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August A Dominating Month For Home Sales

Aug 20, 2018 11:59:31 AM

Best Month to Sell a Home

May. According to a new ATTOM Data Solutions analysis of 14.7 million home sales from 2011 to 2017, which shows that homeowners selling in May realized the biggest premiums above estimated market value — 5.9 percent on average — of any month. However, the best month to sell varied from market to market, with warmer weather markets such as Miami (January) and Phoenix (November) bucking the national trend, according to the analysis.

Best Day of the Year to Sell a Home

June 28.  According to the analysis, the average seller premium is at 9.1 percent on this day.  With the best two months to sell a home being May and June, it makes sense that the best day overall to sell also resides within these months. Many sellers and buyers know the market picks up in spring and early summer, it's a predictable season for the most part in real estate. However, did you know that late summer is a harder season to predict?

Best Month to Sell in Summer

The months of August and September are harder to predict.  August edges out as the better month to sell your home betting out September by 4 spots, and July by 1! Why? August is sandwiched between two incredibly busy months. Both July and September start out with holiday weekends and July has long been known as the busiest air travel month of the year so it makes sense it slide out of the top 3.  August may be the month where some families go back to school, but many school districts around the country actually wait until after Labor Day to start the school year. If you think you missed the boat because you didn't get your house listed in the normal peak season, August is still a good time to list, and possibly even better! 

2011 to 2017 Sales of Single Family Homes and Condos
Month Number of Sales Median Sales Price Median AVM Seller Premium
May                     1,369,131 $194,900 $184,070 5.9%
June                     1,489,911 $202,000 $191,000 5.8%
August                     1,435,907 $200,000 $191,956 4.2%
July                     1,420,780 $200,000 $192,717 3.8%
February                         894,060 $172,500 $166,843 3.4%
April                     1,242,434 $186,000 $179,910 3.4%
September                     1,263,439 $195,000 $189,000 3.2%
March                     1,186,024 $180,000 $174,630 3.1%
November                     1,079,935 $191,900 $187,000 2.6%
January                         916,374 $172,269 $168,375 2.3%
October                     1,257,043 $192,000 $189,000 1.6%
December                     1,174,540 $193,000 $190,000 1.6%
         
All Months                   14,729,578 $190,000 $184,610 2.9%
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