Want to Sell Your Home Fast? Early May is the Best Time (But Now’s a Good Time, Too)
When do homes sell at their fastest? This varies, of course, but a new story by CNBC suggests that early May is the best time to list your home if you want it to sell as quickly as possible.
According to the story, which cites a study by online home listing site Zillow, homes listed from May 1 to May 15 sell nine days faster than does the average real estate listing. The Zillow study said that these homes also fetch an average of $1,500 more when they do sell.
What’s behind this? Often, there are fewer homes on the market during this time of year. Buyers, then, don’t have as many choices. This leads them to make higher offers as a way to win one of the smaller number of homes on the market.
Now, this doesn’t mean that you should fret if you missed this two-week period. In fact, the CNBC story says that certain markets have differing times in which homes sell more quickly. The CNBC story said that interest in homes in Chicago tends to spike a bit later in the summer, when warmer temperatures hit the area.
So listing your condominium or single-family in Chicago now is a good choice, too. In fact, this might be an ideal time to list your home. If you’ve been following the local housing market, you know that there aren’t enough condos and single-family homes for sale in Chicago today to meet demand. This means that if you are selling a home that is properly priced and staged, your odds of selling it are extremely high.
Price and showing condition are always more important than the time of year in which you list your home. This is a real estate truth that won’t be changing anytime soon.