As I’m sure everyone has told you — list your home early in the year. This allows you to be ready when the buying season peaks during the summer. But what exactly does “early in the year” mean?
It turns out the magic window is mid-March to mid-April. The best time for you to list your home generally follows the weather pattern. For those in markets with warmer climates like Phoenix or Miami, the magic window begins in March. In places with harsher winters like Boston, waiting until mid to late April will be beneficial.
The magic window is the time in which you will be able to sell your home faster and for more money. According to recent data, “Homes sold from mid-March to mid-April sell around 15 percent faster and for 2 percent more than the average listing.”
Today the vast majority of home buyers begin their search on Redfin, Zillow or other sites which are refreshed multiple times a day. This means your listing can become old very quickly. As new listings are posted it pushes yours lower in the search results.
Nationally, “The largest surge occurs in the last weeks of February and into early March.” Listing your home too early may cause you to become outranked by the surge. Listing your home in late March or early April, however, means you’ll likely bypass this surge.
When selling your home, you want to attract serious buyers, not someone who is just looking. One way to find out if a buyer is serious — see if they have contracted a real estate agent or mortgage broker. This indicates they are ready to take the next step in the buying process.