If you’re thinking about selling your home, the iron will be hot enough to strike fairly soon. According to a new report from real estate marketplace Zillow , homes sold in late spring fetch more money and sell faster.
The report found that homes listed near the end of the normal home selling season, or late-springtime, net an extra $1,500 on average when sold. Additionally, homes listed from late April to mid-May sell faster much faster—about three weeks faster. And in some areas, like Baltimore, Maryland, homes sell even faster. The data scientists at Zillow point out that this might be start of a trend, as this the second year in a row with similar results.
Why is late spring the sweet spot? The market’s inventory is sparse and home buyers get frustrated. People can’t find their dream home with the perfect price, so they start to get impatient. The report also suggests home sellers should list their home at the end of the work week or the beginning of the weekend, since it will get more eyes on it.