This week could be the best time to put your house on the market, according to a new report suggesting April 18 to 24 is the sweet spot for more potential buyers, less competition, a higher price, and less time on the market.
Properties listed the third week in April sell 14.1% faster than average, according to Realtor.com’s 2021 Best Time to List report. This year, that works out to just 59 days on the market, eight fewer than typical.
The review also found homes listed on April 18 sell for 2% higher than a typical week and more than 10% higher than the beginning of the year. If 2021 follows true to form, that works out to $7,500 and $36,000, respectively.
To get a clear picture of the ideal selling time, researchers analyzed median list prices, lengths of time listed, the likelihood of a price reduction, competition from other sellers, and interest measured by views per property on Realtor.com.
To avoid having the data skewed by the pandemic’s impact on the real estate market, they used 2018 and 2019 listing information.
“Unlike 2020 when COVID upended the spring home-buying season and pushed buyer interest to later in the year, this year’s housing market is following more typical seasonal trends,” said Danielle Howe, chief economist with Realtor.com.
In 2018 and 2019, there were 5% fewer sellers on Realtor.com this week than usual—and homes that were listed got 11% more views.
“For most sellers, listing sooner rather than later could really pay off with less competition from other sellers and potentially a higher sale price,” said Howe.
“They’ll also avoid some big unknowns lurking later in the year, namely another possible surge in COVID cases, rising interest rates, and the potential for more sellers to enter the market.” (Realtor.com predicts interest rates could reach 3.4% by the end of 2021, which could seriously cool buyer demand.)
Looking at the 50 largest markets in the U.S., April 18 is the sweet spot for the most markets—13 regions in all—including Nashville, New Orleans, San Francisco, and St. Louis.
March 28 is the best week in 11 major markets, including New York and Los Angeles, while July 4 is the best time to list a home in Miami, one of the hottest real estate markets in America.
Whenever you put your “for sale” sign up, though, your home still has to offer something buyers want. In the wake of the pandemic, that means flexible spaces and access to nature.
“Home offices and lush outdoor spaces…have become extremely important,” said Rachel Stults, deputy editor for Realtor.com. “If you have these things, make sure you highlight them.”
And be sure your home is move-in ready, Stults adds.
“Do repairs and upgrades now, before you put your home on the market,” she offers. “Buyers don’t want to wait to move in.”