Homes sell for $5,600 more when they are listed in late May
MWN-AI** Summary
A recent analysis by Zillow reveals that homes listed in the last two weeks of May consistently fetch higher prices, averaging $5,600 more than homes listed at other times of the year. Specifically, homes sold during this period commanded a premium of 1.6% over typical sale prices. This trend is attributed to heightened buyer activity as potential homeowners begin house-hunting before summer vacations and the upcoming school year.
The analysis underscores the significant influence of market timing, noting that the strongest sales periods can vary widely by metropolitan area. For instance, cities like San Diego and Austin see optimal listing times as early as late March, while in Phoenix, sellers may wait until late November for peak prices. The report emphasizes the importance of local market conditions, pointing out that experienced real estate agents can guide sellers in pinpointing the best listing times.
Market conditions, such as fluctuating mortgage rates, also impact buying behaviors. Higher rates can deter potential buyers, leading to fluctuations in housing demand. In recent years, the spring selling season has been unpredictable, but May has emerged as a stable peak period in 2024.
To maximize sale prices, sellers are encouraged to enhance their homes' appeal through strategic marketing, including high-quality online listings that showcase desirable features. Zillow’s findings indicate that listings with complete media packages can yield up to 2% more, translating into significant financial gains. Overall, effective timing, strategic marketing, and understanding local conditions are crucial for sellers aiming to capitalize on their home sales.
MWN-AI** Analysis
As homeowners contemplate selling their property, timing can significantly impact the sale price. Recent Zillow research indicates that homes listed in the latter half of May can fetch, on average, $5,600 more than those listed at other times of the year—a noteworthy 1.6% boost in a competitive market. This trend aligns with insights suggesting that the intersection of peak buyer interest occurs just before the summer vacation season, when prospective buyers ramp up their search.
By targeting this window, sellers can maximize their chances of receiving attractive offers, as increased buyer competition often leads to higher sale prices. It’s essential to approach the listing strategically—working with a knowledgeable real estate agent can help identify local market dynamics that might affect timing and pricing.
However, it's crucial to weigh this against market variability. The housing market has shown vulnerabilities, particularly with fluctuations in mortgage rates and persistent low inventory. While the trend in May was strong last year, the unpredictability of economic conditions can influence buyer behavior significantly. For example, if mortgage rates rise unexpectedly, potential buyers may hesitate, impacting demand.
To further enhance the sale price, homeowners should focus on maximizing their home’s visibility and appeal. This involves listing on the Multiple Listing Service (MLS) for broader exposure, highlighting desirable features such as outdoor amenities or energy-efficient upgrades, and investing in high-quality online listings with professional photography and virtual tours.
Ultimately, while late May presents a ripe opportunity to sell, sellers should remain agile, continuously assessing market conditions and ready to adapt their strategy as needed to achieve the best results.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
New Zillow research identifies the best time to sell a home in the nation's largest metropolitan areas
- A Zillow analysis of 2024 home sales finds that homes listed in the second two weeks of May sold for 1.6% more.
- The best time to list can be as early as the second half of March in San Diego and Austin , and as late as November in Phoenix .
- Homeowners can sell their home for even more by maximizing exposure, focusing on screen appeal and highlighting in-demand features.
SEATTLE , March 5, 2025 /PRNewswire/ -- Spring home sellers who listed their home for sale in the second half of May maximized their home's sale price last year. A new Zillow® analysis found that homes listed in the last two weeks of May sold for 1.6% more, a $5,600 boost on a typical U.S. home. 1
Search activity typically peaks before Memorial Day, as shoppers get serious about house hunting before their summer vacation and the new school year in the fall. By targeting late spring, sellers can get their home listed when the most shoppers are looking. When more buyers are competing for homes, sellers can command a higher price.
One big caveat: It's not certain that this year's spring home shopping season will follow last year's pattern. With persistently low inventory, volatile mortgage rates are creating their own seasonality in the housing market.
"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. "
Mortgage rates have been impacting affordability and sale prices since they began rising rapidly three years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. A year later , sellers commanded the highest prices in early June, as many buyers had sat out the prior months hoping that rates would go down. Last year marked a return to pre-pandemic seasonal norms, with the highest premiums commanded in May.
Zillow's research finds the best time to list can vary widely by metropolitan area. It was as early as the second half of March in San Diego and Austin , and as late as the second half of November in Phoenix . An experienced real estate agent can help sellers identify the right time to list based on inventory and demand in their local market.
Zillow also found a wide range in the sale price premiums associated with homes listed during their metro area's peak period. San Jose sellers who listed their home for sale in the second half of March were able to pocket 5.3% more than any other time of year — an additional $93,200 on a typical Silicon Valley home. Orlando homes, however, only sold for 0.9% more during its peak period in early May.
The reality is that most sellers don't have the luxury of being able to wait for the right week and the right month to sell. Timing aside, sellers can still take advantage of other seller strategies to reach the most potential buyers. They can net top dollar by maximizing exposure, focusing on screen appeal and highlighting in-demand features.
- More eyeballs = more money : Sellers should make sure their agent lists their home on the Multiple Listing Service (MLS) right away. This puts their listing in front of millions of home shoppers, maximizing exposure. Some agents will try to persuade sellers to market their home only to buyers using agents in their brokerage. But the data clearly shows that homes that are not on the MLS sell for a median of 1.5% less, a loss of nearly $5,000 for a typical seller.
- Flaunt the right features : Today's home buyers are willing to pay as much as 3.1% more for certain backyard luxuries. Zillow research finds that a typical U.S. home equipped with an outdoor TV can sell for $10,749 more than similar homes. If sellers also happen to have a pizza oven, outdoor shower or bluestone patio, they should highlight those features in their listing description to add thousands to their sale price.
- Invest in screen appeal : Zillow research finds that buyers pay more for listings that have a complete, immersive online media package. Zillow Showcase listings that have high-resolution images, 3D Home® virtual tours and interactive floor plans sell for 2% more than similar homes. That's a bonus of more than $9,000 on a typical home.
Metropolitan area | Best time to list | Price premium | Dollar boost on a typical home |
United States | Second half of May | 1.6 % | $5,600 |
New York, NY | First half of May | 1.4 % | $9,600 |
Los Angeles, CA | First half of April | 3.9 % | $39,300 |
Chicago, IL | Second half of May | 3.0 % | $10,000 |
Dallas, TX | First half of April | 1.9 % | $7,000 |
Houston, TX | Second half of April | 1.1 % | $3,300 |
Washington, DC | Second half of April | 2.4 % | $14,600 |
Philadelphia, PA | First half of June | 2.2 % | $8,100 |
Miami, FL | Second half of July | 2.0 % | $11,500 |
Atlanta, GA | First half of June | 1.2 % | $4,700 |
Boston, MA | Second half of May | 2.9 % | $20,800 |
Phoenix, AZ | Second half of November | 1.4 % | $6,400 |
San Francisco, CA | Second half of April | 3.2 % | $38,600 |
Riverside, CA | Second half of June | 1.5 % | $8,600 |
Detroit, MI | Second half of May | 3.2 % | $8,000 |
Seattle, WA | Second half of March | 3.1 % | $24,000 |
Minneapolis, MN | Second half of May | 2.9 % | $11,100 |
San Diego, CA | Second half of March | 2.0 % | $20,100 |
Tampa, FL | First half of October | 1.8 % | $6,900 |
Denver, CO | First half of May | 2.6 % | $15,500 |
Baltimore, MD | Second half of June | 2.0 % | $7,900 |
St. Louis, MO | Second half of May | 3.3 % | $8,300 |
Orlando, FL | First half of May | 0.9 % | $3,700 |
Charlotte, NC | First half of May | 1.5 % | $5,700 |
San Antonio, TX | First half of May | 1.3 % | $3,500 |
Portland, OR | First half of June | 2.0 % | $10,900 |
Sacramento, CA | First half of May | 1.7 % | $9,900 |
Pittsburgh, PA | Second half of May | 2.6 % | $5,500 |
Cincinnati, OH | Second half of May | 2.3 % | $6,900 |
Austin, TX | Second half of March | 2.3 % | $10,400 |
Las Vegas, NV | First half of May | 1.6 % | $7,100 |
Kansas City, MO | First half of May | 3.4 % | $10,400 |
Columbus, OH | First half of May | 3.4 % | $11,100 |
Indianapolis, IN | First half of June | 2.0 % | $5,400 |
Cleveland, OH | Second half of June | 3.7 % | $8,600 |
San Jose, CA | Second half of March | 5.3 % | $93,200 |
About Zillow Group
Zillow Group, Inc. ( Nasdaq : Z and ZG ) is reimagining real estate to make home a reality for more and more people. As the most visited real estate website in the United States , Zillow and its affiliates help people find and get the home they want by connecting them with digital solutions, dedicated partners and agents, and easier buying, selling, financing and renting experiences.
Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans?, Trulia®, Out East®, StreetEasy®, HotPads®, ShowingTime+?, Spruce® and Follow Up Boss®.
All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 ( www.nmlsconsumeraccess.org ). © 2023 MFTB Holdco, Inc., a Zillow affiliate.
1 This analysis included 1.6 million transactions closed in 2024 for which complete data was available, including a listing history that could be matched to the transaction and a reliable Zestimate history. For complete methodology, please contact press@zillow.com .
SOURCE Zillow Group, Inc.
FAQ**
How does the timing of home listings, particularly in late May, impact the average sale price according to Zillow Group Inc. ZG, and what factors contribute to this price increase?
What specific buyer behaviors and market trends during the spring season does Zillow Group Inc. ZG identify as driving the increased sale prices for homes listed late in May?
In regions where homes sell for higher premiums when listed in late May, how does Zillow Group Inc. ZG suggest homeowners can further maximize their selling strategies?
Given the historical variability in mortgage rates, how does Zillow Group Inc. ZG anticipate this year's spring home shopping season may differ from previous years in terms of price premiums for late May listings?
**MWN-AI FAQ is based on asking OpenAI questions about Zillow Group Inc. (NASDAQ: ZG).
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