Homes Listed for Sale in Early June Sell for More, Research Says

(3/14/24)  If you’re planning to list your home for sale in the next few months, then you’ll be interested in some new research released by Zillow last week.

A Zillow analysis of 2023 home sales found that homes listed in the first two weeks of June sold for 2.3 percent more – for a whopping $7,700 boost on a typical U.S. home.

That means that spring home sellers looking to maximize their sale price might want to wait a bit before listing.

"The old logic was that sellers could earn a premium by listing in late spring when their home would be on the top of the pile of listings when search activity was at its peak,” said Skylar Olsen, Zillow’s chief economist. “Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality."

In the years leading up to the Covid pandemic, the best time to list had always been early May, according to Zillow. The shift to June suggests that mortgage rates are influencing demand – on top of the seasonality that normally brings buyers into the market in the spring.

Zillow’s research does indicate, however, that the best time to list a home can vary widely by its location. In 2023, the best time to sell a home in San Francisco was as early as the second half of February, while in New York, it was as late as the first half of July.

The company also found a wide range in the sales price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, for example, homes sold for 5.5 percent more. In San Antonio, however, homes sold for 1.9 percent more during that same time period.

"Most sellers don't have the luxury of timing the market,” Olsen said. “The best time to list is when it makes the most sense for their lives. Regardless of the month, sellers who list their home for sale this spring can expect plenty of interest if their home is marketed and priced right.”