For homeowners considering selling, there’s good news: data suggests a sweet spot in the 2024 market. According to Realtor.com, the week of April 14th to 20th appears to be the ideal timeframe to list your property for optimal results.
This prime window combines several factors that benefit sellers. Here’s what makes this week so attractive:
- Low Inventory: Compared to pre-pandemic levels, there’s a projected 40% less inventory during this week. This means less competition for your listing, potentially leading to a quicker sale.
- High Buyer Demand: Realtor.com anticipates 22.8% more buyer views per listing compared to an average week. With more interested buyers, you’re more likely to get strong offers.
- Faster Sales: The data suggests homes sell 17% faster during this week. This translates to less time on the market and a smoother transaction.
- Stronger Prices: Listing prices are expected to be $34,000 higher than the beginning of 2024. This indicates a potential for a larger profit on your sale.
This news comes as mortgage rates continue to rise, putting some potential buyers on hold. However, the low inventory and high demand during this week could still create a favorable environment for sellers.
While the week of April 14th appears to be the peak, spring and early summer traditionally see a surge in buyer activity. If you missed this specific window, listing sooner rather than later could still be advantageous.
Market Shift: It’s important to note that the housing market is shifting. While seller-friendly conditions still exist, the days of bidding wars and homes flying off the shelves might be moderating. Realtor.com’s data shows that only 12% of sellers expect bidding wars this year, compared to 27% in 2023.
If you’ve been thinking about selling your home, data suggests that acting now could be a smart move. With low inventory, high buyer demand, and potentially faster sales, this spring season presents a prime opportunity to get top dollar for your property.
