April showers bring May flowers – especially if you can time the sale of your home just so.
Nationwide, a Thursday during the second half of April is the best time to list a home for sale, according to a new Zillow analysis of millions of 2021 home sales.
Typically, homes listed during those weeks – April 21 and 28 this year – can expect to fetch 2.8% more, or about $9,300 on the typical U.S. home.
Thursdays, in fact are good options anytime of year. Shoppers are planning for weekend showings and homes listed then may sell for about $1,100 more.
Of course, San Diego is not typical. With its temperate weather and hot market, the region’s prime real estate season extends longer – and offers even more profit for sellers when the timing is right:
- Late March is the best time to list a home for sale in greater San Diego. Homes listed then can sell for 4.6% more, or $43,000 on a typical home. The first half of April is not far behind, at 4.1%, or $38,000, more.
- But late October is the worst time to list a home for sale in the area. Homes listed then can sell for a 3.2% discount, or $29,700 on the typical home.
The pandemic-era housing market barely resembles the one from two years ago, with sky-high demand and record-low inventory driving intense competition for homes. But one thing has remained constant: Listing a home for sale in the spring yields the best results.
The potential price benefit from listing at the right time has grown with the rise in home values. Listing during the best or worst times of the year can impact a sale price by as much as $21,000, researchers said.
The difference was only $12,500 prior to the pandemic.
“With inventory as low as it is, home sellers can expect a quick sale pretty much year-round,” said Zillow economist Nicole Bachaud. “Even as frantic buyers are snapping up homes days after they hit the market and often bidding them up above list price, there is still value to be had by listing a home during the right time of year, which is in the spring in most cases.”
Some major markets, most coastal – including San Diego, Los Angeles and San Francisco – are outliers, with their best sale dates beginning earlier than April. In most large markets, though, listing in April or as late as May is the sweet spot.
Nationwide, the worst time to list a home is during the first two weeks of November, when homes sell for a 3.5% discount.
In addition, home listings in April attract upwards of 30% more page views per day than average, suggesting more interest that could spark a bidding war, driving the final sale above list price.
