Our team has exciting news to share for prospective sellers! According to recent findings by Realtor.com, the week of April 14th to April 20th is anticipated to offer the most favorable conditions for listing prices, buyer demand, and sales pace, making it the prime time to sell your home.
Why April 14th to April 20th?
-
Above-Average Prices: Historically, homes listed during this week have commanded prices 1.1% higher than the average week, with a notable increase of 10.4% compared to the start of the year. Sellers could potentially see their properties fetch $34,000 more than earlier in the year.
-
Increased Buyer Demand: This period typically sees 18.4% more views per listing than the typical week, indicating heightened interest from potential buyers. In 2023 alone, views per listing surged by 22.8% compared to the yearly average, signaling strong demand.
-
Accelerated Market Pace: Thanks to heightened demand, homes listed during this week tend to sell approximately 17% faster than in an average week, translating to about 9 days quicker on the market. In 2023, homes sold within this timeframe spent an average of 46 days on the market, 6 days faster than the yearly average.
-
Reduced Competition: With fewer sellers entering the market during this time, there's approximately 13.7% less competition compared to the average week of the year. Despite an increase in active inventory in February 2024, inventory levels remain lower than pre-pandemic levels, offering ample opportunities for sellers.
-
Minimal Price Reductions: Historically, the likelihood of price reductions decreases during late winter and early spring. This week typically sees about 24.6% fewer homes with price decreases compared to the yearly average, offering sellers greater confidence in their asking prices.
Key Tips for Sellers:
- Begin preparations early to take advantage of this optimal selling window.
- Collaborate with an experienced agent to navigate local market dynamics effectively.
- Monitor mortgage rates as they may influence market activity.
Methodology:
Realtor.com analyzed listing metrics from 2018-2019 and 2021-2023 to identify trends and determine the optimal time for listing properties. The study excluded data from 2020 due to the pandemic's anomalous impact. Rankings for each week were based on calculated "Best Time to List" scores, considering factors such as list prices, days on market, and buyer demand.
Don't miss out on this prime opportunity to maximize your home's potential in the current market. Contact the Ram-Z Home Team today to discuss how we can help you capitalize on the optimal selling window!
Want to know the current value of your home? Click HERE for an INSTANT VALUATION
