The home market may awaken from hibernation in early spring, but as the mercury rises in the warmer weeks ahead, home sellers can expect even better returns.
The latest report from Attom Data Solutions found home sales that close in May get the best bang for their buck, according to an analysis of more than 46 million home and condominium sales. The report looked at home and condo sales from 2011 to 2021.
“April showers may bring May flowers, but May brings home sellers the best opportunities to watch their profits grow,” Attom Executive Vice President of Market Intelligence Rick Sharga wrote in the report. “Homeowners looking to maximize the price premium they can claim on their homes should sell their properties in May, June and July when buying activity is at its peak.”
The sweetest of sweet spots may reside in mid-to-late May, the analysis shows. The Top 5 days to close on a home sale all landed between May 16 and May 27. The Top 15 days were all in May.
In recent years, the absolute best day to close on a home sale was May 23. Homes sold then went for an 18 percent premium in the years analyzed by Attom.
Overall, homes and condos that sell in May go for a nearly 13 percent premium, the highest of any month.
The following months are similarly strong for sellers. Homes that sold in June go for a 11 percent premium, while ones sold in July go for a 10 percent premium.
Attom’s analysis was based on comparing each time period’s median sale price to an automated valuation model that estimates the median value for the same group of homes.
On the other side of the coin, the best month for buyers in recent years has been October. Buyers in this soft spot have only had to pay a 5 percent premium on homes sold over the last decade, the data shows.
The winter months of November, December and January were the next-best months for buyers. Each come with a roughly 6 percent premium — half what that buyer would pay in May.
Without further ado, here’s the complete list.
Seller premiums on homes and condos, 2011 to 2021
- January — 6.2 percent
- February — 7.9 percent
- March — 8.9 percent
- April — 9.2 percent
- May — 12.6 percent
- June — 10.7 percent
- July — 10 percent
- August — 7.9 percent
- September — 7.9 percent
- October — 5.2 percent
- November — 6.1 percent
- December — 6.3 percent