March 16, 2023
If you’re thinking about selling your home, now is the time to prepare. That’s because a new report from Realtor.com says the best time to list a home is the week of April 16-22.
Even though April 16 is still weeks away, many sellers need time to prepare, repair and declutter before putting their house up for sale. A survey from Realtor.com and HarrisX found that 60% of home sellers took up to three months to get their home ready to list. That means the week of April 16 is approaching quickly.
Listing during this crucial week can make all the difference for those who are looking to sell quickly and for the best price.
Based on an analysis of national data, Realtor.com says April 16-22 is likely to offer the best combination of higher prices, fewer homes to compete against, faster sales time and strong buyer demand. In fact, Realtor.com says a seller who lists during the week could bring in $48,000 more than if they’d put their home on the market at the start of the year.
“Many home shoppers kick off their search in the early spring and they often beat the majority of home sellers to the punch,” said Realtor.com Chief Economist Danielle Hale in a press release about the report. “For this reason, sellers who list on the earlier side will get more buyer attention and therefore be more likely to sell quickly and for a higher price.”
Realtor.com made the selection by looking at data and seasonal trends from 2018-2019 and 2021-2022. Because of the unique year at the onset of the pandemic, researchers excluded 2020 numbers.
Analysts looked at active and new listings, listing prices, how long properties were on the market, likelihood of price reductions and number of property views. Each week then received a Best Time to List score with the week of April 16 receiving the highest score for a “balanced selection of market conditions that favor sellers.”
Here are the benefits of listing the week of April 16:
- Higher prices: The report said homes listed during this week historically had prices that are 2.1% higher than the average week throughout the year and 12.1% higher than the beginning of the year. That could equate to $8,400 above the average week for the national median listing price. The report did note that while prices tend to peak later in the season, there are significant benefits that come this week because of less competition from other sellers.
- Strong buyer demand: Generally, the more buyers who look at a home, the better. Historically, listings this week get 16.4% more views per listing compared to the typical week.
- Fast-selling homes: Historically, homes for sale during this week have sold 18% faster than the average week.
- Less competition from other sellers: During this week, there are typically 9.3% fewer sellers on the market compared to the average week. Fewer sellers could increase the chance of a successful close and favorable negotiations.
It takes most sellers between two weeks and six months to prepare their home for sale, according to the Realtor.com survey. As you think about selling your house, keep in mind that most sellers said it took longer than expected to get their property market-ready.
In preparation, sellers said they made repairs/updates to the home, cleaned/decluttered and searched for an agent. The most common repairs sellers made were:
- Minor cosmetic updates
- Carpet/floor replacements or refinishing
- Landscaping enhancements
- Full painting of the exterior
- Touch-up paint
- Full painting of the interior
- Appliance replacements
“In today’s market, it’s really important to price your home well and make sure that it looks its best in order to get top dollar and find a buyer quickly,” said Hannah Jones, Realtor.com economic research analyst, in a press release about the report. “There are still buyers in the market, but due to high prices and interest rates, they’re being a bit more picky than they were the past several years.”
To learn more about steps to prep a home for sale as well as the best times to sell in your neighborhood, contact a local Realtor. Your agent can provide you with information about buying/selling trends in your community as well as a customized sales and marketing plan.