to list, the Realtor.com economics team examined market behavior from 2018 through 2023, excluding 2020, an abnormal year due to the onset of the COVID-19 pandemic. The team factored in competition from other sellers, how long a home spent on the market, views per property, list prices, and the likelihood of price reductions to the analysis. The calculations did not include mortgage rates, which do not follow a seasonal pattern.
A gloomy 2023 gives way to a brighter 2024
Buyers need to see more homes for sale
If inventory levels remain relatively low, time on the market might drop as buyers vie for fewer homes. (Getty)Homeowners who worry that listing during the busy spring market will put them on the wrong side of supply and demand need to know one crucial data point: The housing market needs inventory—and lots of it.There were about 7.9% more homes for sale at the start of 2024 than over the same period in 2023. As a result, there were the most homes for sale this January since 2020. However, the number of homes for sale was still 39.7% lower than before the pandemic."This gap means there continue to be opportunities for sellers who enter the market this spring," says Jones.Sellers might also face less competition. Potential sellers should note there are usually 13.7% fewer home sellers during the best time to list compared with an average week."If inventory levels remain relatively low, time on market may pick up faster as buyers vie for fewer homes," adds Jones.Savvy sellers might also want to take advantage of the best time to list, knowing that while spring is the beginning of the prime real estate season, it’s not the peak."This means that this week sees more buyer demand per property than later into the spring and summer," says Jones.
Sellers should start prepping now to list their homes
All of this means that sellers who want to get their homes onto the market during the best week to list should start prepping ASAP.This could mean making repairs, painting the walls and cleaning the carpets, planting some flowers out front, and whatever else it takes for sellers to get their homes in tiptop shape. More than half of home sellers took a month or less to get their homes to list, according to a Realtor.com survey.Buyers often start looking at listings early in their home buying journey, meaning a seller who lists early will reap some early-bird rewards."There’s an awakening in spring, a motivation for people to go out after months of hibernation," says Wilson. "They’ve monitored the market all winter and are now primed and ready to take action."