Monday? Friday? Weekend?
Nationwide, a Thursday during the second half of April is the best time to list a home for sale, according to a new Zillow analysis of millions of 2021 home sales.
Homes listed during those weeks can expect to fetch 2.8% more or about $9,300 on the typical U.S. home. And homes listed on any Thursday, when shoppers are planning for weekend showings, can sell for about $1,100 more, according to a news release.
Selling Fast and Furious
The pandemic-era housing market barely resembles the one from two years ago, with sky-high demand and record-low inventory driving intense competition for homes. Homes are selling fast year-round, with a difference of only a few days between the fastest and slowest periods. But one thing that’s remained constant: Listing a home for sale in the spring will yield the best results.
The potential price benefit from listing at the right time has grown as home values have increased. Listing during the best or worst times of the year can impact a sale price by as much as $21,000, compared to a difference of only $12,500 before the pandemic.
“With inventory as low as it is, home sellers can expect a quick sale pretty much year-round,” said Zillow economist Nicole Bachaud in the news release. “Even as frantic buyers are snapping up homes days after they hit the market and often bidding them up above list price, there is still value to be had by listing a home during the right time of year, which is in the spring in most cases. This is a friendly market for sellers, but those who are simultaneously buying need a firm grasp on the right tools and strategies to win their next home.”
Around the Country
Of course, all real estate is local, and the advice differs across major U.S. markets. If 2021 trends hold this year, among the 35 largest metro areas, San Francisco, San Jose, Portland, and Austin would have seen the best time to list a home be as early as the second half of February. Los Angeles, where winter weather does not deter buyers, has the latest ideal time to list; those who listed their home in late December last year saw the biggest price benefit, just edging out late March. Los Angeles metro inventory was 20% lower in December than in March, likely contributing to increased demand for each home.
Still, those markets are outliers. In most large markets, listing in April or May is the sweet spot. Nationwide, the worst time to list a home is during the first two weeks of November, when homes sell for a 3.5% discount.
Regardless of when they are listed, homes are selling quickly. The difference between the periods with the fastest sales (late January through April) and slowest sales (August) was only three days last year, compared to a difference of 12 days in 2019.
Most home sellers become buyers as well, as they look for their next home. As the best season to list a home approaches, buyers should be prepared for a competitive and fast-moving market. Home listings in April get more than 30% more page views per day than average, meaning more interest and potentially a bidding war that ends in the home selling above list price, the news release added.
Figure Out finances Before
Buyers should sort out their finances early: deciding their budget, finding a lender, and getting pre-approved for a loan. Check out the chart below to see some interesting stats across the country:
|Maximize Sale Price||Maximize Page Views|
|Metro Area*||Best Time to List||Potential
Sale Price Difference on Typical Home
|Worst Time to List||Potential
Sale Price Difference on Typical Home
|Best Time to List||Potential Difference in Daily Page Views||Worst Time to List||Potential Difference in Daily Page Views|
|United States||Late April||$9,300||Early November||-$11,700||Early April||31.1%||Late November||-20.1%|
|New York, NY||Late April||$8,800||Late September||-$8,200||Early March||25.1%||Early September||-19.1%|
|Los Angeles, CA||Late December||$25,000||Early August||-$17,900||Early April||20.4%||Early October||-11.4%|
|Chicago, IL||Late April||$7,600||Early November||-$11,100||Early April||40.1%||Late October||-15.7%|
|Dallas–Fort Worth, TX||Late April||$12,400||Early November||-$17,000||Early January||30.2%||Late November||-18.7%|
|Philadelphia, PA||Early May||$6,900||Late September||-$8,400||Early April||35.4%||Late November||-20.3%|
|Houston, TX||Late April||$8,600||Late October||-$9,000||Early April||25.7%||Late October||-18.5%|
|Washington, D.C.||Late March||$15,300||Early October||-$20,100||Late March||46.7%||Late September||-22.0%|
|Miami–Fort Lauderdale, FL||Early May||$12,800||Late October||-$17,700||Late April||33.8%||Early January||-17.8%|
|Atlanta, GA||Early May||$9,100||Early December||-$15,000||Late March||29.5%||Late November||-20.0%|
|Boston, MA||Late March||$13,100||Early December||-$36,300||Late March||50.6%||Late October||-19.0%|
|San Francisco, CA||Late February||$106,400||Late October||-$93,200||Late February||50.7%||Early October||-23.8%|
|Detroit, MI||Late April||$9,700||Late October||-$10,900||Late April||54.9%||Late November||-22.8%|
|Riverside, CA||Late March||$20,000||Late October||-$20,100||Early March||50.7%||Late October||-28.5%|
|Phoenix, AZ||Early May||$13,600||Early November||-$15,400||Late February||43.2%||Late November||-26.5%|
|Seattle, WA||Late March||$42,000||Early October||-$52,700||Late February||52.5%||Late September||-20.1%|
|Minneapolis–St. Paul, MN||Early April||$14,500||Late November||-$20,600||Early March||42.7%||Late September||-20.1%|
|San Diego, CA||Late March||$43,000||Late October||-$29,700||Late February||41.3%||Late August||-21.4%|
|St. Louis, MO||Early May||$7,200||Late November||-$7,000||Early May||34.6%||Late November||-17.2%|
|Tampa, FL||Late April||$9,200||Early January||-$11,200||Early April||43.6%||Early September||-20.1%|
|Baltimore, MD||Late March||$9,700||Early October||-$12,700||Late March||60.2%||Late November||-23.5%|
|Denver, CO||Early March||$30,200||Late October||-$36,700||Early January||66.6%||Early August||-20.9%|
|Pittsburgh, PA||Early March||$6,100||Late October||-$7,000||Late April||52.2%||Late November||-22.7%|
|Portland, OR||Late February||$19,700||Early October||-$25,000||Late February||51.0%||Early October||-25.7%|
|Charlotte, NC||Early May||$11,400||Early December||-$14,200||Late April||28.2%||Late November||-15.9%|
|Sacramento, CA||Early April||$26,300||Late October||-$24,600||Late February||89.3%||Early October||-29.9%|
|San Antonio, TX||Early May||$9,000||Late December||-$11,800||Early April||29.9%||Late November||-23.7%|
|Orlando, FL||Late April||$9,600||Late December||-$12,200||Late April||39.0%||Early January||-25.1%|
|Cincinnati, OH||Early May||$8,100||Early November||-$10,900||Late April||49.0%||Late November||-25.6%|
|Cleveland, OH||Early March||$7,200||Late December||-$9,400||Late April||50.5%||Early January||-21.8%|
|Kansas City, MO||Early April||$8,800||Late November||-$10,900||Early March||61.7%||Late November||-27.4%|
|Las Vegas, NV||Late April||$13,300||Late November||-$13,200||Late March||59.9%||Late October||-28.8%|
|Columbus, OH||Late April||$10,700||Late November||-$13,300||Late March||56.6%||Late November||-27.9%|
|Indianapolis, IN||Late April||$5,900||Late November||-$12,900||Late April||41.5%||Late November||-28.1%|
|San Jose, CA||Late February||$124,200||Early July||-$82,600||Late December||43.1%||Late July||-21.2%|
|Austin, TX||Late February||$62,400||Late November||-$55,000||Early January||193.3%||Late November||-34.3%|
|*Table ordered by market size|