Home sellers looking for the highest premium for their property do best in May, June, and July, according to data compiled by ATTOM. (There are metros where home prices shot up this year.)
To identify the best months to sell a home, 24/7 Wall St. reviewed the report Spring and Summer Home Sales Yield Best Days of the Year to Sell A Home published by ATTOM Data Solutions. ATTOM compared the median sales price for homes closing on a specific calendar day from 2011 to 2021 with the median automated valuation model for those same homes. The rank is based on the seller premium from lowest to highest.
In May, June, and July, the premium on home sales is 10% or above, according to ATTOM. May has the highest premium of any month at 12.6%, and that month also has the five top days to sell: May 23, May 27, May 16, May 20, and May 19.
According to real estate site Trulia, among the reasons why May is a favorable month for sellers is that the timing synchronizes with the new school year, which will not start until August or September. Also in May, the weather is beautiful and houses show better when flowers are in bloom. Another reason is that spring break vacations are over and people have not gone on summer vacation yet. Finally, prospective homeowners are flush with tax-refund money.
July has the highest median sales price at $219,900, followed by June at $217,703. June has the highest number of sales at 4,585,313, followed by August at 4,554,002. (These are cities where people can’t wait to leave.)
Click here to see the best month to sell your home
Click here to read our detailed methodology
Sponsored: Find a Qualified Financial Advisor:
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Source: Read Full Article