Zillow: Late May Best Time to Sell Home

(Image courtesy of Jonathan Cooper/pexels.com)

Zillow, Seattle, analyzed 2024 home sales, finding home sellers who listed their home for sale in the second half of May fared the best.

Listing during that period boosted home sale prices by 1.6%, or $5,600 on a typical home.

In general, returns were strongest between March 15 and July 31, with the May peak in the middle.

Zillow noted that search activity peaks before Memorial Day, as buyers get serious about house hunting before the summer and then start of a new school year. When there’s more buyers seriously competing, sellers can garner higher prices.

Zillow warned that this year may not follow that same pattern, however, given persistently low inventory and volatile rates.

“In the past few years, mortgage rate fluctuations upended the traditional spring home shopping season,” said Orphe Divounguy, a Senior Economist at Zillow. “Buyers who are on the edge of qualifying for a loan jump in and out of the market depending on what’s happening with rates. When rates fall, more buyers rush in, putting upward pressure on prices, which could happen at any time of year. ”  

However, the study also found that the best time to list can vary significantly by metro area. For example, it could be as early as the second half of March in areas such as San Diego and Austin, Texas, and as late as the second half of November in Phoenix, Ariz.