"Whenever you see a successful business, someone once made a courageous decision" Peter Drucker
Happy Friday peeps! September is coming to a close and although summer has officially ended, we are still grinding away for our clients!!
One topic that continues to come up is the impact of when to list a property. Although the single family market tends to see peak periods based on school seasons for families with children, most will agree that you can sell your property anytime of the year. An interesting article that digs deeper into the listing day debate focuses on what day of the week actually means when listing your home.
Research shows that when listing a home on a Wednesday, there is a slight advantage in sale price over homes listed on a Sunday. Now before you stress out about the listing day debate, for the sale of a $500,000 home, listing on a Wednesday could make you about $2,600 more when compared to a Sunday.
So how about speed of sale when you just want to close?
This study found that Thursday was the best day to list and showed a five day advantage when compared to Sunday. This is why minngo, when possible, will recommend to list on Wednesdays and currently pick Thursdays for a faster close. Listing day of the week also has an impact in regard to days on market. Since we are typically asked at the first open house on Saturday how many days the property has been on the market, we can answer with a strong 2 instead of 5 or 6. Additionally, for the second weekend of open houses we are still under 10 days.
Why the difference in days?
Although there isn't a definitive reason for more money and faster close when listing during the week, it kind of makes sense for those of us who plan our weekends toward the end of the work week. During the hump day happy hour, you are slowly inching toward the weekend where people begin to map out their house-hunting strategies.
All of this seem kinda crazy?
This is why my team and I spend the time analyzing information to separate from the pack to help you reach your goals. Besides, who else has the snazzy orange and blue signs like minngo :)