Stats Say The Best Time to List is in Early May

On average homes listed in early May sell nine days faster and for one percent more 

OnlineEd Blog

canstockphoto1864187moneywoman(March 2, 2017) – Zillow– Listing a home toward the end of spring significantly increases a seller’s chances of selling their home faster and for more money, according to new analysis from Zillow. Nationally, homes listed from May 1 through May 15, sell around nine days faster and for nearly 1 percent more than the average listing. In 20 of the 25 largest metro areas, the best month to list is late spring, in either April or May.

Housing market dynamics, including low inventory, make the buying season more pronounced in some parts of the country. Sellers in the highly competitive Seattle, Portland, Ore., and Denver markets saw between a 1.5 and 2.5 percent boost to final sale prices when they listed in early May. The lack of new homes for sale in these markets elongates the home-buying season as many buyers are forced to consider several homes and make multiple offers. Less than half of buyers got the first home on which they made an offer, according to the Zillow Group Report on Consumer Housing Trends.

Weather patterns also affect the exact best window to sell in different areas. Sellers in Texas, California and Florida will find themselves with more flexibility in list timeframe, as many regions without distinct climate changes show little variation in sale price based on listing month.

“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. “Many home buyers 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.”

Additionally, listing on different days of the week can impact the number of buyers who will view the new listing. Listings that appear on Zillow on Saturday earn an average of 20 percent more views in the first week on market than early-in-the-week listings; similarly, Friday listings on Zillow earn 14 percent more views that those published on Monday.

To apply this analysis to individual homes, homeowners can use Best Time to List, a tool that estimates how much the timing of a listing will influence the final sale price for their home and their own market. Registered Zillow users access the tool by clicking the “Sell Your Home” tab on the home details page of their home, and obtain valuable information to pair with the expertise of a local real estate agent when determining the best time to put their home on the market.

Metro Area Ideal
Timeframe to
List Home
Days Sold
Faster than
Average
Average Sales
Premium (%)
Average Sales
Premium ($)
Ideal Day of the
Week to  List
United States  May 1 – 15 9 0.8% $1,500 Saturday
New York/Northern New Jersey May 1 – 15 7.5 0.7% $2,600 Saturday
Los Angeles-Long Beach-Anaheim, CA  April 16 – 30 15 1.0% $5,600 Friday
Chicago, IL  May 1 – 15 12.5 1.3% $2,500 Friday
Dallas-Fort Worth, TX  May 1 – 15 9 1.3% $2,400 Saturday
Philadelphia, PA  May 1 – 15 9.75 1.0% $2,000 Friday
Washington, DC April 1 – April 15 15 1.2% $4,500 Thursday
Miami-Fort Lauderdale, FL  March 1 – 15 8 0.7% $1,500 Saturday
Atlanta, GA  April 1 – April 15 19 1.4% $2,200 Friday
Boston, MA  April 16 – 30 13.5 1.2% $4,500 Wednesday
San Francisco, CA  May 16 – 31 5.5 1.3% $10,200 Friday
Detroit, MI  March 16 – 31 17.5 1.5% $1,900 Sunday
Riverside, CA  April 1 – 15 15 1.1% $3,400 Friday
Phoenix, AZ  April 16 – 30 14.5 0.8% $1,700 Saturday
Seattle, WA  May 1 – 15 15 2.5% $9,300 Thursday
Minneapolis-St Paul, MN  May 16 – 31 6 1.4% $3,200 Friday
San Diego, CA  April 1 – 15 13 1.3% $6,200 Saturday
St. Louis, MO  May 1 – 15 10.5 1.3% $1,800 Saturday
Tampa, FL  March 1 – 15 10.5 0.9% $1,500 Saturday
Baltimore, MD  April 1 – 15 21.5 0.9% $2,300 Saturday
Denver, CO  May 1 – 15 8 1.7% $5,600 Friday
Pittsburgh, PA  March 16 – 31 17 0.9% $1,100 Saturday
Portland, OR  May 1 – 15 16.5 2.0% $6,300 Friday
Charlotte, NC May 1 – 15 12.25 1.1% $1,700 Saturday
Sacramento, CA April 1 – 15 17.5 2.0% $6,600 Saturday
San Jose, CA May 1 – 15 9 1.6% $14,900 Wednesday

[Source: Zillow media release]

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Jeff Sorg

About the Author

Jeff Sorg is a co-founder of OnlineEd®, a Web-based vocational school founded in 1997 where he also serves as Corporate Secretary, Chief Operating Officer, and School Director. Sorg holds vocational instructor licenses in Oregon, Washington, California, and Nevada and has authored numerous pre-licensing and continuing education courses. Sorg was awarded the International Distance Education Certification Center's CDEi Designation for distance education in 2008. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.