A question often posed by our clients is: “When is the best time of the year to sell my home?” Of course, the answer to this question typically depends on what part of the country you are in, what type of home it is, & local economic factors. With this said, we have previously written about how Thursdays are typically the best days of the week to list a home for sale on the multiple listing service (MLS).
Recently, ATTOM Data Solutions analysed sales data to determine the top 5 days of the year to sell a home. This analysis took into consideration 40.1 million single-family home and condominium sales that took place from 2011 – 2020.
MAYbe now is a good time to sell?
According to this analysis, the best two months of the year to sell your home are May and June. The late spring/early summer time frame produced the highest premiums on sale prices. As for the months that produced the highest seller premiums, they were as follows:
- May (13.4%)
- June (11.7%)
- July (11.2%)
- April (9.2%)
- August (8.9%)
Top 5 days of the year to sell a home
In terms of seller premiums, the top 5 days of the year to sell a home were all in the month of May as follows:
- May 23rd: +19.3%
- May 27th: +17.4%
- May 16th: +17.3%
- May 20th: +16.8%
- May 19th: +16.2%
These results are not too surprising considering the fact that many home buyers prefer to move into their new homes during the summer months. Oftentimes, these home searches begin in the early spring and are set up for a late spring or early summer closing.
In South Florida this pattern is also applicable, particularly for single-family homes. Other sectors of the market such as the oceanfront condo market tend to also see a spike during the winter months. Needless to say, this is when the seasonal residents that comprise of a large majority of these buyers are here.
Are you thinking about selling your South Florida property? We can help. Contact Live South Florida Realty, Inc. today for your free consultation. Our proven marketing strategies continue to result in our listings selling faster and at higher premiums than the market averages.