Homeowners seeking a premium when selling their home should eye the months of May and June, a new analysis from ATTOM Data Solutions shows. The study is based on 33 million single-family home and condo sales between 2011 to 2019; it does not take into account the effect of the current COVID-19 pandemic on home sales this spring or summer.
Over the nine-year period in the study, home sellers typically find that warmer months offered the best times to sell, with an average boost 9.6% above market value in June and 8.3% higher in May. The five best days to sell, all with a 10% seller premium, according to the study, are June 22, June 21, June 29, June 20, and June 15.
“Timing the housing market is far from an exact science,” says Todd Teta, chief product officer with ATTOM Data Solutions. But in general, sellers have seen the highest prices in late spring and early summer, he adds.
“This year could be a striking exception if many potential home buyers stay home because of coronavirus social distancing or worries about job security,” Teta notes.
Sales price data stretching over nearly a decade shows that transactions completed in May, June, and July typically net 7% to 10% over market value, he adds. That amounts to about $17,000 to $25,000 on a typical home nationwide.
Source: ATTOM Data Solutions
