Sunday, March 12, 2017

Prime Time to Put a Home on the Market
















Many factors can have an effect on the sale of a home, including the timing of when the home is listed.  According to a recent evaluation by Zillow, the best time of the year to list a home for sale in the United States is between May 1 and May 15.  The analysis results show that homes listed during this period of time typcially sell for a higher price and at a faster pace (9 days faster than the average for the nation overall). 

The May 1 through May 15 timeframe is the best overall time frame to list a home for sale in the United States, though this window of time varies for some metro areas.  For example, the ideal time frame for homes to be listed for sale in San Francisco, California is May 16 – 31; the ideal time for Miami-Fort Lauderdale and Tampa, Florida is March 1 – 15; and the ideal time for homes to be listed for sale in Baltimore, Maryland is April 1 – 15, during which homes for sale tend to sell approximately 21.5 days faster than average.

Zillow’s analysis also indicates that there are ideal days of the week for the initial listing of a home for sale.  Homes new to Zillow on Saturdays are generally viewed 20 percent more during their first week on the market than homes that are listed on Zillow earlier in the week. 

“With 3 percent fewer homes on the market than last year, 2017 is shaping up to be another competitive buying season,” says Dr. Svenja Gudell, Chief Economist at Zillow.  “Many homebuyers who started looking for homes in the early spring will still be searching for their dream home months later. By May, some buyers may be anxious to get settled into a new home – and will be more willing to pay a premium to close the deal,” Gudell adds.

These are some important factors to take into consideration for homeowners looking to list their home for sale, but also for buyers and residential real estate industry professionals across the nation. 


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