Is There A Best Day Of The Week To Sell A Home?
Here's a tip for anybody who plans on selling a home in 2017.
You can pocket more money if you sell the home on the correct day of the week!
Best Day Of The Week To Sell A Home
First of all, how could anybody possibly know the best day of the week to sell a home?
Well, I try to measure everything (regarding the sale of houses in Tallahassee).
In order to produce the three graphs below, I have looked at the day of the week each contract was executed for all homes sold this year from January 1st through November 21st. Needless to say, this information is fresh and it is current.
First, please take a look at the three graphs that I created from the data, then we will present a likely conclusion.
The Number Of Contracts That Closed (By Day Of The Week They Were Ratified)
All three graphs were created by examining closed home sales in 2016 and tabulating them by the day of the week they were reported "off the market." So this means we are seeing contract dates and not closing dates as the way we are organizing the results.
In the graph above, Friday appears to be the day of the week (this year) that the largest number of homes went under contract, though for the most part we can say that weekdays were more popular than weekends.
Did you think a weekend date would have scored the highest? After all, that is when most inexperienced sellers working with out-dated home selling techniques conduct their open houses.
The fact is, most buyers are out on weekends and it takes a few days for those contracts to be fully executed. So if your home is shown to its eventual buyer on Sunday, an offer on Monday might require a few counters before it is an executed contract perhaps on Wednesday.
The Average Sales Price By Contract Day Of The Week
Apparently, expensive homes go under contract on Wednesday!
If you were seriously curious about the day of the week that homes go under contract, then the graph above likely surprised the heck out of you. It certainly did for me. Look at how Wednesday is just so different than the other six days of the week.
The Average Home Value By Contract Day Of The Week
The final graph shows home values received, sorted by the day of the week the contracts were ratified. Apparently, Thursdays are not good days for sellers.
This final graph seems to support that fact that sellers get more money when they ratify a contract on the weekend. So does this mean you should dicker back and forth all week and wait for Sunday for the buyer to cave?
SELL FAST TO GET TOP DOLLAR
With the rare exception for homes that must be marketed in a low-liquidity environment, homes that take longer than 4 to 14 days will likely yield less money for the home seller than a home sold within the proper time frame.
Give us a try, talk to us about the "why" of this, and we'll start by taking a look at the current inventory of homes like yours that are listed for sale in Tallahassee. Whether you want to sell your home now or sometime in the future, our meeting will help you prepare to get top dollar for your home.
The Best Day Of The Week To Get Top Dollar For Your Home
As far as lengthening the negotiation time with a buyer, the answer is "no!" When you get an offer, work to get a fully vested commitment from the buyer while they are still hot. You really don't want to cause an emotional response from them and have them change their mind simply due to the fact that you are making it hard to buy your home.
So if prolonging the negotiations is not the answer, how to we push to go to contract on Saturday or Sunday when the highest values are typically gained by home sellers?
The answer requires you to have an understanding of how we can use digital marketing to sell our homes immediately.
I encourage you to review what we do to sell a home on a predictable schedule (start by reading THIS), and then this all makes sense.
If we know we can sell a home right away, then the key to getting top dollar is to choose the appropriate day of the week to hit the market. This takes a bit of experience, but we help you select the day by first examining the liquidity in the market in order to identify the likely number of real buyer prospects for your home.
Want to know more? Simply DROP ME A NOTE and we'll schedule a time to help you determine the best day of the week to sell your home.