If you’re gearing up to sell your house this year, the ideal time to put it on the market is right around the corner. A new report from Realtor.com has determined that the week of April 10 through April 16 is the best time to list a home for sale in 2022.
Listing during that week will allow sellers to capitalize on optimal market conditions that lead to a quick sale at a high price, according to the report.
“Sellers listing in mid-April can expect to find relatively high buyer interest, coupled with limited competition from other sellers, that equates to fast-selling homes at top dollar,” Danielle Hale, Realtor.com’s chief economist, said in a news release.
According to Realtor.com’s analysis, if typical yearly trends hold true, the median listing price for homes during the second full week of April could be $5,000 higher compared to the median listing price in an average week.
Last year, this same time period saw 29% more views per listing than an average week, and there were nearly 13% fewer sellers on the market. In 2021, homes spent 27 fewer days on the market during the second week in April compared to an average week in 2019. It’s also less likely that you’ll need to reduce your listing price to secure an offer: Realtor.com’s analysis finds that typically, there are nearly 14% fewer price reductions during this key week compared to an average week during the rest of the year.
Best time to sell a home can vary
Sellers have had an enormous advantage over the past two years thanks to pandemic-related disruptions that have transformed the housing market. But this year and every year, there are also seasonal forces in play: house hunting activity tends to be slower in the colder months and picks up as the weather gets warmer.
Of course, market conditions are variable, and there are enough factors at play that the "best" time to sell a house can change from year to year and is not always the same for everyone, in every location. Real estate firm Zillow notes, for instance, that people in climates that are warm year-round tend to have great luck selling in winter thanks to strong demand from snowbird homebuyers.
Each major housing market also has its own quirks: In Boston and Salt Lake City, Realtor.com recommends putting your home on the market during the week of March 20 (that’s next week!). In Miami and Raleigh, North Carolina, the company recommends listing later in the year, during the week of June 26.
This year, a combination of soaring demand for homes and a serious shortage of inventory means the spring buying market is heating up well ahead of schedule — and that’s good news for sellers looking to get the best possible price this spring.
Buyers, on the other hand, are facing some of the least affordable conditions ever. These conditions can work against sellers that are looking to buy a home at the same time they sell their old one. In light of how mortgage rates are on the rise, and that Fed rate hikes are likely to push them higher, it's worth considering buying as soon as possible with the hopes of securing a lower mortgage rate and lower monthly payments.