According to a recent analysis by ATTOM Data Solutions, there is actually a good, better, best day to sell your home. Research shows that 11 particular days of the year are deemed as the prime times to move property. The reason for this is that these 11 days offer home sellers premiums of at least 10%.
Among these 11 days, eight falls within June and three are in May. Summer looks to be the best time to sell a property.
June was presenting 9.6% above market value on average, while May presented an average of 8.3% above market value. These two months were revealed as the most popular months for prospective buyers to purchase a home.
Home sellers took notice, and are wise to consider this pair of 30-day windows as the best time for sales, especially if you want to have a greater chance of receiving the highest, most optimum premiums.
“Timing the housing market is far from an exact science. But home sellers who want to get the highest price should aim to complete their deals during the peak house-hunting season in late Spring or early Summer when the most potential buyers are out looking,” said Todd Teta, Chief Product Officer with ATTOM Data Solutions.
Teta followed this statement by then adding a slight word of caution and some sage advice: “This year could be a striking exception if many potential home buyers stay home because of Coronavirus social distancing or worries about job security. But sales price data going back almost a decade shows that transactions completed in May, June, and July typically net 7% to 10% over market value, which amounts to around $17,000 to $25,000 on the typical home nationwide. That’s a nice markup compared to other times of the year.”
Existing-home sales fell 17.8% month-over-month in April to an adjusted rate of 4.33 million, according to the National Association of Realtors (NAR).
April’s report represents the lowest level of sales since July 2010 (3.45 million) and the largest monthly drop since July 2010 (-22.5%).