It’s Almost Time to List Your Home!
The perfect moment to list is just a few weeks away! If you’re thinking about putting your home on the market, there’s a special week quickly approaching that you won’t want to miss! How do we know when that is? Realtor.com® told us in their fourth annual Best Time to Sell Report. According to their data, the best week of 2022 to list your home is April 10-16. Sellers who list during this week will benefit from a Spring buying season trifecta of strong demand, high asking prices, and quick home sales.
According to Realtor.com® Chief Economist Danielle Hale, “Homeowners who are thinking about selling this Spring still have time to get ready, with the majority of recently surveyed sellers indicating that listing preparations took 2-12 weeks.” However, now is the time to start checking your checklist and doing your to-dos!
How Good Is It?
Realtor.com® number crunchers predict, “Sellers who list from April 10-16 could secure asking prices that are 10.9% higher than at the start of the year and 1.4% above the average annual listing price, based on 2021 trends.” Realtor.com® also predicts that the low inventory and high demand for new homes could drive asking prices up more than 10% relative to initial asking prices in January of this year, that’s around $39,000 more!
So far in 2022, we’ve seen a record-breaking January, followed by a crazy-fast February. Sellers who list their homes during “Listapalooza” can expect more offers and bidding wars, resulting in higher asking prices and a faster sale than if you list later this year.
How Do They Know?
It’s in the numbers! In 2021, April 10-16 was a record week for an already hot market. On average, homes listed in this particular six-day period received 29% more views on Realtor.com® than the average week and sold six days faster than the average for the year. During this same week, homes sold 27 days faster last year than they did in 2019 BC (Before COVID).
Mortgage rates have been rising and will continue to do so. That adds fuel to the fire for buyers hoping to find the right home and lock relatively affordable mortgage payments before it’s too late.
New inventory is on the horizon. Builders have been accelerating production in an effort to progress against the supply gap. As the bottleneck of supplies begins to open and the price of materials begins to stabilize, new homes will add more inventory. More inventory will moderate the demand and bring listing prices down.
Let the countdown begin! If you’re ready to take advantage of “Listapalooza,” contact the David Morris Group | (775) 828-3292, and we’ll help you get ready for market!
