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Study: The best day of the year to sell a home is June 28

Erik J. Martin
The Mortgage Reports contributor

 

Trying to time the best day to sell a home isn’t easy.

Some sellers are forced to sell quickly due to a job relocation, for instance. Others don’t want to have to possibly wait months for the ideal selling season. They choose to list at a time convenient for them.

But in case you’re curious, a new study reveals the best days and months of the year to sell. If you’ve already listed or are about to, you may be in luck. That’s because the best days to sell are coming up soon.

It’s important to sell on a schedule that works best for you. But for what it’s worth, the best day to sell a home may be this spring or early summer. Examine your options. And consult with experts to best time the listing and sale of your property.

What the research found

A new ATTOM Data Solutions report had some interesting findings:

The best day to sell a home is right around the corner. The five dates that offer the biggest seller premiums above market value are. They are

  • June 28 (10.8% seller premium)
  • May 31 (10.7%)
  • June 21 (10.7%)
  • June 20 (10.6%)
  • May 24 (10.5%)

The best months to sell your home are

  • June (9.2% seller premium)
  • May (7.4%)
  • July (7.3%)
  • April (6.4%)
  • March (6.1%)
  • August (5.8%)
  • February (5.6%)
  • September (4.7%)
  • November (4.0%)
  • January (3.7%)
  • October (3.3%)
  • December (3.3%)

Interpreting the data

Todd Teta is ATTOM Data Solutions’ chief product officer. He says these findings are hardly shocking.

“Summer is a time for vacations and outings. So it’s no surprise that it’s also a time when people are most likely to move,” says Teta.

“Families start their home search when they know their kids will be out of school and when the weather is ideal for home viewing and moving. This gives home sellers an upper hand in price negotiations,” he adds.

Plus, there are simply more buyers in the market in May, June and July.

“School is out. You’ve got post-winter weather. There’s no football on the weekends to contend with,” Teta says. “Buyers create more demand during the winter and early spring months. Hence, there’s a 90- to 120-day lag that opens the window for those homes to close in May and June.”

Kara L. Stachel is a real estate attorney with Stachel Law Planning, PLLC. She believes there’s another simple reason why the best day to sell a home is forthcoming.

“Homes tend to show better in the spring and summer months. That’s when everything is green and your landscape adds to your home’s aesthetic,” she says.

Look to the calendar for guidance

Based on the data, sellers who want to wait for the weather to heat up typically get rewarded.

“They often receive the hottest seller premiums,” adds Teta. “We’ve analyzed over 28 million single-family home and condo sales over the past eight years. Our findings are proof that summer is when people are looking to buy.”

By contrast, the worst days to sell are in December. That’s per an ATTOM Data Solutions report published last year. That study found that the top five days when buyers earned the biggest discounts below estimated market value are: December 26 (1.3% discount); December 7 and 4 (1% each); December 29 (0.7%); and December 21 (0.6%).

The moral to the story?

“If you’re looking to sell your home soon, now is the time to start,” he suggests.

What sellers can do right now

Want to take advantage of this ideal selling period? Eager to unload your home on one of the report’s top five days for sellers? If you’ve recently listed your home, it may not be too late to hit on one of these dates. Your goal should be to present your home in its best light but in a speedy fashion.

“It’s not necessary to make costly upgrades to sell a home. Regardless of the time of year, a clean, clutter-free home will show the best,” Stachel says.

Planning to list soon? Prepare to work fast.

“Declutter and focus on what attracts millennials—the number one buying market. A clean, neat home will always show better and appeal to Gen Y and other buyers,” she suggests.

Lack the time to make needed improvements? “In this case, at least stage the home property by hiring a professional staging company. This can be a game changer,” says Stachel.

Work closely with your agent to schedule one or more open houses at convenient times, too.

Play the long game

If you can’t realistically ready your home in time for the June window, don’t sweat it. Take your time and prep your home right. Focus on increasing its value and appeal by following proven practices. These efforts can help you command a higher sales price—regardless of the time of year when you ultimately sell.

“Add a fresh coat of neutral-colored paint to your interiors. This will allow buyers to picture themselves living in the property and making it their own,” adds Stachel.

In addition, make any needed repairs. And consult with your agent on upgrades that can offer a better return on investment.

“Millennials love their pets,” Stachel noted. “So focus on a well-maintained yard, as well.”

Get ready to buy again after you sell

If you’re selling a home, chances are that you’ll be buying again soon, too.

Get ready for your move by getting pre-approved. You’ll be glad when your new home purchase is underway when you find a buyer for your current home.

Verify your new rate (Oct 22nd, 2019)