The Best Time to Sell Your Property is Rapidly ApproachingReturn to Blog
In spite of the fact that the home buying season has begun sooner than expected this year, Zillow says that homes recorded in May usually sell for more than other months in the year. Truth be told, the Mortgage Bankers Association said that January 2020 was the hottest January for purchasing mortgage applications in 11 years.
As the climate warms up, American homebuyers continue leaving to come out of their winter hibernation to search for new homes. While families with kids, which make up an enormous level of homebuyers, are bound to be excited to purchase, sell or move during the summer to avoid interrupting their child’s school experience.
Spring is the unofficial beginning to the homebuying season, however in May specifically, homes that hit the market at the start of the month sell for nearly 1% more than anticipated, as indicated by the Zillow report. In addition to the fact that they sell for more, homes sold in May typically sell around six days sooner, Zillow said in the report.
In spite of the fact that homes available in May could sell for higher prices, homes sold during the month of April sell faster. Furthermore, homes recorded on the ends of the week are seen the most on Zillow's website. New postings get the most consideration toward the end of the week and within the initial two days of being available. Zillow alludes to this as the “honeymoon phase,” and interest for these homes rapidly evaporates after. By the fifth day, the average home listing has half the same number of views as it did on the initial day. Following two weeks, postings fall significantly once more, to one-fourth of its underlying traffic, Zillow said.
If you are interested in buying or selling a home in the Bay Area this season, give us a call! Please contact Darryl Glass via phone (510) 500-7531, e-mail email@example.com, or schedule a brief consultation with Darryl directly on his schedule below:
Additionally, you can view our new, pending, and sold property listings by visiting our “Listings” page under the Real Estate tab at the top of this page.