I don’t recall a seller’s market quite as hot as the one currently in Atlanta, GA. Homes are listing for nearing double their asking price 6 years ago, and getting cash offers with bonuses. Talk about Zillow gone wild! But for an even quicker sell, examine what day of the week you should list your house….
Quick Sell Your Home by Listing on Thursday Before Labor Day
Zillow tells us,
In today’s competitive housing market, the time it takes to sell a home is measured in days, not weeks. Homes listed on a Thursday sell faster on average and are more likely to sell above list price than those listed on any other day of the week, a new Zillow® analysis reveals. And while this spring selling season may not look so different from the rest of the year as the pandemic-fueled market has stayed red-hot through traditional slow periods, Zillow recommends listing your home before Labor Day based on historical market trends.
Day of the Week Trick
What day of the week is best to list your home? Thursday. Who knew? Other days of the week (such as Sunday) result in an eight-day longer wait than a Thursday listing. This might be because getting visitors to your listing on the weekend and grabbing those offers is best gleaned by a pre-weekend listing.
Jeff Knipe, president of Knipe Realty in Portland, Ore., always recommends his clients list homes on a Wednesday or Thursday. “Home shoppers I work with tend to be most active on Thursday and Friday as they plan their weekend tour schedules. With the market as competitive as it is today, this timing strategy gives sellers the best chance at seeing multiple offers on their home, from my experience,” Knipe said. “Think of selling a home as if you’re going fishing; the goal is for the most possible fish to see your home as it enters the pond.”
Stats prove that summer Thursday listing are likely to sell for higher prices, too. In this hot, hot market were listings are only lasting a week or so, those few days can be crucial. Typically, 21% of homes are listed on a Thursday, which shows that the pre-weekend trend is catching on.
Wait, Labor Day?? Huh?
When school heads back into session, people are traditionally not looking for homes to move into. Families and jobs head into the fiscal year in high gear, not looking for changes. Of course, that’s not a hard and fast rule, but a general guideline.
Labor Day is the traditional end to home shopping season, and a time when homes tend to sit on the market the longest as parents aim to be settled in their new home before their kids head back to school. The worst time to list for those looking for an above-list sale in 2019 were the weeks of October 14 and 21, when homes were least likely to sell above their asking price. – Zillow
In today’s market, buyers and sellers can use modern tech to quickly narrow down their options for homes, not having to wait for physical showings or interviews with realtors. A quick trip to Zillow.com can share a wealth of information, statistics, photos, and that occasionally entertaining “Gone Wild” listing. Check out this crazy purple house!!
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What hot tips do you use when buying or selling a home? Leave me a comment below!