You’re ready to sell. Now it’s time to settle on when to sell. Deciding on the best time to sell your home involves more than just looking at market conditions and statistical data. Where you live has an impact on that decision. What your family has going on at the moment must be considered as well.
So, first and foremost, put your family’s needs first. If your schedule happens to be a bit flexible, have a look at some of the research we’ve found on when the best time to sell is.
BEST MONTH TO SELL A HOUSE
You may find some conflicting data out there about the ideal month to sell a house, but generally speaking, late spring is best. The weather is great and families often like to move into their new home before the school year starts. ATTOM Data Solutions’ analysis of single-family home and condo sales over the past 10 years found that selling a home in late spring, specifically in May, nets a 13.4% seller premium. (Source) Not too shabby.
There are dozens of reasons why spring may not work, though — from family vacations to new jobs — so do what works best for your family. Keep in mind that seller premiums usually begin to decline in September when the average premium drops to 7.5% when many buyers with school-aged kids have likely settled into their new homes. (Source) And the busy holiday season is just around the corner. So, start prepping your home to sell in winter and plan to get it on the market in April, May, June, or July if you can.
BEST DAY FOR NEW LISTING
And when you’ve decided on a month, try to list your home on a Thursday. Why? According to Zillow, homes listed on Thursdays sell the fastest — and are 1.5% more likely to go above their asking price. (Source)
The first Sunday after your home hits the market is a great time to host an open house. Sundays work well for most families because many people are off work. If it fits with your schedule, though, consider back-to-back open houses on Saturday and Sunday. Doubling the eyes on your home in one weekend could make a big difference on how long it stays on the market. Just avoid holiday weekends.
BEST TIME OF DAY FOR OPEN HOUSE
Most open houses are from 1-3pm. That time works well for many families. On the other hand, having your open house at the same time will mean you’re competing with all the other ones in the neighborhood. As an alternative, consider starting your open house before 1 pm or after 3 pm to give potential buyers the opportunity to see your home without having to rush from showing to showing.
Late spring, even early summer, is the sweet spot for home selling. And if you’re in a position to get your home on the market at that time, great! You’ll get many eager buyers in the door for showings — and be in a nice place to negotiate should multiple offers come in. But if a springtime sale just doesn’t work for your family, it’s okay. Homes still sell fast in the fall and winter months. And yours will, too.