Mark your calendar: Certain times of the year can offer seller premiums of 10 percent or more, and a majority of those days are during summer months.
ATTOM Data Solutions analyzed more than 28 million single-family home and condo sales over the past eight years to find the best time of year to sell. They found that the summer tends to be hot in real estate for more reasons than just the weather.
“Since summer is a time for vacations and outings, it’s no surprise that it’s also a time when people are most likely to move,” says Todd Teta, chief product officer with ATTOM Data Solutions. “Families start their home search when they know their kids will be out of school and when the weather is ideal for home viewing and moving, giving home sellers an upper hand in price negotiations.”
The months that offer the greatest seller premiums, in general, according to the ATTOM Data Solutions study, are June (a 9.2 percent premium); May (7.4 percent); and July (7.3 percent).
The specific dates to watch are May 24, June 20, June 21, May 31, and June 28, according to the study. For example, on June 28, the average seller premium was 10.8 percent at resale. ATTOM says seller premiums were calculated as the percentage of the median sales price that is above the estimated market value at the time of sale.
This article was contributed by National Association of Realtors.