Interest Rates Hover Near Historic All-Time Lows [INFOGRAPHIC]Some Highlights Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level.
New Data Shows May Is The Best Month To Sell Your Home
According to a newly released study by ATTOM Data Solutions, selling your home in the month of May nets you an average of 5.9% above estimated market value for your home.
For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved for each month of the year. Below is a breakdown by month:
ATTOM even went a step further and broke their results down by day.
Top 5 Days to Sell:
June 28th – 9.1% above market
February 15th – 9.0% above market
May 31st – 8.3% above market
May 29th – 8.2% above market
June 21st – 8.1% above market
It comes as no surprise to Team Nest Builder that May and June dominate as the top months to sell and that 4 of the top 5 days to sell fall in those two months. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, which often leads to bidding wars.
One caveat to mention though, is that when broken down by metro, ATTOM noticed that while warmer climates share in the overall trend, it turns out that they have different top months for sales. The best month to get the highest price in Miami, FL, for instance, was January, and Phoenix, AZ came in with November leading the charge.
Thinking of selling your home this year? List NOW! According to the National Association of Realtors, homes sold in an average of just 30 days last month! If you list now, you’ll increase your chances of selling in May or June, setting yourself up for getting the best price!
Let’s get together to discuss the market conditions in New Jersey and get you the most exposure to buyers who are ready and willing to buy! Call Team Nest Builder’s Lynn Garafola at 973-222-3777 today! Want to know in seconds what your home is worth today? Click HERE! Liked this article? Check out our blog for loads of helpful information on real estate, home improvement and community events!
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