May is the Best Month to Sell Your Home -The Jim's

Real Estate

According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home.

For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:

When_is_the_best_time_to_sell_5-2-2018

ATTOM even went a step further and broke their results down by day.

Top 5 Days to Sell:
June 28th – 9.1% above market
February 15th – 9.0% above market
May 31st – 8.3% above market
May 29th – 8.2% above market
June 21st – 8.1% above market


It should come as no surprise that May and June dominate as the top months to sell and that 4 of the top 5 days to sell fall in those two months. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, which often leads to bidding wars.

One caveat to mention though, is that when broken down by metro, ATTOM noticed that while warmer climates share in the overall trend, it turns out that they have different top months for sales. The best month to get the highest price in Miami, FL, for instance, was January, and Phoenix, AZ came in with November leading the charge.

If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, homes sold in an average of just 30 days last month! If you list now, you’ll have a really good chance to sell in May or June, setting yourself up for getting the best price!

Bottom Line


Let’s get together to discuss the market conditions in our area and get you the most exposure to the buyers who are ready and willing to buy!

Call Jim 631-974-9153 to discuss, THANKS :-)

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. James McKenna & Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.