Thinking of cashing in on the record-high prices in the housing market and selling your house this spring? You might want to wait a few more weeks.
A new study from Zillow shows that nationwide the best time to list your home is the first two weeks of May. The report found that homes listed from May 1 to May 15 sell about nine days faster than the average listing, and for $1,500 more. Sellers in hot markets like San Francisco and San Jose sold their homes for $10,000 more than average by listing at the peak time.
Listing at the end of the week or the weekend maximizes the number of viewers who will see your home. Homes listed on Saturday earn 20 percent more views in the first week than those listed early in the week.
The spring real estate season is poised to be another sellers’ market, with 3 percent fewer homes for sale than last year. “Many home buyers who started looking for homes in early spring will still be searching for their dream home months later,” Zillow chief economist Svenja Gudell said in a statement. “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.”
The ideal time to list does vary slightly by region, but in most parts of the country April and May are the best.