Posted
on Monday, April 4, 2022
in
Mortgage Lending
Best Week to List Your House is Closely Approaching
According to Realtor.com, the “sweet spot” for home sellers is nearing. In a recent study, experts looked at housing market trends for the past several years (excluding 2020, which was not a typical year due to COVID-19). Experts then determined the best week to list your home for sale.
“Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2022 is approaching quickly. The week of April 10-16 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year,” said Realtor.com.
Spring Buying Season is Here!
Through their research, the experts discovered the following prime conditions exist, looking at seasonal trends from 2018-2019 and 2021 data. Each week was scored based on favorability toward sellers - this included competition from other sellers, listing prices, market pace (days on market), likelihood of price reductions, and homebuyer demand per views on Realtor.com.
On a national level, listing April 10-16, 2022, represents a balanced selection of market conditions that favor sellers.
- Surging buyer demand. 29% more buyers view listings on Realtor.com, compared to the average week in 2021.
- Above average prices. +$39,000 higher asking prices than at the beginning of the year, based on 2021 trends.
- Quicker sales. Historically, homes actively for sale during this week sold 13.2% faster than the average week.
- Less competition from other sellers. Due to overall inventory scarcity, this week saw 12.9% fewer sellers with homes actively listed than during an average week in 2021.
- Fewer price reductions. Trends indicated 13.8% fewer price reductions during this week, compared to the average week throughout 2021.
What are the Key Takeaways?
The study also found that, historically, the number of views per listing has cooled in the late summer/early fall. By mid-August, the number of sellers has increased by 17.4% over the beginning of the year, which means more options for buyers.
So as a home seller, this is the time of the year when you could catch a break. If you’ve been hesitating about making the move, now is the time before summer arrives. If you’re ready to take action quickly, April 10-16 could put you in the driver’s seat, but you’ve got to get the ball rolling.
Taking Action
To jumpstart the selling process, make a checklist of the projects you need to complete to get your house ready to sell and to stage it for buyers. Then, contact a real estate professional who can help get your home listed on the market.
Your agent can also refer interested buyers to First National Bank, where our mortgage lenders can work through the mortgage lending process with prospective buyers.
- first-time homebuyer
- home buying
- home selling
- mortgage loan