The time of year you list your home for sale has a huge impact on how quickly it sells and for how much. It’s a seller’s market in many parts of the country right now, with homes selling quickly and for more than asking price. Still, sellers can maximize their profits by planning to list at a certain time of year—starting this week.
According to a recent report from Realtor.com, the week of April 10 to 16 is the best time of the year to sell a home. Historically, homes listed in the spring sell for more than those listed during other parts of the year, but changes in the market since the Covid-19 pandemic have made this difference more dramatic than ever.
Statistically speaking, the best time to list your home is April.
According to a recent analysis by Realtor.com, homes listed between April 10 and 16 sold for 10.3 percent more than the median home price listed earlier in the year, $39,000. Real estate website Zillow announced a similar forecast, saying, “Nationally, in 2021, homes listed at the end of April will sell for a higher premium than homes sold during the rest of the year.”
Homes sell quickly during this period. According to Realtor.com, homes spent an average of 27 days on the market during the week of April 10 to 16 in 2021. In the year In 2021, 29 percent more buyers will view listings that week compared to the average week of the year.
Like Realtor.com, Zillow said listings on its site received more daily page views in April 2021 than the annual average. More interested buyers result in more competition, which typically results in higher home prices.
There are also a few historical reasons why buyers should start looking in April. First, they like to see in person what a yard and neighborhood looks like, so nice weather makes it much easier to tour a house and picture what lives there.
For those with school-aged children, moving in the summer months can be more convenient than moving in the middle of the school year because you can coordinate it to coincide with the end of school. Closing just before school lets out for the winter makes for ideal timing.
Related: Putting Your Home On The Market? First, do these 10 fixes
There is less competition from other sellers.
It is no secret that there is a dearth of houses available for buyers in many parts of the country, which is favorable for sellers. By listing this week, in particular, you can capitalize on this trend. Realtor.com reported that in 2021, there were 12.9 percent fewer homes listed on the site between April 10 and 16 compared to the average week, leading to the suggestion that there may be less competition among sellers at the same time this year.
How might this affect home buyers?
The secret is out and since April is the best time to list a home (not to mention the other factors that lead to a seller’s market), buyers will likely see more homes for sale in the coming weeks – a welcome change to the shortage. Inventory. But while having more options to choose from may reduce competition among buyers, if the data holds true, homes may still be priced higher in April compared to other months of the year. Higher rates and rising mortgage rates may put some buyers out of the hunt altogether.
Related: What adjustments are mandatory after a home inspection?
Ready to list your home? Do these quick fixes first.
Before listing a home for sale, there are some quick fixes that sellers can make that will go a long way in increasing the desirability of their home. Follow these tips to attract as many buyers as possible.
Related: Like Real Estate—What Buyers and Sellers Need to Know