That first day of May – which is just a week and a half away – could net you a higher selling price for your clients, whose home could also spend fewer days on market and possibly attract a bidding war.
“Year after year, May has blown away sales expectations,” said Rokham Fard, co-founder & CMO of Toronto’s new-wave brokerage, The Red Pin. “With the year’s sales so far, we're expecting the market to explode over the next few weeks. “If you're planning to sell your home and see optimal return on your investment, you have just under two weeks to get it to market.”
The online brokerage said homes over the last five years have typically sold for $18,650 more in May, compared to the average for the rest of the calendar year.
It also said that, since properties typically sell in 21 days during the spring season, listing at the start of May should give agents the best chances for a speedy sale. Plus, sellers can often choose from a larger pool of buyers in the springtime, many of whom begin their searches on Fridays in anticipation of weekend showings and open houses.
Have your say: do you consider the time of the year or day of the week when you list a property?
Looking at historical sales data, The Red Pin has determined Friday, May 1 to be the best day to sell a house.