March is now the advent of the spring home-buying season. As the supply of available properties continues to lag demand in most areas of the country, competition between buyers is growing. This situation is changing many of the longstanding rules of real estate. Where the spring buying season once started in early May, more buyers are beginning their search earlier in places like Miami and Washington, D.C. due to the tight housing markets. Despite the extended buying season, a home must be listed for sale at the right time and price to generate multiple offers and a quick sale.
Even in today’s tight market, homebuyers are becoming more knowledgeable and do not want to overpay. As a result, selling a home in today’s dynamic market still requires a well-planned and orchestrated listing strategy. For most sellers, early May is still the optimum time to sell a home. Listing in early May results in selling a home 18 days faster for approximately 1 percent more than other times of the year in 18 of the country’s 25 largest housing markets. Buyers are more eager as their earlier offers fell through and they may be willing to pay a bit more. To increase the odds of selling your home even faster, list it for sale on a Thursday. Because many potential buyers tour homes over the weekend, they begin their search preparations the previous Thursday and Friday. Thursday listings are more likely to sell faster at above list price than those listed over the weekend.