For those looking to sell their homes and maximize on profit, the time to do so is just around the corner. In fact, according to a new realtor.com® report, the week of April 14 – 20 is shaping up to be the best time to sell and maximize ROI in 2024.
After looking at seasonal trends from 2018 – 19 and 2021 – 23, realtor.com® expects the week of April 14 to provide the ideal housing market conditions that favor sellers—with buyer demand coming in above average, low inventory levels and higher prices.
It’s also worth noting that another realtor.com® survey recently indicated that 53% of homesellers take nearly a month to prepare and get their home ready to list on the market, so for potential homesellers, now is the time to begin preparing for the busy spring selling season.
“Spring is generally the high season for home sales, and buyers tend to be more plentiful earlier in the year,” said realtor.com® Chief Economist Danielle Hale. “Because listing a home is a process, sellers should start preparing now so they can list their home at a time when conditions are likely to be most favorable, giving them the best chance of selling their home quickly and at a competitive price.”
Inventory is still close to 40% below pre-pandemic levels, so buyers are in need of available options, and sellers should look to take advantage of the ideal balance of housing market conditions expected the week of April 14 – 20.
Key data:
Above-average prices: Homes listed between April 14 and April 20 have historically seen prices reach 1.1% higher than an average week during the year and 10.4% higher than at the beginning of the year.
Above-average buyer demand: This specific week of the year typically garners 18.4% more views per listing than a typical week, although in 2023, that number increased to a rate of 22.8%. Demand for housing relies in part on mortgage rates, and falling rates can increase spring demand, while steady or increasing rates may motivate buyers to take more time to purchase a home.
Faster market pace: Throughout the week of April 14 to April 20, homes historically sell more quickly—roughly 17% (or nine days) faster than the typical week.
Less competition from other sellers: According to past season trends, there are typically 13.7% less sellers in the market during the week of April 14 compared to the average week during the year.
Below-average price reductions: Historically speaking, nearly 24.6% fewer homes have had a price decrease this week compared to the average week of the year.
For the full report, click here.
