11 days of the year offer seller premiums of 10 percent or more – eight of which occur in the Summer months of June, while three occur in May.
According to the analysis, home sellers see the hottest premiums as the weather heats up – on average 9.6 percent above market value in June and 8.3 percent above in May. This analysis of more than 33 million single family home and condo sales over the past nine years shows that these two months are when people are the most motivated to buy; therefore if you’re considering selling your home soon, start now to increase your chances of a higher seller premium.
“Timing the housing market is far from an exact science. But home sellers who want to get the highest price should aim to complete their deals during the peak house-hunting season in late Spring or early Summer, when the most potential buyers are out looking,” said Todd Teta, chief product officer with ATTOM Data Solutions. “This year could be a striking exception if many potential home buyers stay home because of Coronavirus social distancing or worries about job security. But sales price data going back almost a decade shows that transactions completed in May, June and July typically net 7 percent to 10 percent over market value, which amounts to around $17,000 to $25,000 on the typical home nationwide. That’s a nice markup compared to other times of the year.”
#realestatemarket #homesales #springmarket #realestatetrends #bostonrealestate #homesforsale