May, June and July sales net sellers a premium, Attom Data Solutions says.
ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), on Tuesday released a new analysis of the best days of the year to sell a home, which shows that 11 days of the year offer seller premiums of 10% or more – eight of which occur in the summer month of June, while three occur in May.
According to the analysis, home sellers see the hottest premiums as the weather heats up – on average 9.6% above market value in June and 8.3% above in May. This analysis of more than 33 million single family home and condo sales over the past nine years shows that these two months are when people are the most motivated to buy.
“Timing the housing market is far from an exact science. But home sellers who want to get the highest price should aim to complete their deals during the peak house-hunting season in late spring or early summer, when the most potential buyers are out looking,” said Todd Teta, chief product officer with ATTOM Data Solutions. “This year could be a striking exception if many potential home buyers stay home because of coronavirus social distancing or worries about job security. But sales price data going back almost a decade shows that transactions completed in May, June and July typically net 7% to 10% over market value, which amounts to around $17,000 to $25,000 on the typical home nationwide. That’s a nice markup compared to other times of the year.”
Best Months to Sell
The analysis also took a more high-level look and showcased how seller premiums fared throughout the year and broke it out by month. The months realizing the greatest seller premiums were as follows: June (9.6%); May (8.3%); July (7.3%); April (6.8%); February (6.7%); March (6.4%); August (6.0%); September (5.2%); January (4.8%); November (4.3%); October (3.8%); and December (3.7%).
|2011 to 2019 Sales of Single Family Homes and Condos|
|Month||Number of Sales||Median Sales Price||Median AVM||Seller Premium|
|June||3,394,781||$ 205,000||$ 187,000||9.6%|
|May||3,170,772||$ 196,100||$ 181,000||8.3%|
|July||3,286,989||$ 205,000||$ 191,000||7.3%|
|April||2,817,857||$ 189,000||$ 177,000||6.8%|
|February||2,008,216||$ 175,000||$ 164,000||6.7%|
|March||2,650,208||$ 182,000||$ 171,000||6.4%|
|August||3,324,502||$ 200,000||$ 188,612||6.0%|
|September||2,874,394||$ 195,000||$ 185,368||5.2%|
|January||2,080,763||$ 175,000||$ 167,000||4.8%|
|November||2,501,494||$ 193,000||$ 185,000||4.3%|
|October||2,921,175||$ 193,000||$ 186,000||3.8%|
|December||2,643,150||$ 193,000||$ 186,086||3.7%|