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The ideal time to sell your home may be nearing soon.
A recent report from Realtor.com shows that home sellers who list their properties during the week of April 13th to April 19th this year can sell about $27,000 more than other times of the year. The site evaluated seasonal trends and housing indicators, but did not take into account mortgage rates as they did not follow seasonal patterns.
“This is the right time to move forward with the list,” said Joel Burner, a senior economist at Realtor.com.
Of course, the ideal time to sell may vary each year.
Another Zillow report found that the homes listed in the last two weeks of May 2024 sell 1.6% more than other times of the year, a $5,600 boost for a typical US home. However, the report states that “it’s not certain that this spring home shopping season will follow the patterns of last year.”
According to Zillow, sellers typically get better returns when listed between March 15th and July 31st, but many factors can affect premium timing.
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Additionally, the peak hours for selling your home may depend on the market conditions in your area. According to Zillow data, San Diego homes are listed as being able to sell for about 2% more in the second half of March than in other times of the year, or for $20,100. Meanwhile, the site discovered that it would be better to list Phoenix homes when there is a 1.4% price premium, or $6,400, in the second half of November.
Experts say if you plan to sell your home in 2025, that’s something to consider.
Things you need to know about the housing market this spring
Spring is usually when the housing market sees the most activity from buyers and sellers, experts say. Home buyers often start summer and are about to close their purchases ahead of the new academic year.
According to Zillow’s home trend expert Amanda Pendleton, sellers often want to capture “sweet spots” that list their homes when more buyers are looking, or when their property looks the most attractive.
In the spring, “the flowers are beginning to bloom and the grass is green,” she said. “Your home looks great.”
The same principle applies whether they list apartments, condominiums and cooperatives, Pendleton said. You are still trying to introduce your property when your property looks and feels the best. During the spring, the city is lively and this can be a “big selling point.”
“No one wants to see a desolate city full of snow,” Pendleton said. “You’re still trying to capture the best view possible.”
“Typical” Spring Housing Market
Experts say there hasn’t been a “typical” spring housing market for many years. The pandemic freezes the housing market that spring in March 2020, blocking the country.
The market was then hotter as they bought and sold activities for most of 2021. In 2022, the spring housing market was affected as the Fed began to withdraw borrowing costs in March.
Most buyers were curbed due to high prices and mortgage rates, but they returned to slightly normal at Spring Market in 2023. However, last year, the spring housing market essentially took place in the fall. At that point, the Fed had cut interest rates for the first time in years.
It is still unclear how the housing market will pan out in the spring of 2025 as mortgage rates remain volatile.
“If mortgage fees cooperate,” Pendleton said, the housing market should continue to normalize from the intense seller’s market over the past few years.
According to data from Freddie Mac, the 30-year fixed-rate mortgage was 6.65%, down from 6.63% for the week ended March 13th until March 13th.
Is it possible to calculate your listing perfectly?
Mortgage rate lock-in blocked homeowners who secured low interest rates because they were reluctant to fund new properties at higher market rates.
However, although prices remain above 6%, more sellers have cited the home as a life event, such as home growth and the need for relocation.
For home sellers running against clocks, whether it’s a new baby or a new job, experts say the list may have little room to take full time.
But those with more time are in a stronger position to plan, especially as buyers need to gain more power and sellers need to be more strategic in timing. Even if you’re not too flexible when listing, “Get the price right” can help you sell your home faster, Burner recently told CNBC.
Work with experts such as real estate agents and brokers in your area to come up with strategies. Local real estate agents have better knowledge of the complexities associated with your area, Berner said.
