Best Time to Sell Your Home: Realtor.com’s Data Reveals the Optimal Week
Factors Influencing the Best Time to Sell
Realtor.com, a leading real estate website, has analyzed historical data to identify the best time to sell a home. Their research considers several factors, including:
- Market pricing
- Historical competition rates
- Selling time
- Buyer demand
Based on these factors, Realtor.com has determined that the week of April 14th-20th, 2024, is the optimal time to sell your home this year.
Benefits of Selling During the Week of April 14th
Selling your home during this specific week offers several advantages:
- Competitive pricing: Historical trends indicate that listing prices are around 10% higher than average at the start of the year. This means that homes could be valued up to $34,000 more than they would have been if sold at the start of 2024.
- High buyer demand: Despite higher-than-average housing prices, buyer demand for homes has historically been high during the week of April 14th. On average, homes have seen around an 18% increase in listing views during this week in the past.
- Faster selling time: The heavy buyer competition means that homes tend to sell around nine days faster on average during the week of April 14th.
- Lower listing price reductions: Listing price reductions are also below average during the week of April 14th, falling nearly 25% when compared to the average number of homes that suffered a listing price decrease.
Low Seller Competition
In addition to these benefits, seller competition is predicted to be low during the week of April 14th this year. Realtor.com historically reports that there are actually fewer sellers on the market during this week than on average, dropping nearly 14%.
Mortgage Trends
When considering the best time to sell your home, it’s important to also consider mortgage trends. Mortgage rates are expected to decline later this year, which will likely lead to even more buyer demand.
Historical Home Prices
For both buyers and sellers, Realtor.com reports that historical prices peak during the month of June. While this may incentivize sellers to list their homes during June, the seller competition during this month is also extreme. This is another reason why Realtor.com recommends selling your home during April, when you’re more likely to beat out the competition and sell your home quickly for a higher-than-average price.
Tips for Preparing Your Home for Sale
Realtor.com recommends that prospective sellers prepare their homes for a spring listing around one month or less before the week of April 14th. To get your home ready for sale, consider the following tips from The Home Depot’s experts:
- Declutter and depersonalize your home.
- Make necessary repairs and updates.
- Enhance curb appeal by landscaping and painting the exterior.
- Stage your home to make it look its best.
- Price your home competitively based on market conditions.
Additional Resources
For more information on the best time to sell a home, you can view the official Realtor.com report on their website. The Realtor.com buyer and seller tools listed in the report are also available to use on their website.