Work with independent mortgage brokers

In a study conducted by United Wholesale Mortgage, 90% of real estate agents who worked with an independent mortgage broker would recommend one to their buyers in the future.

Gathering of Eagles

The Gathering of Eagles conference is the Trusted Source, offering brokers, managers and leaders valuable insider industry information on how to run a profitable business.

RealTrending: eXp’s Glenn Sanford

Glenn Sanford, CEO of eXp World holdings, addresses his critics about his agent referral program, where he is taking the company next and growth limiters for the brokerage.

Newsletter

The RealTrends monthly newsletter is known as the trusted industry source for information on trends, strategies, analysis, people and news shaping the real estate industry of tomorrow.

AgentMarketingReal EstateResearch

Use this data to get your seller off the fence

The week of April 18 to 24 is the best week to list a home this year, according to a new analysis.

  • Sellers who list their homes next week could have 5% less competition, sell eight days faster and get 11% more online page views than the average week.
  • Listing during the week of April 18 to 24 could result in a 2% higher sales price – $7,500 more on a $370,000 home compared to the average week.
  • With higher mortgage rates and the number of listings on the market expected to increase, sellers could see their advantages wane later in the year. 

In today’s market where homes are selling above asking and often sight unseen, it may not seem like there is actually a “best” time to list a house for sale. However, earlier in the year is generally better, and national market trends tell us that sellers who list their home between April 18 and 24 should see more buyer interest, less competition from other sellers, a faster sale and a higher listing price, according to a new realtor.com report.

What makes the week of April 18 stand out?

The short answer is it’s the optimal time for high prices, robust buyer demand, low competition from other sellers and a quick home sale.

  • Higher price: Homes listed next week typically sell for 2% higher than the average week, and 10.4% higher than at the start of the year. If 2021 follows the typical seasonal trend, a median-priced home listed next week could sell for $7,500 more than the average week, and $36,000 more than at the start of the year. 
  • Strong buyer demand: Homes listed this week typically get 11% more views on realtor.com than the average week throughout the year.
  • Less competition: Homeowners who listed during this week in 2018 and 2019 saw 5% fewer sellers on the market compared to average weeks throughout the year.
  • Faster sale: Historically, homes listed during this week sold 14.1% faster than the average week. In 2021 terms, this would translate to selling in just 59 days, eight days faster than homes listed in other weeks, on average.

In addition to the historical data, homeowners wondering whether now is the right time to sell may want to consider some potential housing market shifts on the horizon that could negatively impact their current advantages. Rising mortgage rates, which are expected to reach 3.4% by the end of 2021, could dampen buyer demand later in the homebuying season. Additionally, improved vaccination rates will also likely bring more sellers back to the market, adding more inventory to the mix and increasing competition for sellers.

To determine the optimum time to list, realtor.com looked at competition from other sellers, median listing prices, time it takes to sell, likelihood of price reductions and interest from buyers measured by views per property on realtor.com. Because of COVID’s disruption to the market in 2020, the analysis also included 2018-2019 listing data.

The best week to list varies from market to market

When taking local market trends into account in the 50 largest U.S. metro areas, the best week to list varies by locale throughout March, April and May. But for the biggest group of markets, the best week to list a home is the week of April 18. 

The markets where it’s best to list the week of April 18 include Buffalo and Rochester, New York; Cleveland and Columbus, Ohio; Detroit and Grand Rapids, Mich.; Indianapolis, Ind.; Nashville, Tenn.; New Orleans, Louisiana; Providence, R.I.; Riverside, Calif.; San Francisco and Sacramento, Calif. and St. Louis, Missouri. 

Most Popular Articles

Whisper listings sometimes make sense

I have a secret. And, secrets are meant to be protected. This is the exact reason why whisper listings, also known as pocket listings, are the most coveted of all real estate secrets. The real estate industry has been under the National Association of Realtors Clear Cooperation Policy act for over a year. The act […]

May 07, 2021 By