You might want to wait until late spring to put your house on the market. According to a new report from Zillow, listing your home at that time will increase your chances of selling it faster and for more money. In fact, homes listed from May 1 to May 15, have a record of selling nine days faster and for one percent more.
For 20 of the 25 largest metro areas in the United States, April or May is the best month to put your home on the market. Zillow also found that listing your home on certain days of the week can also pay off—listings posted on Saturdays earn 20 percent more views and Friday listings receive 14 percent more views that those published earlier in the week.
The experts at Zillow suggest that low inventory during this time may be the cause of this change in the market—and it’s especially more pronounced in highly competitive cities. Houses in popular cities like Seattle, Portland, and Denver sold for 1.5 to 2.5 percent more in early May.
“With three percent fewer homes on the market than last year, 2017 is shaping up to be another competitive buying season,” Zillow chief economist Svenja Gudell said in a press release. “Many home buyers who started looking for homes in early spring wills till be searching for their dream home months later. 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.”
Additionally, weather plays a role in the housing market as well. While cities with colder temperatures have smaller optimal selling windows, sellers who live in Texas, California, and Florida have more time to list their homes and there’s little variation in sale price from month to month.