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Listing in Early May Can Earn Home Sellers a $2,100 Premium

Sellers who list in the first two weeks of May typically earn the greatest premiums, but homes listed in late April sell the fastest

-- The first two weeks of May are typically the best time to list a home for sale to get the highest sale price. This window varies across the country, with the earliest window being in San Diego and the latest in Cincinnati.

-- The premium for listing during these windows reaches as high as $24,400 in the most expensive market, San Jose.

-- Late April typically brings the quickest sale when selling traditionally, seven days faster on the median sale, as early buyers try to beat the rush.

Feb 27, 2020

SEATTLE, Feb. 27, 2020 /PRNewswire/ -- To get the most money when selling your home, the best time to list it for sale is typically the first half of May, a Zillow® analysis shows. Listing your home during this window can bring a median premium of $2,100 on the typical U.S. home -- and as high as $24,400 in expensive markets.

Spring is commonly known as the beginning to home shopping season, when the weather starts to turn for the better and home shoppers return to the market in droves. Early signs for 2020 suggest inventory will be historically tight and we could see the most competitive home shopping season in years. While bidding wars could be the norm in many markets this year, savvy sellers may be able to maximize their returns by listing their home at the right time.

Early May is the best time to list in 17 of the 35 largest metros in the U.S. But there are some differences across the country, which could be impacted by local market dynamics or even the weather -- buyers don't want to drive to showings or open houses through the snow, if they can avoid it. The earliest is in San Diego, where the second half of March is typically the best time to list. The latest is in Cincinnati, where sellers see the greatest premium when listing their home in the first half of July.

The typical premiums when listing during these windows are greatest in San Jose, Minneapolis-St. Paul and Seattle. Homes in San Jose listed in late April bring a 2.1% premium, or $24,400 on a typical home there. The typical premium sellers in the Twin Cities that list in the suggested early May window can earn is 2%, or $5,700 on the median home there, while those in Seattle that list at the same time typically earn a 1.8% premium, or $9,500.

If selling quickly is your top concern, then listing your home in late April is the way to go when selling traditionally. Homes listed then sell seven days faster at the median and typically bring a $1,500 premium. Potential sellers in Dallas-Fort Worth, San Antonio and Columbus may have more time to prepare, as homes typically sell the fastest there when listed in the first half of June. But those in San Francisco or Denver may have already missed the window – the median sales in those metros come the fastest when listed in early February.

"Home buyer demand ebbs and flows in a predictable cycle every year, which means that an astute seller can time their listing date like a sailor reading a tide chart to embark at high tide," said Jeff Tucker, a Zillow economist. "Many sellers are motivated to get their homes on the market by external forces, such as job moves or school years. But to the extent a home seller can target a certain time of year, it's hard to beat selling in early May, when listings fetch the highest sale prices and move off the market quickly. Late April is not a bad option either, when homes sell even more quickly than in May, thanks to early-bird buyers rushing to beat the crowds. If this winter's surprisingly hot leadup to home shopping season is any indication, sellers this spring will see plenty of demand and little competing inventory for their listings."

Zillow pageview data shows that first impressions matter a great deal. Homes average 74 page views their first day on the market. By the fifth day, that's cut nearly in half to 38 views, and falls all the way to 18 views per day after two weeks.

Saturday is the best day to list your home for sale. Homes listed on Saturday average the most page views in the first week, and 24.8% more than homes listed on Tuesday, the worst day.

Sellers who want to take advantage of these trends should begin preparing early. Not starting the process sooner is the most common regret among sellers, in part because nearly three-quarters of sellers make at least one home improvement during the process, and at least a quarter of those said their projects took longer than expected.

For those looking to avoid the hassle of repairs and other home selling headaches altogether, one option is to request a no-obligation cash offer from Zillow Offers, Zillow's new home-buying program. Zillow Offers allows homeowners in participating markets to sell on their own timeline and with less hassle, avoiding showings, open houses and prep that usually take place when selling traditionally.  Zillow Offers launched in 2018 and is available in 23 markets nationwide. 

Metro Area

Best Time to List
- Most Money

Median
Premium

Best Time to List
- Fastest Sale

Median Days
Faster

United States

Early May

$2,100

Late April

7

New York, NY

Late May

$3,500

Early April

11.5

Los Angeles-Long Beach-Anaheim, CA

Late May

$6,900

Late April

6

Chicago, IL

Early May

$3,100

Early May

12

Dallas-Fort Worth, TX

Early June

$2,200

Early June

3

Philadelphia, PA

Late April

$2,400

Early May

9

Houston, TX

Early May

$1,800

Early April

6

Washington, DC

Late May

$4,400

Late April

9

Miami-Fort Lauderdale, FL

Early May

$1,800

Early May

9

Atlanta, GA

Early June

$1,900

Early April

8

Boston, MA

Late May

$7,200

Late May

7

San Francisco, CA

Late April

$18,100

Early February

4.5

Detroit, MI

Early May

$2,400

Early March

9

Riverside, CA

Early May

$4,100

Late April

7

Phoenix, AZ

Early May

$2,200

Late April

6

Seattle, WA

Early May

$9,500

Early May

7.5

Minneapolis-St Paul, MN

Early May

$5,700

Late April

7

San Diego, CA

Late March

$8,100

Early April

8

St. Louis, MO

Early May

$2,300

Late April

10

Tampa, FL

Late April

$1,500

Early April

7

Baltimore, MD

Early May

$3,000

Early April

12

Denver, CO

Early May

$5,500

Early February

6.5

Pittsburgh, PA

Early June

$1,200

Late April

12

Portland, OR

Early May

$6,400

Early April

10

Charlotte, NC

Early June

$1,800

Late April

6.5

Sacramento, CA

Early May

$6,100

Early April

9

San Antonio, TX

Late May

$1,500

Early June

6

Orlando, FL

Early June

$2,300

Late March

7

Cincinnati, OH

Early July

$1,500

Late April

9

Cleveland, OH

Early May

$2,400

Early May

13

Kansas City, MO

Late May

$2,600

Late May

6.5

Las Vegas, NV

Early May

$2,700

Early March

7.5

Columbus, OH

Early June

$2,900

Early June

9

Indianapolis, IN

Early May

$2,500

Late April

8

San Jose, CA

Late April

$24,400

Late April

4.5

Austin, TX

Early May

$2,900

Early May

4.5

About Zillow

Zillow® is transforming how people buy, sell, rent and finance homes by creating seamless real estate transactions for today's on-demand consumer. Zillow is the leading real estate and rental marketplace and a trusted source for data, inspiration and knowledge among both consumers and real estate professionals.

Zillow's proprietary data, technology and industry partnerships put Zillow at nearly every major point of the home shopping experience, helping consumers search for and get into their new home faster. Zillow now offers a fully integrated home shopping experience that includes access to for sale and rental listings, Zillow Offers®, which provides a new, hassle-free way to buy and sell eligible homes directly through Zillow; and Zillow Home Loans, Zillow's affiliated lender that provides an easy way to receive mortgage pre-approvals and financing. Zillow Premier Agent instantly connects buyers and sellers with its network of real estate professionals to help guide them through the home shopping process. For renters, Zillow's innovations are streamlining the way people search, tour, apply and pay rent for leased properties.

In addition to Zillow.com, Zillow operates the most popular suite of mobile real estate apps, with more than two dozen apps across all major platforms. Launched in 2006, Zillow is owned and operated by Zillow Group, Inc. (NASDAQ:Z and ZG) and headquartered in Seattle.

Zillow and Zillow Offers are registered trademarks of Zillow, Inc.

 

SOURCE Zillow

For further information: Alex Lacter, Zillow, press@zillow.com