Realtor.com's analysis uncovered the ideal time to list your home

Realtor.com's analysis uncovered the ideal time to list your home.


Source: Andy Medici
Austin Business Journal

According to an analysis by Realtor.com, the prime time to sell a home is fast approaching. The optimal week to list your house falls between April 14-20. During this period, homes typically fetch higher list prices, attract greater buyer interest, sell faster, and face reduced competition compared to other times of the year.

Realtor.com's Chief Economist, Danielle Hale, emphasized the significance of spring as the peak season for home sales, citing increased buyer activity during this time. Hale advises sellers to begin preparations now to ensure their homes hit the market when conditions are most favorable, enhancing the likelihood of a swift and lucrative sale.

Key factors supporting the April 14-20 timeframe include:

1. Above-average prices: Homes listed during this week tend to command higher prices, with an average increase of 10.4% compared to the beginning of the year.

2. Increased buyer demand: There is a notable surge in home views on Realtor.com during this week, indicating heightened buyer interest.

3. Faster sales: Homes listed during this period typically sell about 17% faster than the yearly average, often within 46 days.

4. Reduced competition: Inventory levels are lower in April, with approximately 13.7% fewer sellers compared to an average week. Nationwide, inventory remains around 40% below pre-pandemic levels, intensifying competition among buyers.

5. Minimal price reductions: Sellers listing their homes during this week experience fewer instances of price reductions, with approximately 24.6% fewer homes seeing decreases compared to the yearly average.

While summer months also offer favorable selling conditions, they entail heightened competition due to increased seller activity. Additionally, buyer interest is influenced by mortgage rates, which currently hover around 7%, pending decisions by the Federal Reserve regarding interest rate adjustments.

An earlier analysis by Attom Data Solutions identified January 9 as the optimal time to purchase a home due to lower prices and demand, albeit with limited inventory. Fall months, particularly October, November, and December, are highlighted as favorable periods for purchasing, offering reduced premiums.

Despite a 9.5% increase in existing-home sales in February, reaching approximately 4.38 million, sales remain 3.3% lower compared to the previous year. Median home sales prices rose to $384,500, marking the eighth consecutive month of year-over-year price gains.

Inventory levels are gradually rising, with approximately 1.07 million unsold units at the end of February, equivalent to around 2.9 months of supply, as reported by the National Association of Realtors.

Source:

A. Medici (2024). Austin Business Journal. Retrieved from https://www.bizjournals.com/austin/news/2024/03/26/realtor-buy-home-housing-market-price-best-time.html

9 Properties
$389,000
Condo: Whispering Valley Condo Amd
2
Beds
2F11/2
Baths
1,119
Sq.Ft.
1999
Year Built
12
Days on Site
6113388
MLS
$1,700 / month
Neighborhood: South San Gabriel Urban Renewal Blk D
3
Beds
1
Baths
882
Sq.Ft.
1975
Year Built
24
Days on Site
3311878
MLS
$500,000
Neighborhood: AARON, TRACT 13
4
Beds
2
Baths
1,624
Sq.Ft.
1996
Year Built
33
Days on Site
5104544
MLS
$1,400,000
Neighborhood: Burleson, Jonathan
89.44
Acres
33
Days on Site
7789346
MLS
$500,000
Neighborhood: AARON, TRACT 13
10.08
Acres
34
Days on Site
4820446
MLS
$319,900
Neighborhood: Stonefield Sec Two
3
Beds
2
Baths
1,497
Sq.Ft.
2012
Year Built
58
Days on Site
7513021
MLS
$2,000 / month
Condo: Whispering Valley Condo Amd
2
Beds
2F11/2
Baths
1,119
Sq.Ft.
1999
Year Built
80
Days on Site
9102966
MLS
$1,150,000
Condo: Marina Village At Lakeway Condo
3
Beds
3
Baths
2,226
Sq.Ft.
2008
Year Built
157
Days on Site
8948415
MLS
$1,400,000
Neighborhood: Burleson, Jonathan
89.44
Acres
247
Days on Site
2145268
MLS

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Before you put your property on the market today, be sure to keep these tips in mind. To make it easier for you, consult a real estate agent because Real Estate Professionals are familiar with the local market dynamics and can provide more detailed information on how to effectively and successfully sell your home. Remember: Don't be a home that helps OTHERS sell, but be a home that SELLS! Get in touch with us today: 512 531 2922 www.taylorrealtygroup.com [email protected]

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