If you could pinpoint the perfect day and time to list a home, which date would you choose? According to a recent Zillow study, there is a day on the horizon that is considered the best day to put a home on the market. Could posting a home on a single Saturday in May really make the difference? According to recent research, it just might.
Which Is the Perfect Month to List a Home?
According to studies performed by Zillow, most of the metropolitan subjects had the best success between May 1 and May 15. Homes listed during this two-week period tended to sell nine days faster than others, and often for up to one percent more than the original asking price.
May is often a great time to appeal to homebuyers because many have been searching since early spring. Months after they have started, they may have assessed their needs and become more anxious to find their dream home. This also means they are more willing to pay a premium price to settle in. If you have a seller not willing to budge on price, May is the ideal time to list.
In 2016, this was true because a record low number of homes was available for sale as spring kicked in. A small inventory could indicate why homes are selling more this time of the year. This year’s inventory could be a different story, but it is important to consider your local statistics as well.
Another factor to consider is that May is nearing the end of the school year. Families want to purchase new homes and get settled in before the start of the next school year. For this reason, listing homes near schools may be especially crucial during this time period.
Which Day Is Best for Home Listings?
Can’t wait until May to list your home? Saturday is your next best bet. Listings placed on this day receive a higher percentage of views than those occurring earlier in the week. Friday trails behind Saturday, still receiving more views than other weekdays.
Saturday makes sense in terms of being the most popular day of the week for listings. After all, most people have Saturdays off and may take the weekend to shop for a home. They may browse listings in the morning and make plans to visit the homes on Sunday, as quickly as possible. This makes quick listing on the weekends essential.
What Other Factors Affect Real Estate Listings?
Many other factors influence the success of your real estate listings, including everything from weather to holidays. Weather is a significant marker, so those living in states with little variation in weather will be more successful throughout the year. The length of daylight hours available will also impact the buyer’s desire to come take a look at a listing.
One of the best ways to learn about good listing practices is to take continuing education courses. These courses will help you keep up to date with current real estate trends and practices. Contact us for more information about pursuing classes that will enhance your real estate career.