As with most things life, timing is everything. When trying to get top dollar for your home, timing will likely be a contributing factor in addition to other items. According to Realtor.com’s recent 2020 Best Time to List analysis, April is the best month to sell a home. Typically, the month of April brings more buyer interest, less competition from other sellers, higher list prices, and faster sales.
As an example, this is a particularly good time to sell a single-family home. In addition to the strong demand for single-family homes brought upon by the pandemic, most families with children prefer to get a property under contract now so that they are able to move during the summer months when their children are out of school. This makes complete sense as moving during the middle of a school year can be challenging.
What is the best week to sell a home?
According to this report, April 18th – 24th may be the best week to list your home for sale. To determine the optimum time to list, the study considered competition from other sellers, median listing prices, time it takes to sell, likelihood of price reductions and interest from buyers measured by views per property on Realtor.com’s website. The reasons that make this particular week stand out are as follows:
- Higher price: Homes listed during this week typically sell for 2% higher than the average week and 10.4% higher than at the start of the year. Based on typical seasonal trends, a home listed during this week could sell for $7,500 above the average week and $36,000 more than it would have in early January.
- Strong buyer demand: Homes typically receive 11% more views on Realtor.com during this week than the average week during the year.
- Less competition: As a seller, you can expect to see approximately 5% less homes for sale during this week as compared to the average week throughout the year.
- Faster sale: Homes listed for sale during this time frame have historically sold 14.1% faster than the average week. On average, this equates to homes selling 8 days faster than the average time it takes throughout the year.
Summary
While this April window of time may be the sweet spot for listing a home for sale in most Florida metros, the South Florida metro market is somewhat of an outlier. According to this Realtor.com analysis, the best days to sell a home in the major Florida metros are as follows:
- Miami-Fort Lauderdale-West Palm Beach: July 4th
- Jacksonville: April 4th
- Orlando-Kissimmee-Sanford: April 25th
- Tampa-St. Petersburg-Clearwater, Fla.: April 25th
Of course, the current combination of increased buyer demand, low inventory of homes for sale, & low mortgage rates make this an incredible time to sell your home. With this said, most industry experts believe that this trend will continue, particularly in the South Florida market.
Are you thinking about selling your home in Palm Beach, Broward, or Dade counties? We can help. In fact, Live South Florida Realty, Inc.’s listings continue to sell considerably faster than other listings in the local market. Contact us today for a free consultation.
