Homeowners looking to make the transition to homesellers would benefit the most by listing their property the week of April 10-April 16.
According to Realtor.com®, this is the best time for sellers to list this year. The site predicts that demand from buyers will increase the most this week for the whole year. According to data from 2021, the amount of buyers searching for homes online in this week were up 29% compared to other weeks throughout the year. Thus, sellers should be able to list their homes for more, to the tune of about $39,000, compared to the start of 2022. Homes listed are typically listed higher than 1.4% of the average median listing price of the year, and up 10.3% from the beginning of the year, or $5,000 more than the average home price of the year.
In addition to more buyers’ eyes and higher prices, historically, homes listed this week sold faster than in other weeks. In 2021, homes were on the market for 40 days on average, selling six days faster than the average for 2021 and 27 days faster than the average in 2019.
Despite these benefits, inventory is usually down this week too. The report said that there are 6.2% fewer sellers the week of April 10-16 compared to the rest of the year. In 2021, there were 12.9% fewer sellers than the average and down 20.4% compared to the first week of January 2021. Because of lower inventory and more demand, there should be less home price reductions as well. The report predicts there will be 13.8% fewer price reductions this week compared to the rest of the year. Home prices in April are typically more affordable than later months of the year, so price reductions are generally less common in the spring.
In Pennsylvania, Pittsburgh falls in line with the trend of the best time to list, with April 10-16 being most ideal. Home prices are expected to be up 10.6% compared to January, with 21.5% more property views and 47.5% less price reductions compared to the average week. Homes are expected to be on the market 15.7% less with 6.3% less inventory. In Philadelphia, it’s best to list a little earlier, the week of March 20 is most ideal. Listing prices will be up 5.4% compared to the start of the year and property views will be up 9.4% compared to a typical week. Price reductions will be down 34.4% compared to an average week and homes will be on the market 10.9% less than the average week.