A recent report from Zillow indicates the best time of year to sell your home. The home valuation site looked at prices in the top 10 real estate markets by population.
In this article, I'll tell you why those times are the most advantageous and get some related tips from money expert Clark Howard.
The Best Month To Sell Your Home
May — specifically May 1-15 — is the best time to sell your home, according to Zillow.
Zillow’s data show that homes sold in the first half of May did so nearly a week faster than the average listing — and fetched $1,600 more than the average listing!
Those two weeks in May are the best times to list your home, according to Zillow, but its report says that anytime between April 1 and July 15 is typically a favorable time to sell.
Days of the week matter too. Zillow says that homes listed on Saturdays get an average of 20% more views on its website in their first week on the market than homes listed on Tuesdays.
Let’s look at the best times to sell in the top 10 real estate markets in the United States, according to Zillow.
| City | Best Day of the Week | Best Days of the Year | Average Sales Boost | Days Sold Faster Than Average |
|---|---|---|---|---|
| Atlanta | Friday | June 1-15 | $1,300 | 5.5 |
| Boston | Wednesday | May 16-31 | $5,500 | 5 |
| Chicago | Friday | May 1-15 | $3,300 | 10.5 |
| Dallas | Saturday | July 1-15 | $1,400 | 2.5 |
| Los Angeles | Thursday | May 16-31 | $6,000 | 3 |
| Miami | Saturday | July 1-15 | $1,400 | 1 |
| New York | Friday | May 16-31 | $3,100 | 11 |
| Philadelphia | Friday | April 16-30 | $2,400 | 9.5 |
| San Francisco | Friday | April 16-30 | $10,000 | 2.5 |
| Washington, D.C. | Thursday | April 1-15 | $3,800 | 6 |
#tablepress-408 from cache
What Determines When You Should List Your Home?
You may be able to get a leg up by choosing the right time of the year to put your home on the market. But economic factors can also play a huge role in determining the ideal time to sell your property.
For example, a drop in mortgage interest rates may prop up demand among buyers.
An improving local job market is another factor that could contribute to heightened interest in your home.
For example, if an auto manufacturer breaks ground on a factory near your home, you could expect the local housing market to heat up to some degree. That may be an opportune time for you to sell no matter what month it is.
3 Home-Selling Tips That Can Help Your Listing
Of course, selling your home takes more than good timing. There are several things you can do to prepare your home to be sold. Here are a few:
1. Boost Your Home’s Curb Appeal
Could the walkway in front of your home benefit from a good power washing? Are there still leaves in your gutter?
Take a good look at the front exterior of your home and write down all the things you can do to beautify the property and not bust your budget.
Resource: 5 Cheap Curb Appeal Tips
2. Go With a Fresh Coat of Paint
You may also consider painting the rooms inside or even the home’s exterior. Nothing illuminates a home’s beauty like a nice coat of paint. Not only can a fresh paint job be pleasing to the eye but it can increase your bottom line.
A Zillow analysis found that the right door color can put an extra $6,000 in your wallet.
Resource: Best Interior and Exterior House Paints
3. Opt for a Modest Upgrade
You don’t have to break the bank to get your home in selling shape. Consider making a modest upgrade that will attract buyers.
Zillow says bathroom upgrades tend to make the biggest impact on buyers, but don’t go overboard.
Keep your toilet and fixtures in the mid-range level. Zillow says to figure about $3,000 to replace the toilet, add a double sink and light fixtures.
Want to add even more value to your home? These renovation projects under $10,000 can do the job.
Do you have any home-selling tips you’ve used to great success? Let us know in the comments below!
The post Report: When Is the Best Time To Sell Your House? appeared first on Clark Howard.