Attom report reveals optimum homeselling time
The first half of the year serves as the best time to sell a home according to a new report released by Attom, a curator of land, property, and real estate data.
The company said the months of May, February, and April were the best times to put a home on sale as these were the periods which offered the highest seller premiums.
Analyzing more than 59 million single-family home and condo sales from the year 2011 up to 2023, it was found that homeowners who listed a property within those three months can yield higher seller premiums. The data suggested that while the first part of the year through summer was the busiest season for people looking to buy homes, it was also the best time for sellers to put their properties up for sale.
According to the report, the number of sales for single-family homes and condos from 2011 to 2023 for the month of May amounted to 5,360,810, reaching a seller premium of 13.1%. For February, the number of sales were 3,641,631 with a seller premium of 12.8% while April had 4,880,248 in sales and a 12.5% seller premium.
The report said the best day to sell was May 27 as it had a seller premium of 16.2%. This was followed by February 25 with 15.9%, February 17th with 15.8%, February 15 with 15.7%, February 22 with 15.5%, May 25 with 15.4%, March 30 with 15.2%, March 25 with 15.1%, and both February 28 and February 24 with 15%.
To gather the data, Attom analyzed the calendar days within 2011 to 2023 that had at least 11,000 single family home and condo sales, not including January 1, July 4, and December 25. The median sales price for homes with a purchase closing on that day were compared to the median automated valuation model (AVM) for the same homes at the time of the sale in order to calculate the premium paid on a certain day.
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