You probably put a lot of work into putting a house on the market. Compiling a home listing itself can be a lot of work, but in the end, it's worth it. Ideally, you want buyers to be excited about the home for sale and you want it to sell quickly (and for the most money you can get).
What else can you do to help your listing even more in today's market? Many realtors swear that the time that you post your house listing can make a big difference in how fast it sells – and can help it fetch a higher price.
When is the best time of the year to list a house?
Before we talk about specific days, let's talk about more general times of the year when listing your house can benefit the sale.
Generally, the real estate market has pretty clearly defined seasons. Spring and summer are not only the hot months in terms of the weather, but for real estate as well. There are a number of reasons why sellers prefer summer, but the statistics say it all: more houses are listed and sold in these months and they generally sell for more money to boot. If you are looking to get the most out of your sale, it may just be worth it to wait until these months.
Besides the spring-summer season, the fall market around September and October is the second-best time of the year to list a home. Though less so than the hectic summer months, there is still a lot of activity on the market in this season.
There are also some times of year you may want to avoid. Generally, the winter is a less desirable time for home sales, especially in Canada where the cold weather can make moving difficult. Holidays can also cause problems. Around Christmas time, for example, buyers tend to be more concerned with shopping for gifts and attending get-togethers than looking for a new home. In fact, December and January are known as the months for homebuyers who are looking to get a deal because houses sell for less in these months.
Has COVID destroyed the traditional real estate seasons?
In 2020, right as the market was set to heat up for its hottest season, pandemic-related restrictions caused the real estate market to essentially press pause. As a result, the busiest time in that year was actually the fall market once regulations had adapted to new conditions and pent-up demand was able to hit the market. This made the seasonal nature of the housing market difficult to predict for a while. So far, 2021 has been more on track with a large peak of activity in the first half of the year and a smaller but still significant fall market. Signs point to a return to the traditional seasonal cycle in years to come.
What is the best day of the week to list?
It might seem strange at first, but the day of the week your home is listed can make a difference in its sale. This doesn't mean that you will be unable to sell your house if you accidentally list it on a wrong day, but paying attention to the most popular days can benefit you a lot. There are some differing opinions though on which day of the week is truly best, and which are the worst.
Days to avoid listing
Generally, Monday is considered to be the worst day of the week to list. People are busy getting back into the work week and still have five days before the weekend when most people can go to home showings. In addition, a listing on Monday has a whole week ahead of brand new listings competing for buyers' attention.
Most agents will avoid listing on the weekend. Most people are busy on these days with showings or other plans. It is also far from the next weekend, so you will mostly be seen by the weekday crowd who attends fewer showings.
The best days of the week to list to attract potential buyers
The best days of the week are generally considered to be in the mid to late week. The idea is that most homebuyers tend to be free on the weekends to attend home showings. The more serious buyers you can get to view your house, the better the odds for multiple offers and the more options you will have when it comes time to accept one.
A house listing posted on Wednesday or Thursday allows a few days for interested buyers to find it and book a viewing. A listing posted on Friday may be too late for buyers to book a showing, or they may be already booked for the weekend. However, the reverse can happen as well with other buyers checking on Friday to find some last-minute viewings for the weekend.
Studies have been conducted on the best days to list and have actually found that houses listed on Thursday sell faster. Even better is that homes listed on Thursday sold for more on average than any other day.
Real estate agents prefer Thursdays over any other day
Overall, Thursday listings seem to be ideal and the most popular with real estate professionals, with Wednesday and Friday being the second-best days.
What time should I list my home?
The time you post your listing can give you a competitive advantage as well. A lot of people will be checking for listings in the morning so it’s best to get your listing up as early as possible. When people check for recently listed properties in the morning, yours will come up near the top.
Plus, agents will be checking in the morning for listings to send to their clients, so if you get in early, you are more likely to get more potential buyers paying attention to your listing.
How important is timing?
How important timing is to your home sale will depend on your property and your local market conditions. If you are looking to sell quickly, then listing close to the weekend will allow you to close your sale as soon as possible. Also if you are looking to get the most for your property, listing in a busy season and attracting the most possible offers will give you the best odds of getting more money.
In addition, in a competitive housing market that favours the buyer, these tips can help you stand out among the rest of the crowd. However, in a seller's market like most of Canada has been seeing for a few years now, you will have success in your listing regardless of the time of the listing.
Overall timing isn't everything, but it can make a difference in your home sale.
As an experienced real estate professional with a deep understanding of the market dynamics, I can provide valuable insights into the concepts discussed in the article. My extensive involvement in the real estate industry has allowed me to observe and analyze various trends, and my knowledge is grounded in both practical experience and a thorough understanding of market research.
Seasonal Trends in Real Estate: The article rightly emphasizes the significance of seasons in the real estate market. Spring and summer are traditionally considered prime selling seasons due to favorable weather conditions, increased daylight hours, and a generally more positive atmosphere. The higher number of listings and increased buyer activity during these months contribute to potentially higher selling prices.
Conversely, winter, especially in colder climates like Canada, tends to be less favorable for home sales. The article correctly points out that the cold weather can make moving challenging, and holiday seasons, such as Christmas, may distract potential buyers.
The impact of the COVID-19 pandemic in 2020 disrupted these traditional seasonal patterns, leading to an unexpected surge in the fall market once restrictions were adjusted. However, signs in 2021 suggest a return to a more predictable seasonal cycle.
The Best Day of the Week to List a House: The article sheds light on the significance of choosing the right day of the week to list a property. While Mondays are generally considered less optimal due to people getting back into the workweek and competing with new listings throughout the week, weekends are also less favored because of busy schedules.
The mid to late week, specifically Thursday, is highlighted as the ideal time to list a property. Studies mentioned in the article support the claim that houses listed on Thursday tend to sell faster and for a higher average price.
The Importance of Listing Time: The timing of when a listing is posted during the day is discussed as a factor that can impact the visibility of a property. Posting a listing early in the morning is recommended as potential buyers, as well as real estate agents, are more likely to check for new listings during that time. This can increase the chances of attracting attention and securing showings.
Overall Timing Considerations: The article appropriately concludes by emphasizing that timing isn't the sole determining factor in a home sale but can certainly influence the outcome. It rightly notes that in a competitive buyer's market, these timing strategies become more crucial to stand out, while in a seller's market, success is more likely regardless of the listing time.
In summary, the article provides a comprehensive overview of the importance of timing in real estate, covering seasonal considerations, the best day of the week to list, and the optimal time to post a listing. Following these insights can potentially enhance the chances of a faster sale and a more favorable selling price.
