If you are thinking about selling your home in the Pacific Northwest, you should learn when the best or the worst time to list your home, in order to sell as quickly as possible and upgrade to a new home. According to a recent article in MarketWatch, listing your home at the wrong time could mean difficulty selling, and it could also mean that you are not taking advantage of the recent research on homebuyer trends. The article discusses a new study conducted by Zillow which argues that the best time to put your home on the market is the two-week period from May 1 through May 15. What else do you need to know about listing homes for sale and getting your property sold?
Listing Your Home During the First Half of May Could Mean a Quicker Sale and Higher Profit
According to the Zillow study, homeowners who list their properties for sale during the first two weeks of May this year are likely to see a couple of major benefits: these properties “sell on average two weeks faster and for $2,400 more.” In other words, timing impacts the time it takes to sell the home, as well as the profit on your investment. The Zillow study reached these calculations by analyzing home-buying trends in the 24 largest real estate markets in the country.
Why is Early May the Prime Time to List Your Home for Sale?
First, consider a first-time purchaser who wants to buy a property that is ready for move-in. As the study highlights, by May, many of those buyers may be in a position where they have already submitted multiple unsuccessful bids and want to move quickly on a property. In such situations, those potential buyers may be most likely to put in a high offer during the first two weeks of May and, in fact, may ultimately spend more than they wanted to as they engage in competition and/or rush to finish the deal before the summer begins.
Listing Over the Weekend for the Best Premiums and Fastest Sales
Many of these potential home buyers we mentioned above are eager to move on a property. Moreover, they want to move in before summer when kids are on vacation from school and moving prices climb. While a lot of people search for homes on websites like Zillow everyday, sellers should also think carefully about the day that is best to list the property. In addition to planning for a listing in early May, you may sell your home even faster and for a higher premium if you list over the weekend. More potential buyers are searching for homes on the weekends, and they are visiting more properties and open houses.
What happens if you fail to list your home during an ideal period and on a weekend? In short, you may learn that it will take longer for your home to sell and you may end up settling for less than your asking price. Online listings get 50 percent (or more) of all views during the first week the properties are on the market, and more than 75 percent of sellers who fail to find buyers within the first month of the property being on the market will end up taking an offer below the initial list price for the home.
Learn More About New Homes for Sale and How a New Home Builder Can Help
By listing your home for sale between May 1 and May 15, you increase your chances of selling your home quickly and for the highest price. If you are able to make enough money on the sale of your home, you may be able to afford your dream home. To learn more about buying your first home or working with a new home builder to move into a brand new – never been lived in – home, contact us today. We build new construction communities in Oregon, Idaho, Washington!