The Best Time to Sell Your House This Year, According to a Study
Updated: Apr. 17, 2023
Looking to list your home this year? The best week is quickly approaching.
If you’ve been thinking about selling your home but have been waiting for the right moment, it’s time to shift into hyperspeed. According to a study from Realtor.com, the best time of the year to list your home is quickly approaching. Here’s what to know about selling your home as fast as possible during the best time of the year.
What is the best time of year to sell your house?
According to Realtor.com, that time is NOW—literally. The week of April 16 to April 22 is the best time of year to sell your house. Spring is the high season for real estate activity with more buyers looking during this time than any other time of the year. Thanks to this, sellers have a higher likelihood of finding a buyer quickly.
The study went deeper into analyzing each week of the year to determine the best possible time to list your home this year is between April 16 and 22. This week is expected to have the ideal market conditions for sellers to find a buyer with a few key metrics peaking during this time.
The study looked at sales from 2018 through 2022 to determine this ideal week, but excluded data from 2020 since the pandemic caused uncharacteristic stats.
How was this week determined to be the best time of year to sell your house?
Realtor.com found the week of April 16 to 22 to be the sweet spot for sellers to list with a few factors working in their favor. The study dove into the analytics of how many other homes are on the market during this time, how the listing prices compare to other weeks, and how many days a home stays on the market when listed during this week. The analysis also factored in how many views each property was getting on Realtor.com, which can indicate buyer demand, or how many buyers are actively looking. Another key factor was looking at the likelihood of properties having a price reduction before selling.
Once these factors were calculated together, the week of April 16 to 22 looks to be the ideal combination of conditions for sellers to list in 2023.
What are the benefits of selling your house this week of the year?
The ideal market conditions could be great if you’re hoping to sell your home quickly. For starters, this week will have above-average buyer demand, meaning it’s more likely to sell quickly. When looking at all weeks of 2022, the peak week in mid-April had about 16% more buyers looking at listings on Realtor.com than any other week of the year.
This week also saw about 9% fewer listings which could spell less competition when trying to sell your home. Listings also sold 18% faster than any other week, and they sold for about $48,000 higher than the asking price compared to listing during the beginning of the year.
Overall, listing your property ready quickly to get on the market during this week could be the best time of the year.
Source:
- Realtor.com: The Best Time to Sell: The Week of April 16-22
Originally Published: April 17, 2023
