Have you been waiting for the perfect time to strike when it comes to listing your home? As we head into the heart of spring, you might be surprised to know that the best week to list your home is right around the corner!
In this article, we're taking a look at the best week to list your home according to realtor.com and what you can expect to see with this window of opportunity.
The Best Week To List
In a recent study by realtor.com, experts examined housing data and trends from the previous year, excluding 2020 due to it being an atypical year, to determine when the best week is to sell your house. The research revealed:
“The week of April 10-16 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”
Therefore, if you've been waiting for that golden window of opportunity, the time is quickly approaching!
You might be wondering what makes this particular week so ideal? That's a great question and we're diving into the detail on that next.
The 4 Reasons Why
The week of April 10-16 is the perfect storm of ideal scenarios for anyone looking to sell. Let's take a close look at these contributing factors that make this upcoming week such a great one to list during:
Increased buyer activity. According to the study done by realtor.com, this same week in 2021 saw 29% more views per listing than the average week throughout the year. This year, there is additional fuel for the fire with the interest rates rapidly increasing after the Federal Reserve’s recent announcement. As more buyers hit the gas on their home search before rates climb too high, the activity on your listing is sure to increase accordingly.
Fast market pace. Due to increased demand, homes are selling quickly. However, the activity seen this week, in particular, has historically resulted in a quicker market pace. In 2021, homes sold 13.2% faster than the average week. We’ve already seen a decrease in days on market according to the National Association of Realtors (NAR), with homes staying on the market for an average of 18 days, compared to 19 days one month ago and 20 days one year ago.
Above average prices. According to the study done by realtor.com, homes sold this week have reached prices 1.4% higher than the average week throughout the year and are typically 10.3% higher than at the start of the year. If we take this data and apply it to what we’re seeing in 2022, the average list price could reach $5,000 above average during this peak week and $39,000 more than the start of the year.
Less competition. Inventory has continued to be one of the major struggles for the housing market. According to the study, the typical trend for this optimal week is that there will be even fewer homes available. The study predicts 6.2% fewer homes on the market during this week. This means that your home will have the spotlight should you decide to list this week.
We do have one last additional note for you to keep in mind. Prices are not expected to hit their peak during this week, although they are expected to be above average. What’s important to remember is that while prices are projected to hit peak levels a little later in the year, so will the competition. Historically, prices peak at the end of May (+12.2% compared to the start of the year in 2021), and the number of sellers also soared to 1.5 times higher than the start of the year (+48.4% in 2021). By beating this spike, you’re still likely to get a fantastic offer on your home without the competition, meaning that you have more power over the terms of the deal than you might down the line.
Bottom Line
If you’ve been holding off on selling your home, now is the perfect time to make that move. With more buyers on the market and less competition, you'll be ideally situated to have a speedy transaction and get the most for your home. If you have any questions about the next steps, give us a call! We’d love to provide you with a free home value estimate and help you get set up for a successful home sale.
