Buyers pay up to 9.1% above asking on a certain day and up to 5.9% above in a certain month
According to the latest analysis from Attom Data Solutions, May is the best month to sell a home because homeowners, on average, received offers 5.9 percent above asking price — the highest of any month.
June and August were the second and third best months with an average seller premium of 5.8 percent and 4.2 percent, respectively. To no one’s surprise, winter months ranked last, since homeselling and buying activity tends to slow down as temperatures fall.
October and December were the worst months to sell, with homes only selling 1.6 percent above selling price.
If you’re going to bet on one particular day to sell, go with June 28 — on this day, homes were sold for 9.1 percent above asking price. Feb. 15, May 31, May 29 and June 21 also yielded great results for sellers as well — on these days, homes sold for 8.1 percent to 9 percent above asking price.
“May and the summer months are when buyer demand increases for a couple of reasons. First is the weather is warmer and more conducive for buyers to get out and about looking at properties,” Attom’s senior vice president Daren Blomquist said in an emailed statement.
“This is particularly true in markets with a colder winter and fall. Second, buyer demand increases because prospective homebuyers with kids are more willing to move during the summer months when their kids are out of school.”
Although summer months tend to usher in red-hot buyer demand in most markets, Attom found that markets with year-round high temperatures tend to be more active as the weather cools down. In Miami and Phoenix, for example, January and November are the best months for sellers to list their homes.
Article by Marian McPherson