Feeling antsy about putting your house up for sale but don’t want to attract low-ball offers? You’re not alone. Many wonders if they should wait and list their home until a particular day or time of the year. So what is the best time to list a house? What is the best day to list a house? Is there a best day? Hang tight; we have some data on that that will interest you.
The best time to list a house
Take a look at the yearly calendar by the events most Americans do in those months. What trends do you notice? The first of the year begins with cleaning frenzies and resolutions, the spring smells of new beginnings, in summer vacationers tour the states, fall brings the school season in its wake, and winter is the holiday season. When would you be most likely to move? Probably the in the Spring--right after school gets out, but right before the season becomes busy with vacations. According to NAR, that’s when most Americans decide to shop for homes as well! In fact, the chart below shows May through July as being the top months for selling houses. In fact, there are so many people looking for homes during those months, that many times there are bidding wars on houses in the most sought-after areas.
What is the best day to list a house?
Now that we’ve determined that May through July are the best months to list your home, is there a best day to list? There are many different aspects to consider when listing your home, and it while it may not significantly impact the sale of your home, there are a few things to keep in mind in deciding when to list.
What day of the month is the best day to list a house?
Financially speaking, the best time to list your home is within a week after you pay your mortgage. Ideally, you will have sold your home by the 21st of the month, and will only have to pay one more mortgage payment on your home. Additionally, if you put an offer on a new house and your escrow date is near the end of the month, you may not even have to pay your first mortgage payment because of the proration. It is a win-win! You, however, still need to pay interest for that month.
What day of the week is best to list a house?
Everyone has a different opinion of what day of the week is best to list a house. The weekend is usually filled with family activities, so that’s not the best time to list. Monday through Wednesdays aren’t very good because everyone is too busy with work to look at homes. Thursday is the day many real estate brokers take off. That leaves Friday. If you list your home very early Friday morning, you can catch the top of the list right before real estate agents send out their weekly list of available homes to their clients.
What is my best day to list MY house?
There are other a few other factors to consider when selling your home that will apply based on your situation. Because each house is different, as is every city and location, these considerations will help you determine when is the right time for your specific case.
Showing your home, both in person and in pictures online, is going to go a long way in determining how fast your home sells. Consider the features of your home: are there specific features that stand out more in certain seasons? If winters are especially dark where you live, it may be a good idea to wait and take photos until the spring or summer, when the lighting is better. It is also a good idea to consider the outside of your home during particular seasons. If you're prone to mud or puddles, it is probably a good idea to hold out until the weather improves. One thing to keep in mind when listing your home right after the low sales of the winter is the comp appraisals. Make sure that your home isn’t the first one on the market for the season. Additionally, make sure your appraiser knows your neighborhood so your house is priced appropriately.
If you live in an area where the population fluctuates based on the season, it is generally a good idea to wait to list your home. You want to make sure you have the best chance of people seeing your house. For example, if you live next to a lake and the town closes down in the fall, make sure you list early to late spring to help you close well before the city does.
Homes do not generally sell very well around the Holiday Season-- no matter how romantic it sounds to get a new house for Christmas. As people scurry around picking out packages and enjoying each other's company, many of them are just wishing they were at home by the fire rather than thinking about which house they want. Most of the folks who are looking for homes during the cold winter months are those looking for a great deal or people needing to relocate for work. If they’re moving for work, they are motivated to buy a house and may decide to pay more for it. Not many are looking to pay high prices in winter, as the data clearly shows. If you must list your home in the winter, make it after the new year when people aren't as busy.
The verdict is in: late Spring- early Summer are the perfect months to list your home for sale for the highest price. Getting your start early in the month isn’t a bad idea, either. Data year after year proves that a little patience and the right timing will pay dividends when selling your home. While you wait, make sure your home is in great shape to give it that extra nudge on the market. Happy selling!
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