Photo: Robert Clark
The month of May could just be the best overall month to sell your home if you live in the US.
But if you want to get super-specific, the best date to sell a house is June 28, according to a newly released report by ATTOM Data Solutions, a multi-sourced national property data warehouse.
“It was a bit of surprise in that the best time to sell was late spring and early summer as opposed to later in the summer. The implication for sellers is that they are best off if they put their home up for sale in April or May to get the sale closed by May or June,” ATTOM’s Senior Vice President of Communications Daren Blomquist tells BuzzBuzzNews.
Based on the ATTOM team’s research, June 28 had a “seller’s premium” value of 9.1 percent. On that date, homes sold had a median value of $204,000, or 9.1 percent above the median estimated value of $187,000.
The runner-up for the best day of the year to sell was February 15, with a seller’s premium of 9 percent. This date may have less to do with broken hearts and more to do with beginning of the year sales closing on average 30 to 45 days later, or around Valentine’s Day.
“I think this is most likely coincidental in terms of its proximity to Valentine’s Day, but maybe there is something there,” Blomquist jokes.
To determine the best date to sell, ATTOM analyzed over 14 million single-family home and condo sales between 2011 and 2017, comparing the median price of the homes. It also examined the estimated market value of the homes in the month that they were sold.
Next, it figured the seller’s premium value for each date — the percentage the median sale price was above (or below) the estimated market value at the time of the sale.
“Home sellers have enjoyed an extended seller’s market over the last seven years and home sellers in the late spring and early summer are seeing the largest premiums,” writes ATTOM in the report.
Some 17 of the best 20 days to sell a home were in the months of May and June.
Other “best days to sell” were, in ranking order May 31, May 29 and June 21.
Sellers can use these dates to form an effective and successful strategy for listing their home.
“From the data, sellers should understand that there are better times of the year to sell. Second, use these dates to backtrack to when they should start thinking about listing their property, which will be about 30 to 45 days before the actual sale dates,” Blomquist advises.
Click here to read the entire release.