If you’re thinking about selling your home in the weeks or months ahead you may be wondering, when is the best month to list a home in Columbus and Central Ohio, and what is the best day of the week to list to help ensure the home sells for the most money possible.
Because the market is so competitive right now, most homes will receive plenty of attention regardless of when they’re listed. But sellers can still maximize their potential profit simply by listing in the middle of the week, which gives potential buyers a few extra days to see the home, talk to their agent, and set up a showing.
A recent study found that homes listed on a Tuesday, Wednesday, or Thursday tend to sell for $1,700 more than homes listed on the weekend—this figure varies from market to market and in some locations this can amount thousands of dollars more. These middle-of-the-week listed homes also sell nearly two days faster, according to new research which tracked home sales data from July 2020 to February 2021 nationwide.
The study found that homes listed in midweek here in Columbus, Ohio tend to sell for an average of $2,000 more than homes listed on the weekend. Boston had the largest premium of the 25 metro areas tracked in the analysis, with an average of $7,100.. Other markets noticing a high premium included Newark, N.J. (homes listed midweek tended to sell for $4,500 more); Seattle ($4,400); Oakland, Calif. ($3,500); and Denver ($3,200).
Homes listed in the middle of the week also sell faster than homes listed on the weekend
Additionally, homes listed for sale midweek sell for an average of 1.6 days faster than homes listed on the weekend.
In terms of speed, the advantage of listing midweek in Columbus was 1.4 days faster that one listed on the weekend. The advantage was biggest in St. Louis, where the typical home listed midweek sells 3.5 days faster than one listed on the weekend. It’s followed by Newark (2.9 days), Grand Rapids (2.9), Frederick, MD (2.8) and Boston (2.8).
Price your home right the first time to maximize online views
Listings of homes for sale get 64% more views the day they first hit the market than the day after a price drop. For example, if a home listed for sale gets 100 views its first day on the market, it would get 61 views the day after a price drop.
Sellers should not overprice their homes, even if most homes in their area are selling above their asking price. If the home doesn’t go under contract within a reasonable time and the seller has to drop the price, fewer potential buyers who are searching within the home’s new price range will see it. In the current market, multiple offers are more common than not on well maintained homes that have been properly prepared for market and effectively advertised by a skilled listing agent. The best strategy is to list the home at market value, and to allow buyers to bid up the value.
Regardless, to have the most selling success, price the home appropriately from the start—which includes not underpricing the home. If the home is priced too high, fewer buyers will see the home, but if it’s priced too low, the seller may be inundated with so many showing requests a serious buyer could give up before laying eyes on it. The goal is to maximize your home’s exposure to the market to get as many serious buyers as possible to tour your home, thus encouraging multiple offers, and driving up the sales price.