If you’re thinking about selling your home, Realtor.com said this is the week to do it.
Median home prices during the third week of April are about 1.1% higher than the typical week, and homes cost 10.4% more than they did at the beginning of the year, according to the real estate website’s data.
Those numbers translate to about $7,400 more in a seller’s pocket if they put their home on the market between April 14 and April 20.
The real estate site’s data showed homes that are listed for sale during this week are taken off the market 17% faster than the average week.
Realtor.com said listings on its site rack up 18.4% more views compared to the rest of the year. More competition on the market could also mean more bidding wars that could drive up prices.
To determine the best week for selling a home, Realtor.com said it looked at competition from other sellers, how long a home spent on the market, views per property, list prices, and the likelihood of price reductions. But it did not factor in mortgage rates.
Real estate experts have said 2024 should be a better year than 2023 for home buyers, with mortgage rates hovering around 7%. Some experts believe they could dip closer to 5.5% by the end of the year.
According to Zillow, home shoppers need to make more than $106,000 a year to comfortably afford an average home in the U.S.
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