These Are the Best Days of The Year to Sell a Home
Property database curator ATTOM Data Solutions released an analysis of the best days of the year to sell a home, which shows that nine days of the year offer seller premiums of 10 percent or more – eight of which occur in the Summer months, while one occurs the day after Valentine’s day.
According to the analysis, sellers who want to wait for the weather to heat up, will receive the hottest seller premiums as well.
This analysis of more than 28 million single family home and condo sales over the past eight years is evidence that Summer is when people are looking to buy, therefore if you’re looking to sell your home soon, now is the time to start.
“Since Summer is a time for vacations and outings, it’s no surprise that it’s also a time when people are most likely to move,” said Todd Teta, chief product officer with ATTOM Data Solutions. “Families start their home search when they know their kids will be out of school and when the weather is ideal for home viewing and moving, giving home sellers an upper hand in price negotiations.”
The analysis also took a more high-level look and showcased how seller premiums faired throughout the year and broke it out by month.
The months realizing the greatest seller premiums were as follows: June (9.2 percent); May (7.4 percent); July (7.3 percent); April (6.4 percent); March (6.1 percent); August (5.8 percent); February (5.6 percent); September (4.7 percent); November (4.0 percent); January (3.7 percent); October (3.3 percent); and December (3.3 percent).
For this analysis ATTOM Data Solutions looked at any calendar days in the last eight years (2011 to 2018) with at least 10,000 single family home and condo sales. There were 362 days that matched this criteria, with the four exceptions being Jan. 1, July 4, Nov. 11 and Dec. 25.
To calculate the premium or discount paid on a given day, ATTOM compared the median sales price for homes with a purchase closing on that day with the median automated valuation model (AVM) for those same homes at the time of sale.
The results showed that the best days to sell a home were May 24, May 31, June 20, June 21 and June 28.
We’d say this is just trivia, except for the fact that these days are clumped within late May and late June. We already know that June is the best month for achieving a good seller premium. So, it stands to reason that the successful home seller will be “most ready” from, say, mid-May until the early part of July.
This is the time when the seller would want the house and property looking their best. It’s when the seller will make the place available for showing – even at inconvenient times.
Of course, the successful seller will make a good effort throughout the selling season, and beyond. But this crucial month-and-a-half should get particular focus.
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