By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.
Any good real estate agent knows that listing and selling your home can be a science. From finding just the right price point to attract offers to staging and curb appeal, there are many details that when strung together meticulously can add up to a smooth transaction in which your house sells at the best price point in the shortest period of time.
With all of that in mind, a good question on sellers’ minds often is, “What is the right day of the week to list?”
It’s a valid question because many years of experience shows us time and again that a listing tends to grab the majority of attention on the day it debuts. The Wall Street Journal recently ran a story citing Redfin research that found that Friday apparently is the best day to list your home. How did they come up with that? They found that listing a home on a Friday versus a Sunday, which they found was the worst day to debut, could mean a difference of nearly $5,000 on a $500,000 house.
They also found that homes listed on Fridays sold in an average 81 days – the fastest of any other day of the week in their sample.
Why is that?
It almost seems counter-intuitive to say that debuting on a Sunday is the worst day. After all, Sunday is the day when most buyers are out viewing homes and visiting open houses.
But in reality, Sunday listings tend to sit around a few days before buyers start setting up their home tours for the following weekend. (Because by the time Sunday comes around, they’ve already put their viewing schedules together.)
Fridays are better because anyone planning Sunday tours is likely either starting or finishing up their list of homes late Friday or Saturday. And any new listings are going to pop up on their radar right away.
What’s the key take away from this info?
Well, first off always remember that every market is different and fluid.
For buyers in competitive markets, it’s a good reminder to not overlook those Sunday listings. Have your agent run through the MLS before you start your tour to see if something new came on the market. It may be worth tacking on a tour on Monday if you can squeeze it in.
For sellers, while the notion of the best day to list is interesting, it’s important to remember that there are many other factors that affect your sale price and time it takes to close. It’s more important to price right and have your home in the best shape possible when you hit the MLS. No theory on which day works better is going to help you if you don’t have these two things right.
Once you have those down, it doesn’t hurt to ask your agent for insight on which day has worked the best in your current market.
Contact Team Patereau for their insight. Rick and Susan will help you with which day to list, as well as every step of your real estate transaction.