Real estate agents, homebuyers and home sellers alike understand that the winter is one of the worst times to get into the market, but when are the best times?
Depending on the market, the ideal timeframe to list a home changes but generally stays between April and June, according to a new report from Zillow. Listing during the ‘ideal timeframe’ also could mean a faster than average selling time or a premium final sale price.
In Chicago, the ideal timeframe to list a home is between May 1 and 15. Selling a home during this time is reported to sell 22.5 days faster than the average home. On average, these homes sell in for about 1.2 percent more, which is about $2,400.
“The housing market today is heavily influenced by low inventory,” said Zillow chief economist Dr. Svenja Gudell.
“Faced with increasingly competitive markets, many buyers are forced to consider several homes and make multiple offers, elongating the home shopping experience. By listing homes further into the shopping season, sellers may attract buyers who are increasingly eager to purchase and may be more willing to pay a premium for the home.”