You’re in the process of building a new home. You will be ready to move soon and need to sell your current home. When is the best time to list?
According to conventional wisdom, the best day of the week to list your home was Friday. However, according to a recent study by Terrace 24 Realty in Atlanta, Georgia that is no longer true. They have discovered the best day to list is Thursday.
Believe it or not, homes listed on Thursday sell faster and for higher prices. Terrace 24 focused its research on the Atlanta area and looked at sales in six metro Atlanta counties for one year. Here is what they discovered:
- Of the homes that sold without a price reduction, the homes that listed on Thursday sold for the fewest days on market at a median of 19 days. Homes listed on Sunday were on the market the longest.
- Again, of the homes that sold without a price reduction, the median percentage of the list price that the Thursday sellers got was 97.78 percent. That is higher than any other day of the week.
- Homes listed on Thursday were more likely to receive an offer of more than 100 percent, suggesting there was a bidding war.
Mike Minihan at Terrace 24 said “the real estate industry is ready for change. Agents need to think about what makes sense in today’s world.”