A study points to a Saturday in May as a seller’s peak opportunity
- Homes listed between May 1 through 15 tend to sell nine days faster and sell 1 percent above the asking price, a new Zillow study says.
You may want to hide during the ides of March, but the ides of May are the perfect time to put a home on the market, says a new study by Zillow.
In 20 of the 25 metro areas studied, homes listed anywhere between May 1 and May 15 sold nine days faster and for up to 1 percent more than the asking price.
“With 3 percent fewer homes on the market than last year, 2017 is shaping up to be another competitive buying season,” said Zillow Chief Economist Dr. Svenja Gudell in a statement.
“Many [homebuyers] who started looking for homes in the early spring will still be searching for their dream home months later. By May, some buyers may be anxious to get settled into a new home — and will be more willing to pay a premium to close the deal.”
Mark your calendar for a Saturday in May
Moreover, Zillow’s research revealed the best day to place a home on the market is Saturday — listings that appear on Zillow’s site on this day garner 20 percent more views than early-in-the-week listings.
The second best day to list is Friday, when properties receive 14 percent more views.
Lastly, Gudell says sellers have to be cognizant of other factors, such as weather.
Sellers in Texas, California and Florida have more leeway in when to list their home due to warmer weather patterns. Also, sellers who live in areas without distinct seasonal weather tend to have little variation in sales price based on the month.