Thursday, February 28, 2019
Wednesday, February 27, 2019
Homes listed in the first two weeks of May earn $1,600 more on average, and sell nearly a week faster.Buyers emerge from winter hibernation mode in the spring to shop for homes, but builders may be leaving money on the table if they list the home in the wrong week of spring selling season.
According to new data from Zillow, the first two weeks of May is the best time to list, with homes selling for a $1,600 premium, and six days faster. In 19 of the 35 largest metros, the best month to sell for the biggest sales premium is May.
Of course, the best time to list a home varies by market, and in some cases the difference is dramatic—in Pittsburgh, the listing sweet spot is the second half of March, while a handful of markets in Texas, Florida, and Las Vegas don't hit the prime listing time until the first two weeks of July.
The biggest premium for timing a listing is in Minneapolis, where homes listed in the first half of May sold for a 1.8% premium—an extra $4,900 on the sale. Sellers in Austin and Miami, on the other hand, saw the smallest sales premiums of only 0.5%, or about $1,400.
The listing window also impacted how quickly a home sold, getting snatched off the market an average of six days faster than homes listed outside of the window. In Cleveland, homes listed in the first half of May sold a whole two weeks faster than the typical home, but other markets saw no impact. In Las Vegas, homes listed in early July only sold half a day faster.
The day a home is listed can also affect how many potential buyers see it, as 79% of home shoppers use online resources during their search. Homes listed on Saturdays get the most page views in the first week, and 20% more views than homes listed on Tuesdays, the day that gets the fewest page views.
Here are the best times to list a home in some markets, according to Zillow data:
|Region||Ideal Listing Window||Median Sale Premium ($)||Median Sale Premium (%)||Days Sold Faster than Median Home||Ideal Listing Day of the Week|
|United States||May 1-15||$1,600||0.7%||6||Saturday|
|New York, NY||May 16-31||$3,100||0.7%||11||Friday|
|Los Angeles, CA||May 16-31||$6,000||0.9%||3||Thursday|
|Chicago, IL||May 1-15||$3,300||1.5%||10.5||Friday|
|Dallas-Fort Worth, TX||July 1-15||$1,400||0.6%||2.5||Saturday|
|Philadelphia, PA||April 16-30||$2,400||1.1%||9.5||Friday|
|Houston, TX||July 1-15||$1,400||0.7%||1.5||Saturday|
|Washington, DC||April 1-15||$3,800||0.9%||6||Thursday|
|Miami-Fort Lauderdale, FL||July 1-15||$1,400||0.5%||1||Saturday|
|Atlanta, GA||June 1-15||$1,300||0.6%||5.5||Friday|
|Boston, MA||May 16-31||$5,500||1.2%||5||Wednesday|
|San Francisco, CA||April 16-30||$10,000||1.0%||2.5||Friday|
|Detroit, MI||May 1-15||$2,100||1.3%||7||Sunday|
|Riverside, CA||June 1-15||$3,200||0.9%||4||Friday|
|Phoenix, AZ||May 1-15||$1,900||0.7%||4||Saturday|