This Is the Best Time of Year to Sell Your Home—and It's Almost Here

If you’ve been getting ready to sell your house this spring, you’re not alone. Spring and summer are the two most popular seasons for buying (and selling), so it makes sense to have your home market-ready before the warm weather hits.

Realtor.com went a step further with their home-selling advice this year: their latest report predicts one specific week this year they say is the best week of 2024 to sell your home: the week of April 14th-20th. 

How They Determined the Best Week to Sell

There are several different factors that went into Realtor.com’s official report, which was released on March 21st. The real estate brand didn’t just look at market pricing; they also examined historical competition rates, selling time, and buyer demand. All of these factors helped to determine the all-around best week for sellers this year.

This leaves prospective sellers with around a month to prepare their home for a spring listing. Realtor.com’s average time to prepare a home before listing it is around one month or less, according to their recent survey—giving potential sellers just enough time to get their home on the market for the week of April 14th. 

“Spring is generally the high season for home sales, and buyers tend to be more plentiful earlier in the year,” said Realtor.com Chief Economist Danielle Hale in the official report. “Because listing a home is a process, sellers should start preparing now so they can list their home at a time when conditions are likely to be most favorable, giving them the best chance of selling their home quickly and at a competitive price.”

Competitive pricing is another factor Realtor.com focused on making easy when choosing the best week of the year to sell. Historical trends indicate that that listing prices are around 10% higher than average at the start of the year. This means that homes could be valued up to $34,000 more than they would have been if sold at the start of 2024. 

Home-Buying Demand Is Still High

Despite higher-than-average housing prices, buyer demand for homes has still been historically at a high during the week of April 14th. On average, homes have seen around an 18% increase in listing views during this week in the past.

The heavy buyer competition means that homes tend to sell around nine days faster on average during the week of April 14th, making it easy to sell your home quickly during this time of year. Realtor.com notes that during 2023, homes were on the market around for around 46 days when on the market during the week of April 14th—that’s six days faster than last year’s average.

Listing price reductions are also below average during the week of April 14th, falling nearly 25% when compared to the average number of homes that suffered a listing price decrease. 

Low Competition

Even with all of these benefits, seller competition is predicted to be low this year during the week of April 14th; historically, Realtor.com reports that there are actually fewer sellers on the market during this week than on average, historically dropping nearly 14%. 

The real estate website also notes that it’s important to consider mortgage trends when looking into selling your home. Mortgage rates are expected to decline later this year, and once that happens, there will be even more buyer demand.

For both buyers and sellers, Realtor.com reports that historical prices peak during the month of June; although this incentivizes sellers to list their home during June, the seller competition during this month is also extreme.

This is just another reason why Realtor.com set the all-around best week to sell your home during April, when you’re more likely to beat out the competition and sell your home quickly (and for a higher-than-average price). 

To get even more information on the best time to sell a home (and take a look into how Realtor.com determined their predictions for 2024), you can view the official report on Realtor.com’s website. The Realtor.com buyer and seller tools listed in the report are also available to use on their official website.

Read Next: 5 Tips from The Home Depot's Experts to Get Your Home Ready for Spring

Read the original article on The Spruce.