This Just In: Data Says Sell in May
According to a newly released report by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home. #realestate #market
For the study, ATTOM performed an analysis of 14.7 million home sales from 2011 to 2017 to find the average seller premium achieved for each month of the year. Below is a chart by month:
ATTOM even went a step further to break down their results by day.
Top 5 Days to Sell:
June 28th – 9.1% above market
February 15th – 9.0% above market
May 31st – 8.3% above market
May 29th – 8.2% above market
June 21st – 8.1% above market
It comes as no surprise that May and June dominate as the top months to sell and that four of the top five days to sell fall in those two months. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, which often leads to bidding wars.
One caveat to mention though, is that when broken down by metro, ATTOM remarked that, while warmer climates share in the overall trend, it turns out that they have different top months for sales. The best month to get the highest price in Miami, FL, for instance, was January, and Phoenix, AZ came in with November leading the way.
Those who are considering selling a home in the next 3 to 6 months can get a free Home Seller's Guide that's packed with info on what's happening in the housing market, forecast, what to expect when selling your house, 5 reasons to sell this spring, how a lack of listings is slowing down the market, buyer demand outpaces inventory of homes for sale and the real reason why home prices are increasing. The free Home Seller's Guide is at:
http://www.simplifyingthemarket.com/en/sellers/?a=235135-734a31a443e895f511e26b0de9bbbb1a
If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, homes sold in an average of just 30 days last month! If you list now, you’ll have a really good chance to sell in May or June, setting yourself up for getting the best price!
Corey Chambers, Broker Associate, Realty Source Inc BRE#01889449
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