May 6, 2021
May 23rd: The Day to Sell
Spring is the season of new beginnings, with flowers blooming and the remnants of harsh winter slowly disappearing. As people emerge from their homes, they are finally ready to start the search for their new residence. A similar story for sellers as homes are much more appealing when the sun illuminates the properties features and can allow fresh air to portray the home in a positive light.
Historically, spring and summer have been the strongest months to sell a home. According to a new study by ATTOM Data Solutions, home sellers on average have an 8.8% premium above the market these months.
Of these key months, May has been a stand-out in the number of homes sold over the past ten years. Out of 40.1 million home sales from 2011 to 2020, sellers saw an average of 13.4% above market value when sold during the month of May (AATOM). Although other spring/summer months had high percentages, May blew them out of the water. Analyzing even further, there are five key days in the month of May that perform the highest. These days being May 16th, May 19th, May 20th, May 23rd, and May 27th.
Among these five, there is a clear winner – May 23rd. Homes sold on this day have sold on average 19.3% seller premium above market value (ATTOM). Whether it be the wonderful weather and beautiful flowers May has to offer – the verdict is in May 23rd is the best day of the year to sell your home. With this special day being on a Sunday this year, it is an excellent time to consider listing your home on the market.
The pandemic has created a unique set of circumstances in the real estate realm. One that is characterized by the seller’s controlling the market. If you are thinking of selling your home – now is the time! Take advantage of eager buyers who are willing to pay above asking and sell your home for what it is worth.
When deciding to place your home on the market it is imperative to seek exceptional counsel. Having a real estate agent that is well versed in the spring market and its prime moments is crucial to selling your home quickly while making a profit.