StreetEasy: March is the Best Time to List Your Home in NYC
NEW YORK—March is the optimum month to list homes for sale in New York City, according to a StreetEasy analysis.
Historically spring has been the hot season for New York City’s property market. With demand at its highest in April and supply peaking in June, properties listed in March have more chance of a fast sale, according to Alan Lightfeldt, a data scientist at StreetEasy.
The discount rate has been lower in March as well. This means sales closed in March have historically closed closer to their asking prices.
“Similar to New York City as a whole, demand is highest in April and supply is highest in June for Manhattan and Queens, so listing your home in March may lead to a faster, full-price sale,” according to StreetEasy.
“For Brooklyn, median days on market are lowest in late February, making it the best month to list in that borough overall. But if you Brooklynites haven’t listed yet, fear not: although February is the better month, the prime weeks occur a little bit later in the spring during the second and third week of March,” according to StreetEasy.
For Bronx homes, April is the best month to list, according to the data.
Staten Island, the forgotten borough, was omitted from StreetEasy’s study because of insufficient data.
Lightfeldt’s team measured the number of listings on StreetEasy, the volume of page views and contacts made to agents through the site, and the final outcome of the listings, to measure the historical supply and demand.