Planning to sell your home? You might want to scramble and get it on the market soon.
The best time to list your home this year is the week of April 16-23, according to Realtor.com. That is when a combination of factors come together to make it the optimal time to sell.
Those factors include:
- Higher prices. Historically, homes have sold for 2.1% more during this week of April than the average week, and 12.1% more than at the start of the year.
- Fewer homes for sale to compete with. There are usually 9.3% fewer sellers on the market than during the average week.
- Faster sale times. Historically, homes sell 18% faster than during the average week.
- Strong buyer demand. Historically, listings get 16.4% more views than during the typical week. Last year, views surged 32.5% higher during this week in April than in a typical week.
In a summary of the findings, Danielle Hale, chief economist for Realtor.com, says:
“Many home shoppers kick off their search in the early spring, and they often beat the majority of home sellers to the punch. 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.”
If you have not begun preparing your home for sale, however, it might be too late to have it ready by April. Around 60% of homeowners take as long as three months to get their home ready for sale, according to a recent survey from Realtor.com.
In addition, more than half of sellers — 56% — said it took them more time than they expected to list their home.
If your home is in need of repairs, don’t rush it to market: It might not pay off to skip fixes.
In the summary of the findings, Hannah Jones, economic research analyst at Realtor.com, notes that higher prices and soaring interest rates mean today’s buyers are “being a bit more picky than they were the past several years.”
Before you put your home on the market, make sure you understand the “12 Costly Mistakes Home Sellers Make.”
Chris Kissell
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