Homeowners who sell in May tend to realize the biggest premiums on their home sales
Although the best month in which to sell your home is officially May, the best day of the year to sell is June 28. According to new data from ATTOM Data, homeowners who sell in May net an average of a 5.9 percent premium on market value. Those who sell on June 28, however, snag a 9.1 percent premium. ATTOM Data analysts evaluated information from 14.7 million home sales taking place between 2011 and 2017 to draw these conclusions.
Not surprisingly, more regional analysis indicates that different areas of the country have different “best months” for selling a property. In Florida and Texas, for example, many areas’ best months are far earlier in the year. For example, in Miami, Florida, the best month of the year to sell is January, for a seller premium of 2.5 percent. San Antonio’s best month is also January, with a seller premium of 17.2 percent. Bremerton-Silverdale, Washington, however, does not see its best month until July (3.5 percent premium), and Syracuse, New York, homeowners net the best returns in August (11 percent premium).
Daren Blomquist, senior vice president at ATTOM Data Solutions, observed, “May is a bit of the early bird getting the worm because many home sellers wait until June or July to list their homes.” That May premium could be due, in part, to sellers facing slightly less competition by listing in May, he said. Blomquist also noted that to sell a home in May, the listing would have to go up no later than April.
On a national level, the top five months in which to sell a home are:
- May, with a 5.9 percent seller premium
- June, with a 5.8 percent seller premium
- August, with a 4.2 percent seller premium
- July, with a 3.8 percent seller premium
- February, with a 3.4 percent seller premium.