SEATTLE, Feb. 27, 2020 /PRNewswire/ -- To get the most
money when selling your home, the best time to list it for sale is
typically the first half of May, a Zillow® analysis shows.
Listing your home during this window can bring a median premium of
$2,100 on the typical U.S. home --
and as high as $24,400 in expensive
markets.
Spring is commonly known as the beginning to home shopping
season, when the weather starts to turn for the better and home
shoppers return to the market in droves. Early signs for
2020 suggest inventory will be historically tight and we could
see the most competitive home shopping season in years. While
bidding wars could be the norm in many markets this year, savvy
sellers may be able to maximize their returns by listing their home
at the right time.
Early May is the best time to list in 17 of the 35 largest
metros in the U.S. But there are some differences across the
country, which could be impacted by local market dynamics or even
the weather -- buyers don't want to drive to showings or open
houses through the snow, if they can avoid it. The earliest is in
San Diego, where the second half
of March is typically the best time to list. The latest is in
Cincinnati, where sellers see the
greatest premium when listing their home in the first half of
July.
The typical premiums when listing during these windows are
greatest in San Jose, Minneapolis-St. Paul and Seattle. Homes in San Jose listed in late April bring a 2.1%
premium, or $24,400 on a typical home
there. The typical premium sellers in the
Twin Cities that list in the suggested early May window can
earn is 2%, or $5,700 on the median
home there, while those in Seattle
that list at the same time typically earn a 1.8% premium, or
$9,500.
If selling quickly is your top concern, then listing your home
in late April is the way to go when selling traditionally. Homes
listed then sell seven days faster at the median and typically
bring a $1,500 premium. Potential
sellers in Dallas-Fort Worth,
San Antonio and Columbus may have more time to prepare, as
homes typically sell the fastest there when listed in the first
half of June. But those in San
Francisco or Denver may
have already missed the window – the median sales in those metros
come the fastest when listed in early February.
"Home buyer demand ebbs and flows in a predictable cycle every
year, which means that an astute seller can time their listing date
like a sailor reading a tide chart to embark at high tide," said
Jeff Tucker, a Zillow economist.
"Many sellers are motivated to get their homes on the market by
external forces, such as job moves or school years. But to the
extent a home seller can target a certain time of year, it's hard
to beat selling in early May, when listings fetch the highest sale
prices and move off the market quickly. Late April is not a bad
option either, when homes sell even more quickly than in May,
thanks to early-bird buyers rushing to beat the crowds. If this
winter's surprisingly hot leadup to home shopping season is any
indication, sellers this spring will see plenty of demand and
little competing inventory for their listings."
Zillow pageview data shows that first impressions matter a great
deal. Homes average 74 page views their first day on the market. By
the fifth day, that's cut nearly in half to 38 views, and falls all
the way to 18 views per day after two weeks.
Saturday is the best day to list your home for sale. Homes
listed on Saturday average the most page views in the first week,
and 24.8% more than homes listed on Tuesday, the worst day.
Sellers who want to take advantage of these trends should begin
preparing early. Not starting the process sooner is the most common
regret among sellers, in part because nearly three-quarters of
sellers make at least one home improvement during the process, and
at least a quarter of those said their projects took longer than
expected.
For those looking to avoid the hassle of repairs and other home
selling headaches altogether, one option is to request a
no-obligation cash offer from Zillow Offers, Zillow's new
home-buying program. Zillow Offers allows homeowners in
participating markets to sell on their own timeline and with less
hassle, avoiding showings, open houses and prep that usually take
place when selling traditionally. Zillow Offers launched in
2018 and is available in 23 markets nationwide.
Metro
Area
|
Best Time to
List
- Most Money
|
Median
Premium
|
Best Time to
List
- Fastest Sale
|
Median Days
Faster
|
United
States
|
Early May
|
$2,100
|
Late April
|
7
|
New York,
NY
|
Late May
|
$3,500
|
Early
April
|
11.5
|
Los Angeles-Long
Beach-Anaheim, CA
|
Late May
|
$6,900
|
Late April
|
6
|
Chicago,
IL
|
Early May
|
$3,100
|
Early May
|
12
|
Dallas-Fort Worth,
TX
|
Early June
|
$2,200
|
Early June
|
3
|
Philadelphia,
PA
|
Late April
|
$2,400
|
Early May
|
9
|
Houston,
TX
|
Early May
|
$1,800
|
Early
April
|
6
|
Washington,
DC
|
Late May
|
$4,400
|
Late April
|
9
|
Miami-Fort
Lauderdale, FL
|
Early May
|
$1,800
|
Early May
|
9
|
Atlanta,
GA
|
Early June
|
$1,900
|
Early
April
|
8
|
Boston, MA
|
Late May
|
$7,200
|
Late May
|
7
|
San Francisco,
CA
|
Late April
|
$18,100
|
Early
February
|
4.5
|
Detroit,
MI
|
Early May
|
$2,400
|
Early
March
|
9
|
Riverside,
CA
|
Early May
|
$4,100
|
Late April
|
7
|
Phoenix,
AZ
|
Early May
|
$2,200
|
Late April
|
6
|
Seattle,
WA
|
Early May
|
$9,500
|
Early May
|
7.5
|
Minneapolis-St Paul,
MN
|
Early May
|
$5,700
|
Late April
|
7
|
San Diego,
CA
|
Late March
|
$8,100
|
Early
April
|
8
|
St. Louis,
MO
|
Early May
|
$2,300
|
Late April
|
10
|
Tampa, FL
|
Late April
|
$1,500
|
Early
April
|
7
|
Baltimore,
MD
|
Early May
|
$3,000
|
Early
April
|
12
|
Denver, CO
|
Early May
|
$5,500
|
Early
February
|
6.5
|
Pittsburgh,
PA
|
Early June
|
$1,200
|
Late April
|
12
|
Portland,
OR
|
Early May
|
$6,400
|
Early
April
|
10
|
Charlotte,
NC
|
Early June
|
$1,800
|
Late April
|
6.5
|
Sacramento,
CA
|
Early May
|
$6,100
|
Early
April
|
9
|
San Antonio,
TX
|
Late May
|
$1,500
|
Early June
|
6
|
Orlando,
FL
|
Early June
|
$2,300
|
Late March
|
7
|
Cincinnati,
OH
|
Early July
|
$1,500
|
Late April
|
9
|
Cleveland,
OH
|
Early May
|
$2,400
|
Early May
|
13
|
Kansas City,
MO
|
Late May
|
$2,600
|
Late May
|
6.5
|
Las Vegas,
NV
|
Early May
|
$2,700
|
Early
March
|
7.5
|
Columbus,
OH
|
Early June
|
$2,900
|
Early June
|
9
|
Indianapolis,
IN
|
Early May
|
$2,500
|
Late April
|
8
|
San Jose,
CA
|
Late April
|
$24,400
|
Late April
|
4.5
|
Austin, TX
|
Early May
|
$2,900
|
Early May
|
4.5
|
About Zillow
Zillow® is transforming how people buy, sell, rent and finance
homes by creating seamless real estate transactions for today's
on-demand consumer. Zillow is the leading real estate and rental
marketplace and a trusted source for data, inspiration and
knowledge among both consumers and real estate professionals.
Zillow's proprietary data, technology and industry partnerships
put Zillow at nearly every major point of the home shopping
experience, helping consumers search for and get into their new
home faster. Zillow now offers a fully integrated home shopping
experience that includes access to for sale and rental listings,
Zillow Offers®, which provides a new, hassle-free way to buy and
sell eligible homes directly through Zillow; and Zillow Home Loans,
Zillow's affiliated lender that provides an easy way to receive
mortgage pre-approvals and financing. Zillow Premier Agent
instantly connects buyers and sellers with its network of real
estate professionals to help guide them through the home shopping
process. For renters, Zillow's innovations are streamlining the way
people search, tour, apply and pay rent for leased properties.
In addition to Zillow.com, Zillow operates the most popular
suite of mobile real estate apps, with more than two dozen apps
across all major platforms. Launched in 2006, Zillow is owned and
operated by Zillow Group, Inc. (NASDAQ:Z and ZG) and headquartered
in Seattle.
Zillow and Zillow Offers are registered trademarks of Zillow,
Inc.
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SOURCE Zillow