According to realtor.com, the best time to sell this year will be April 16-22. Sellers who list their homes during this window could boost their sale price by as much as $48K, if they come prepared with quality repairs, high-ROI updates, and strong marketing.
Smart sellers who were hoping to maximize the ROI from their home sales are already making preparations to list their homes April 16-22 to take advantage of the sweet spot in the following market conditions:
Higher home prices – Historically, homes listed during this week were priced 2.1% higher than the average week and 12.1% higher than at the start of the year. If 2023 follows that trend, the national median price could rise $8,400 higher than the average week and $48,000 more than the start of the year.
Strong buyer demand – Historically, homes listed during this week had 16.4% more views than the average week, but in 2022, listings had 32.5% more views than average, since buyer demand plummeted later in the year.
Less seller competition – Active inventory at the start of 2023 was 65.5% higher YoY but 43.2% lower than pre-pandemic levels, which means less seller competition.
Faster sales times – Thanks to above-average buyer demand, homes have historically sold 18.0% faster during this week, compared to the average week for the year. In 2022, homes spend about 32 days on the market, which is 13 fewer days than the year’s average and 37 fewer days than the typical days on market in 2019. While housing experts don’t expect the same level of buyer activity in 2023, they still expect faster sales during this week compared to the average week.
According to a recent survey, it took most sellers (80%) two weeks to six months to prepare their homes for sale. The sweet spot (32%) was between 1-3 months.
For most sellers (56%), preparing their homes for listing took longer than expected, while 23% said it took less, and 22% said it took roughly as long as they expected.
With that in mind, it makes sense to encourage homeowners to start preparing as early as possible, in case it takes longer than their best guess. Focus on repairs and updates that ensure their home looks well cared for and up-to-date with routine maintenance.
To prepare their home for listings, recent sellers took the following actions:
- Made repairs/updates (35%)
- Cleaned and decluttered their home (33%)
- Found an agent to help them (31%)
Even minor home repairs can make a big difference during a showing. Buyers who see leaky faucets and doors that don’t close (or are difficult to open) are more likely to wonder about larger potential issues with the home.
Here are the most common repairs made by Realtor.com survey respondents:
- Minor cosmetic updates—like updating light fixtures, faucets, drawer pulls, etc. (16%)
- Carpet/floor replacement or refinishing (14%)
- Landscaping—like adding mulch, a raised-bed garden, vegetation, etc. (13%)
- Full painting of exterior (12%)
- Touch-up paint (12%)
- Full painting of interior (12%)
- Replacing major appliances—including kitchen or laundry (11%)
- Replacing the roof (9%)
- Replacing major systems—like HVAC, hot water heater, heating (8%)
- Caulking (6%)
- Replacing grout (6%)