MAY IS THE BEST MONTH TO SELL...MAYBE

“If you are considering listing this spring, now is the time.”  I have been suggesting this for the past few months, and I am happy to see the analysis below with statistics that back me up!

“May is the best bet for home sellers”, according to an analysis by ATTOM Data Solutions, which found that the average seller gains 5.9% more than market value—the highest of all months.

“June is profitable for sellers, as well, with an average 5.8% premium, with June 28, pointedly, reeling in 9.1%—the best day of the year. May 29 and May 31 are also high-returning, with an 8.2% premium and an 8.3% premium, respectively. Last year, May 1 through May 15 was found to be the ideal listing window. The difference now is that inventory is tighter—down 7.2% year-over-year—and, although homeowners are getting multiple offers, there is the burden of buying another home at the record prices they are today.”  In addition, even higher interest rates may be looming in the not too distant future.

For you, the homeowners, “timing is everything.”  The analysis suggests the listing advantage drops off sharply after June, with a 3.8% premium in July, 4.2% in August, and 3.2% in September.   For the North Fork, our busiest selling season peaking in August.  What we can learn from this study, is the sooner you put your home on the market in the spring, the more likely you will have a sale at a higher price.  It also suggests that your home should be priced right to sell, or you will miss the season.

If you’re ready to list your home – we are ready to assist you?  We will work harder than anyone to help you get your home ready and on the market in this prime listing time – call us at 631 765 5333, email me at Marie@BeninatiAssociates.com  or come to our office at the corner of Horton’s and Main Road in Southold. We’re ready, when you are!!!!

Source: “Homeowners: May Is the Best Month to Sell.” RISMedia Suzanne DeVida,  April 26, 2018