If you’re planning on selling your home, choosing the right time to do so could mean the difference between a sale and a fail.
A recent report from Realtor.com shows the best time of the year to list your home.
The results come from a Realtor.com analysis of list prices from 2018, 2019 (2020 was excluded due to the onset of the COVID-19 pandemic) and 2021. Those prices and other metrics, like the number of listings and days on the market, were then compared to benchmarks from the first full week of the year.
“Percentile levels for each week were calculated along each metric, and were then averaged together across metrics to determine a Best Time to List score for each week,” the report says.
Here Is the Best Time To List Your Home
According to Realtor.com, on a nationwide basis, the best time to list your home is the week of April 10-16, 2022. That week “is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year,” the report says.
If 2022 follows the usual seasonal trend, the national median listing price for April 10-16 could go $5,000 higher than the average week and nearly $40,000 more than the beginning of the year, according to the report.
What are some of the housing market conditions that favor April 10-16? The report lists the following:
- Lower competition: This week saw 12.9% fewer sellers than the 2021 average, which is attributable to the market’s low housing inventory.
- Fewer price reductions: “A typical trend would mean 13.8% fewer price reductions during this week compared to the average week throughout the year,” the report notes.
- Faster sales: Compared to an average week, homes during this week sold 13.2% faster. In 2021, homes were on the market typically for 40 days. That’s six days faster than the year’s average.
That week in April is the best time to list your home in most markets analyzed by Realtor.com, but its report has some other favorable times for metro areas around the country:
|Market||Best Week Start Date||Increase in Listing Price vs. First Week of the Year||Increase/Decrease in Views per Property vs. Average Week|
|Atlanta-Sandy Springs-Roswell, Ga.||4/10/2022||8.7%||16.0%|
|Austin-Round Rock, Texas||4/10/2022||10.0%||29.4%|
|Buffalo-Cheektowaga-Niagara Falls, N.Y.||4/10/2022||19.1%||38.3%|
|Hartford-West Hartford-East Hartford, Conn.||6/26/2022||11.3%||-9.4%|
|Louisville/Jefferson County, Ky.-Ind.||4/24/2022||13.3%||5.6%|
3 Home-Selling Tips That Can Help Your Listing
Of course, selling your home takes more than good timing. There are several things you can do to prepare your home to be sold. Here are just a few.
1. Boost Your Home’s Curb Appeal
Could the walkway in front of your home benefit from a good power washing? Are there still leaves in your gutter?
Take a good look at the front exterior of your home and write down all the things you can do to beautify the property and not bust your budget.
2. Go With a Fresh Coat of Paint
You may also consider painting the rooms inside or even the home’s exterior. Nothing illuminates a home’s beauty like a nice coat of paint. Not only can a fresh paint job be pleasing to the eye but it can increase your bottom line.
A Zillow analysis found that homebuyers would pay 1.6% more ($5,000 on a $290,000 home) for a bathroom with light blue walls.
3. Opt for Modest Upgrades
You don’t have to break the bank to get your home in selling shape. Consider making some modest upgrades that will attract buyers.
Home improvement site Remodeling’s 2021 Cost vs. Value report shows upgrades for as little as $1,300 that could add value to your home.
No doubt you already know that listing your home takes quite a bit of preparation, but doing so at the right time could really help your wallet.