Have you ever wondered about when is the best time to sell your home? We can look at the history of sales and come up with some ideas about market activity.
According to a newly released study byATTOM Data Solutions, selling your home in the month of May will net you an average of5.9% above estimated market value for your home.
For the study,ATTOMperformed an“analysis of 14.7 million home sales from 2011 to 2017”and found the average seller premium achieved for each month of the year. Below is a breakdown by month:
ATTOM even went a step further and broke their results down by day.
Top 5 Days to Sell:
June 28th– 9.1% above market
February 15th– 9.0% above market
May 31st– 8.3% above market
May 29th– 8.2% above market
June 21st– 8.1% above market
It should come as no surprise that May and June dominate as the top months to sell and that 4 of the top 5 days to sell fall in those two months. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, which often leads to bidding wars.
One caveat to mention though, is that whenbroken down by metro,ATTOMnoticed that while warmer climates share in the overall trend, it turns out that they have different top months for sales. The best month to get the highest price in Miami, FL, for instance, was January, and Phoenix, AZ came in with November leading the charge.
If you’re thinking of selling your home this year, the time to list is NOW! According to theNational Association of Realtors, homes sold in an average of just 30 days last month! If you list now, you’ll have a really good chance to sell in May or June, setting yourself up for getting the best price!
Most recent date for Charleston for days on market, inventory, and price per square foot: