Welcome to March Madness in the world of real estate! You’ve heard it before: “List your home early in the year. That way, you’ll be ready to close the deal when home sales peak in June.” But what exactly does “early in the year” mean? When is the best time to list your home?
The Best Time to List Your Home According to Zillow
Zillow determined the best time to list your home based on an analysis of supply, demand and sellers’ outcomes. This magic window, they say, is mid-March to mid-April. Think March Madness to The Masters.
The Best Time to List Your Home According to the Weather
The best time and the exact weeks to list your home vary in different parts of the country, because the best time to list follows weather patterns. So in markets with warm climates like Miami, the best time to list is right now. But in places where winters are harsh, like Brooklyn for example, waiting until mid to late April is best. Nationally, the magic window for listing your home is in early May.
The Best Time to List Your Home According the Housing Market
In addition to the weather, housing market dynamics affect the best time to sell a home. A low supply of homes on the market, like we have now, pushes the best time to list your home into late spring. The decline in the number of homes on the market increases competition. This means buyers who start shopping for a home in early spring may need to look at several homes. It also means they will still be shopping a few months later. Then when May rolls around, these buyers may get eager to settle into their new home for the upcoming school year. This eagerness could make them willing to pay a premium to close on the house as quickly as possible.
What Makes the Best Time to List Your Home Magical?
When you list your home within the timeframe of the magic window, your home sells faster and for more money. And who doesn’t want that kind of magic? Data shows homes listed from mid-March to mid-April sell 15 percent faster and for 2 percent more than the average listing. That’s a national premium worth more than $4,000.
Are you selling your Brooklyn home this year? If you’re hoping to sell it quickly and get the most you can for the sale of your home, the best time to list is around May 7th. Data shows homes listed between May 1 and May 15 sell about 18.5 days faster and for 1 percent more than the average listing nationally. That’s an average premium of $1,700 for the seller of a median home. That’s magical, too!
Contact Charles D’Alessandro, your Brooklyn real estate agent with Fillmore Real Estate at (718) 253-9700 ext. 206 or email [email protected]. I can answer your questions about the best time to list your home in Brooklyn. Call me today to join in the March Madness of real estate!