A homeowner who lists their home during the right week could get $48,000 more from their sale, compared to listing at other times in the year.
And according to Realtor.com, the window for the best time to sell a home in 2023 is April 16-22.
To help sellers capitalize on the most ideal combination of market conditions, Realtor.com created a countdown page, complete with the House Whisperer, to help them identify the best week for their zip code and plan for their home sale.
Because sellers who don’t prepare for listing are far less likely to see a five-digit boost in their home’s market value during that window.
And by prepare, we mean making calculated repairs, adding valuable updates, and using effective marketing tactics. According to a survey by Realtor.com and HarrisX, 60% of homeowners spent up to three months completing these steps. So if you’ve got a seller on the fence, it’s time to help them get ready.
Many home shoppers kick off their search in the early spring and they often beat the majority of home sellers to the punch. For this reason, sellers who list on the earlier side will get more buyer attention and therefore be more likely to sell quickly and for a higher price.
Here’s what you need to know.
With for-sale inventory still low compared to pre-pandemic levels, even with mortgage rates hovering around 6.5–7%, sellers can still expect high buyer demand for well-priced homes.
Smart sellers who were hoping to maximize the ROI from their home sales are already making preparations to list their homes April 16-22 to take advantage of the sweet spot in the following market conditions:
According to that recent survey we mentioned earlier, it took most sellers (80%) two weeks to six months to prepare their homes for sale. The sweet spot (32%) was between 1-3 months.
For most sellers (56%), preparing their homes for listing took longer than expected, while 23% said it took less, and 22% said it took roughly as long as they expected.
With that in mind, it makes sense to encourage homeowners to start preparing as early as possible, in case it takes longer than their best guess. Focus on repairs and updates that ensure their home looks well cared for and up-to-date with routine maintenance.
You don’t want any of your sellers saying things like “Oh, yeah. I was meaning to fix that” to a potential buyer. This is where a thorough inspection comes in, along with the homeowner’s readiness (and ability) to make necessary repairs and improvements.
To prepare their home for listings, recent sellers took the following actions:
Chances are good that the agents consulted were those who had created content to help local homeowners prepare their homes for sale. And in order to market their homes effectively, sellers and their agents did the following:
Even minor home repairs can make a big difference during a showing. Buyers who see leaky faucets and doors that don’t close (or are difficult to open) are more likely to wonder about larger potential issues with the home.
Here are the most common repairs made by Realtor.com survey respondents:
In today’s market, it’s really important to price your home well and make sure that it looks its best in order to get top dollar and find a buyer quickly. There are still buyers in the market, but due to high prices and interest rates, they’re being a bit more picky than they were the past several years.