People buy homes year-round, but when it comes to putting your home up for sale, is there an optimal time to list? According to an analysis of supply, demand and seller’s outcomes in “Zillow Talk: The New Rules of Real Estate”, the “magic window” to list your home is between mid-March and mid-April.
Data shows homes sold in the U.S. from mid-March to mid-April sell approximately 15 percent faster and for 2 percent more than the average listing, a national premium worth more than $4,000.
The best time to list your home, according to Zillow’s analysis, follows weather patterns in major markets. For instance, markets with warmer climates like Miami are best to list in early March. Sellers who live in cities that need time to thaw out from a harsh winter are best off listing in mid to late April.
Apart from winter climates and mid-school year moves, there are several reasons it’s better to list between mid-March and mid-April, including:
- Influx of other listings. Nine out of ten homebuyers use the Internet as one of their primary research sources. Because MLS sites list from newest to oldest, if you list at a time where listings are surging onto the market (typically in the last weeks of February and early March), your home gets pushed toward the bottom.
- Attracting serious buyers. The spring months of homebuying are typically competitive when it comes to the amount of buyers in the market.
- A timely sell. The first significant drop in the time listings typically spend on the market occurs in late March, according to Zillow. This is also the time of year when the difference between sales price and list price is most positive.
If you’re thinking of listing your home and buying again, download our free Upsizing/Downsizing Guide for information about selling your home, finances, affordability and more.