Selling a Home? Survey Reveals Ideal Time to Get the Best Deal

A sold sign is posted in front of a house in Washington, on Feb. 26, 2022. (Stefani Reynolds/AFP via Getty Images)

A new study by Realtor.com indicates the week of April 16 through 22 is the best time for homeowners to sell, plus they could get $48,000 more for their home during that week than if they sold at the beginning of the year.

A combination of higher prices, fewer homes on the market, faster sales times, and strong buyer demand are said to be at optimum levels during this early week of Spring. The Realtor.com and HarrisX survey found that 60 percent of home sellers spent up to three months preparing their homes for the market.

“Many home shoppers kick off their search in the early Spring and they often beat the majority of home sellers to the punch,“ said Realtor.com chief economist Danielle Hale. ”For this reason, sellers who list on the earlier side will get more buyer attention and therefore be more likely to sell quickly and for a higher price.”

The report also found that homes listed during this week have traditionally garnered prices that are 1.2 percent higher than the average week throughout the year, and are typically 12.1 percent higher than at the start of the year. The more buyers seeking homes, the better, as the home is more likely to get more offers and sell much quicker.

5-bedroom, 2 ½ bath house in Seattle listed at $1.429 million. (Courtesy of Dean Rebhuhn, Village Homes and Properties, Seattle)

“Historically, this week has reaped 16.4 percent more views per listing than the typical week, but in 2022 this week received 32.5 percent more views per listing than the average week,” the report notes. Additionally, homes listed during this week have tended to sell 18 percent faster than the average week.

Phoenix Draws Buyers

Butch Leiber, president of the Phoenix Realtors in Arizona, agrees that this early Spring timeframe is a great period to sell. “While we don’t typically have cold weather here, March and April are always the best months for sales,” he told The Epoch Times. “Kids are getting out of school in May or June just in time for closings and before the very hot weather with those 100-degree-plus days.”

A big part of the Phoenix buyer market is comprised of people seeking second homes, and they typically like to look for properties during the early Spring. The “snowbirds,” as they are known, typically travel to the Phoenix area after Thanksgiving and leave before the sweltering summer days.

“The market has been like clockwork with a boost of activity in the Spring, closings in early summer, a slowdown in mid to late summer, and then a pickup again in the Fall,” Leiber said.

He noted the largest migration of buyers to the area has been from various locations in California, Seattle, and Chicago.

With the current median price of a single-family home at $450,000 in Phoenix and its surrounding areas, potential homebuyers from these migrating locations may be able to score a bargain compared to home prices in their locales.

“Just three years ago, the median home sales price in the Phoenix valley was $320,000 and five years ago, almost 85 percent of the homes here were selling for under $400,000,” Lieber said. “There’s been a massive shift in affordability.”

A single-family, 3-bedroom, 2-bath home listed for $430,000. (Courtesy of Butch Leiber, Realty Executives, Phoenix)

Over the past few years, Phoenix has been among the top five fastest growing areas in the nation. “We have a good mix of people—retirees and younger people looking for a less expensive place to live and nice weather,” Lieber said.

Almost Zero Inventory in Boston

Lisa Rainis, executive manager of sales for Douglas Elliman Real Estate in Boston and the surrounding area, told The Epoch Times that in this particular market, any time seems to be a great time to sell.

“We have almost zero inventory here and the luxury market in Boston is really hot,” she said. “We recently had a $4 million property in Wellesley on the market for only three days before getting several offers.”

The most expensive estate in the history of Beverly, MA recently sold at $18.25 million. (Courtesy of Lisa Rainis, Douglas Elliman Real Estate, Boston)

With the current median sales price of $990,000 for condominiums in Boston proper, most first-time homebuyers will be forced to travel deep into the outer suburban areas to find something more affordable.

“The message we’re sending to our agents is that it’s so important to get more listings, and hopefully the mortgage rates will begin to stabilize this Spring,” Rainis added.

Rianis admits there are still quite a few bidding wars on “move-in ready” properties but its not quite the frenzy during the pandemic. “Many sellers are still getting over-asking prices, and we even had one luxury property that brought in $300,000 over asking,” she added.

Steady Seattle

Dean Rebhuhn, president of Village Homes and Properties in Seattle, said they start seeing an uptick in business once the Superbowl is over.

Unlike the Northeast or Southwest, Seattle’s temperatures tend to be fairly moderate throughout the year so home sales may not be affected as much by the weather as other sections of the country.

Rebhuhn also noted that market activity depends on several factors, including interest rates and inventory.

“We’re getting into a very active period now even though our inventory is very low,” he told The Epoch Times. “We recently saw 17 offers on a home priced at $550,000, and it needed a new roof, new carpeting, and other upgrades.”

Currently, the median sold price of a single-family home in Seattle is $659,940 and $726,700 in surrounding Kings County.

Both the city and its suburban areas continue to attract technology-focused employees. “In fact, a couple—both in the tech industry—recently paid cash for a $2.7 million home,” he said.

“There seems to be a pent-up buyer demand in the market fueled by work-at-home couples who need more space, younger couples wanting to start a family, and older couples looking to downsize to a smaller space.”

The Realtor.com survey also named the most common repairs needed prior to listing a home for sale: 16 percent listed minor cosmetic updates like replacing faucets and light fixtures, followed by 14 percent for carpeting or floor replacement.  Over 12 percent listed painting, landscaping, and replacing kitchen or laundry appliances. Just over 8 percent reported replacing major systems like HVAC or a new roof.