In competitive markets, home sellers cannot afford to be sloppy with details. A well thought out and executed listing strategy, that includes a plan to list at the right time, is critical in maximizing a home’s price and time on market. So, when is the best time to put your home on the market? While the best timeframes may vary by region, according to many sources, generally speaking the best time of year to list a home is between the months of March and April.
Furthermore, statistics indicate that homes sell faster and for more money in early May. This may be due to several factors including inventory supply, competition, and homebuyers’ agenda. For example, many homebuyers may be anxious to buy their new homes and get settled before the school year begins in the fall. Often, these buyers are willing to pay more to seal the deal.
As a home seller, because most homebuyers begin their search on sites like REcolorado.com, your biggest challenge is beating the flood of new homes for sale that push yours lower in search results. The largest number of homes usually come on the market the last weeks of February and into early March, so if you list your home before then, you may quickly become outranked. Listing your home in late March or early April, however, means you’ll likely bypass this surge.
Even the day of the week you choose to list could matter! Some found that homes listed on Thursdays are more likely to sell faster and above list price. This is because potential buyers are getting ready to shop over the weekend. Listing on Saturday, Sunday or Monday are the worst times.
If you’re thinking about buying or selling a home this spring, you can connect with Colorado REALTOR at REcolorado.com. You can also search the most accurate and up-to-date home listings.