Attention Seattle-area homeowners: the best time to sell a home is right around the corner. According to a recent report from Realtor.com, the best time to list a house for sale is during the week of April 16 – 22.
Spring is generally considered to be a good time for selling a home, but in 2023 it could be even better. Keep reading to find out why!
The Best Time to Sell a Home in Seattle
As a mortgage company, we often publish helpful articles for home buyers and mortgage shoppers. After all, they represent our primary audience. Today, however, we’ll be shifting gears to offer some timely and helpful insight for sellers.
Historically speaking, the housing market tends to follow a certain seasonal pattern. Some of these trends are obvious.
For example, real estate market activity tends to slow down during the winter months, when people are less inclined to go out house hunting. We also know that the market tends to pick up again in early spring, and this increased activity often carries into the summer months as well.
But a recent report from the research team at Realtor.com offered even more specifics. According to their data, the best time to sell a house in the Seattle area could be coming up over the next few weeks. Their researchers identified the week of April 16 – 22 as the potentially best time for selling a home.
To quote their March 2023 article:
“While it’s nearly impossible to time the real estate market, there is one week that is most likely to get home sellers the best possible outcome, according to Realtor.com. Nationally, homeowners who list the week of April 16-22, 2023 will hit the sweet spot in terms of the best combination of higher prices, fewer homes to compete against, faster sales time and strong buyer demand.”
Higher Prices and Faster Sales
In addition to singling out the week of April 16 as the best time to sell a house, the authors explained three specific benefits homeowners could enjoy. These include higher sale prices, stronger demand from buyers, and faster sales.
In terms of home prices, the report showed that homes listed during the week of April 16 – 22 end up selling for 2.1% more than the average for the rest of the year. When compared to the beginning of the year, the mid-April listings generated a 12% higher sales price.
Getting the most for your house is usually one of the two top priorities for sellers, along with achieving a quick sale. And if this report is any indication, listing your home in April could help you achieve both of these goals simultaneously.
Seattle-area homeowners might also be able to spend less time on the market, if they choose to list their properties during the month of April. Realtor.com’s data showed that homes listed during this timeframe tend to sell more quickly, due to stronger demand from buyers.
And let’s face it, selling a house can be a hassle. You have to work hard to prepare the home for buyers, and keep it in a state of “readiness” the entire time it’s on the market. Homeowners also have to leave every time buyers and their agents show up for a tour.
So the less time you spend on the market the better, and listing your home during a time of peak activity can help you shorten the timeframe.
More Tips for Sellers
How easy or hard it is to sell a home in the Seattle area largely depends on the current state of the real estate market. A couple of years ago, for example, homeowners were having a very easy time selling their houses due to a surge in buyer demand.
But during those times when the real estate market cools down, sellers typically have to go above and beyond to attract offers from buyers. Even in such times, there are certain things you can do to increase the chance of a sale.
First of all, you want to price the home realistically. This is arguably the most important strategy, when it comes to selling a home in the Seattle area. The best way to determine your asking price is by looking at recent and comparable home sales in the area. This will show you what the market will bear, and what buyers are willing to pay for properties like yours.
An effective pricing strategy actually works to everyone’s advantage. It prevents buyers from overpaying for a house, and it allows sellers to elicit more offers and achieve a faster sale. Setting the asking price too high can have the opposite effect, which means you could be on the market for a longer period of time.
A little home staging goes a long way, as well. You don’t necessarily have to hire a professional stager (though this can be a smart move in certain scenarios). Nor do you have to spend a lot of money. Sometimes all you need to do is de-clutter and rearrange a few furniture items. Decluttering can make a home seem larger and more spacious, while giving it a better flow.
With a little preparation and planning, you could minimize the amount of time you spend on the market while maximizing proceeds. And that’s the best-case scenario when selling a home in the Seattle area.