The Best Day to List a Home

Are you preparing to sell your home? Selling a property is certainly an exciting experience. But if you want to increase your chance of profit, it's important to list your home on the best day. For many sellers, the best day to list their home is when they've finally decided that it's time to put it on the market. However, many sellers aren't aware that the day they list their property has an impact on a successful selling experience.

The housing market can certainly be unpredictable, but it's something that sellers should pay attention to when preparing to list their property. Ultimately, the activity that occurs in the market will have an impact on deciding the right time to sell, how much to sell your property for, and even how long your home will potentially sit on the market.

To help you better understand the housing market, let's take a look at three types of markets that affect the selling process:

The buyer's market refers to a change in the market conditions that favor buyers over sellers. Ultimately, anything that leads to an increase in the urge for the seller to sell their property and decreases the urgency for buyers to make a purchase will create a buyer's market. In a buyer's market, you'll notice that there are more properties for sale than there are actual buyers. In this scenario, buyers will have more leverage and an opportunity to negotiate the price.

A seller's market refers to a change in the market conditions that favor sellers over buyers. A seller's market occurs when there is a shortage of properties for sale and more buyers looking for a home. This gives seller's the leverage as the competition for a home is high for buyers. In a seller's market, bidding wars are common, often leading to many buyers making an offer for more than the selling price in order to get the seller's attention.

Another important type of market to know about is a balanced market. This type of market is in between a buyer's and seller's market and is characterized by having three to six months of home inventory listed at any given time, depending on what area you live in. It's important to note that real estate typically runs in cycles. With that said, a balanced market is usually seen as a transitional period between a seller's and buyer's market.

Selling your home is an exciting time. But if you're eager to get your property off of your hands, choosing the right day to sell is key. For sellers, choosing the right day can feel uncertain. In fact, there are various factors that need to be considered when deciding.

For instance, sellers will need to know if they are in a buyer's, seller's, or balanced market. This will make a difference in how quickly or slowly your property will sell. Other important factors include what features your home has and whether your property is in a desirable location.

Still, research has shown that there are certain days of the week that are better to list your property, regardless of other factors.

According to past trends, the best day to list your home for sale is on Thursday while the worst day to list it is on Sunday. Undoubtedly, the housing market has been unpredictable in recent years. As such, buyers have been looking to gauge the best time to purchase a property while sellers have been looking for the best time to put their home on the market for a quick sale and maximized profits.

With that said, there's no better time than now for sellers to list their homes. More specifically, sellers should see the best results by putting their homes on the market before September, according to Zillow.

Even more, sellers should list their homes on Thursday due to the fact that properties tend to sell faster and for more money compared to any other day. What's even more interesting is that the difference in the market is quite noticeable. In fact, trends show that homes that are listed for sale on Thursday spent around 7 days on the market.

Zillow's research further found that properties listed for sale on a Thursday are 1.5% more likely to sell above the listing price. Homes that were listed on a Saturday or Sunday were 1.3% less likely to sell above the list price.

Now that you've learned the best day to sell your property, let's take a look at what else sellers can do to ensure a quick and profitable home sale.

Obtaining a pre-listing inspection is one of the most valuable documents that a seller can have when looking to quickly sell their property. A pre-listing inspection consists of an inspector coming to your property to identify any problems in its structural condition, both inside and outside.

An inspector will focus on certain areas of the property, such as the plumbing, insulation, electrical, and anything else that can't easily be seen with the naked eye.

The reason a pre-listing inspection is important is that it provides potential buyers will full transparency. Buyers won't be reluctant to invest in a property when they feel like they know everything they need to know about it. For sellers, having a pre-listing inspection already done is one of the best ways to prevent your home from sitting on the market.

Another important thing to consider is setting the right price for your property. While it's normal to want to make the most money for your home, you want to ensure that your list price isn't too high and that it aligns with the market. A home that's priced too high will likely be looked over by buyers because they know they can invest in a different home with the same features and at the right price.

 
At the same time, you don't want to price your property too low, hoping for a quick sale. While reducing the price of your home may certainly get the attention of buyers, you may not attract the right attention. In fact, many buyers may assume that something is wrong with the property and will ultimately ignore it.

If you're having difficulties setting an appropriate price for your property, it's best to talk with an experienced local real estate agent who can leverage insights into local market details. An experienced agent will be able to look at similar homes in the area to help you come up with an ideal price that not only aligns with current market trends but will enable you to maximize your earnings.

Before listing your home for sale, it's important that you get it prepared. Some sellers overlook the importance of staging their home, but it's a key component of making your property attractive, highlighting the key features, and attracting the attention of potential buyers.

You may want to consider hiring a professional home stager who can get your property ready for listing. But if hiring someone isn't within budget, it's possible to stage your property yourself.

With that said, be sure to give some attention to curb appeal as this is the first thing that potential buyers will see. Sellers can powerwash the driveway, remove dirt from the siding, clean the roof, and consider planting flowers to spruce up the yard.

In the kitchen be sure to stow away kitchen appliances and storage containers to reduce clutter and allow potential buyers to see the kitchen's main features. In the living room, be sure to pare down furniture, especially if it's bulky. This not only makes the home look bigger but provides more of an open concept living area.

Lastly, be sure to personalize your space. This means taking down family pictures, personal collections, artwork, and anything else that is reflective of you and your family. Essentially, you want potential buyers to be able to see themselves within your home. Having your personal belongings within the space can become an easy distraction for buyers.

Marketing plays a crucial role in the success of your listing. It's important that sellers invest in the right marketing technique for a quicker sale. With that said, sellers should invest in high-quality photography for their property, leverage social media, and use multiple listings. Sellers should also incorporate traditional advertising methods, such as print advertising to maximize visibility.

 

Derek Buse is a top real estate agent in Washington. Selling a property can certainly be a lot of work, but we're here to make the process easier for you. With our extensive real estate experience and in-house marketing, we can help you sell your home while increasing your profits. Are you interested in Bellingham houses for sale or in a similar area? Connect today to see how we can help.