New tool helps homeowners and brokers identify the optimal time to list a home for sale
By Jeff Sorg, OnlineEd Blog
(March 2, 2016) – A recent analysis by Zillow® discovers that, nationally, homes sold between May 1 through May 15 sell around 18.5 days faster and for 1 percent more than the average listing.
“The housing market today is heavily influenced by low inventory,” said Zillow chief economist Dr. Svenja Gudell. “Faced with increasingly competitive markets, many buyers are forced to consider several homes and make multiple offers, elongating the home shopping experience. By listing homes further into the shopping season, sellers may attract buyers who are increasingly eager to purchase and may be more willing to pay a premium for the home.”
Zillow also announced the launch of Best Time to List, a new tool that helps homeowners and brokers identify the optimal time to list a home for sale in their area. This new tool estimates how the timing of a listing will influence the final sale price.
Brokers can use this information to have a more informed conversation with their sellers to determine the best time to put their home on the market.
The chart below is the result of the current Best Time To Sell analysis from Zillow:
Metro Area | Ideal Timeframe to List Home | Days SoldFaster than Average | Average Sales
Premium (%) |
Average Sales Premium ($) |
United States | May 1 – 15 | 18.5 | 0.9% | $1,700 |
NewYork/NorthernNew Jersey | May 1 – 15 | 16.5 | 0.6% | $2,400 |
Los Angeles-LongBeach-Anaheim,CA | May 16 – 31 | 12.5 | 0.9% | $5,300 |
Chicago, IL | May 1 – 15 | 22.5 | 1.2% | $2,400 |
Dallas-Fort Worth,TX | May 1 – 15 | 11.5 | 1.1% | $2,000 |
Philadelphia, PA | May 1 – 15 | 12.75 | 0.7% | $2,000 |
Houston, TX | June 1 – 15 | 12.75 | 0.7% | $1,200 |
Washington, DC | April 16 – 30 | 18.0 | 1.1% | $4,100 |
Miami-FortLauderdale, FL | April 16 – 30 | 16.25 | 0.9% | $2,000 |
Atlanta, GA | April 1 – April 15 | 19.5 | 1.4% | $2,200 |
Boston, MA | May 16 – 31 | 12.0 | 1.3% | $5,200 |
San Francisco, CA | May 16 – 31 | 7.5 | 1.5% | $12,200 |
Detroit, MI | May 1 – 15 | 19.5 | 1.6% | $2,000 |
Riverside, CA | May 1 – 15 | 15 | 1.0% | $2,900 |
Phoenix, AZ | May 1 – 15 | 12.5 | 1.2% | $2,600 |
Seattle, WA | May 1 – 15 | 20.0 | 1.2% | $2,600 |
Minneapolis-StPaul, MN | May 1 – 15 | 19.25 | 2.0% | $4,300 |
San Diego, CA | March 16 – 31 | 13 | 1.0% | $5,200 |
St. Louis, MO | March 16 – 31 | 17.75 | 1.2% | $1,700 |
Tampa, FL | May 1 – 15 | 20 | 0.9% | $1,500 |
Baltimore, MD | May 1 – 15 | 22.5 | 1.1% | $2,800 |
Denver, CO | May 16 – 31 | 10 | 1.3% | $4,300 |
Pittsburgh, PA | May 1 – 15 | 19.5 | 0.8% | $1,000 |
Portland, OR | May 1 – 15 | 17.5 | 1.8% | $5,500 |
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