Taking Advantage of Home Selling’s Magic WindowPosted 03/24/2015
If you're thinking about purchasing a new home, the best time to list your existing house for sale is now. That’s according to the experts at Zillow, who, after analyzing supply, demand and sellers’ outcomes, say that mid-March to mid-April is the magic window.
What’s so magical about the magic window, you ask? Well, according to Zillow’s research, it's all about time and money. “(The magic window is) when you’ll sell your home faster and for more money,” says Zillow author Catherine Sherman in a recentblog. “The data shows homes sold from mid-March to mid-April sell around 15 percent faster and for 2 percent more than the average listing. That's a national premium worth more than $4,000. And, and in hot markets like San Francisco, that could mean an extra $22,000 in your pocket.”
Researchers conclude the magic window is based on several factors, including:
- Bypassing the surge of for-sale listings that typically occurs in late February/early March.
- Listing during a time when serious buyers usually start building contacts with real estate agents and lenders (early April).
- Capitalizing on the time of year when final sale prices are at their highest and listings’ time on the market are at their lowest (late March).
In general, Zillow says, home-sales patterns mimic weather patterns. Markets with warmer climates, like Phoenix and Tucson, are more likely to utilize the magic window now, while places with colder climates, typically wait until mid- to late-April.
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