May is the Month!
May offers some of the best days of the year to sell a home at a premium, assuming history repeats itself. Home sales over the past 10 years have shown that spring and summer months tend to offer the highest premiums when selling. Home sellers, on average, see an 8.8% premium above market value during these months, according to a new study from ATTOM Data Solutions, a real estate research firm. Ten of the best days to sell are in the month of May, the analysis shows.
ATTOM Data Solutions’ researchers analyzed 40.1 million home sales from 2011 to 2020. Home sellers, on average, saw a 13.4% above estimated market value when selling in May—the highest of any other month.
“As home sellers continue to enjoy an extended sellers’ market, moving full steam ahead from the momentum gained over the last 10 years, the month of May is particularly poised to garner the greatest sale premiums,” said Todd Teta, chief product officer with ATTOM Data Solutions. “Among the top five days fetching the biggest home seller premiums, May 23 is the best day of the year to sell a home, producing a premium of 19.3 percent above market value.”
Overall, the months faring the best for home sales—offering the largest home seller premiums historically—are May (13.4%), June (11.7%), July (11.2%), April (9.2%); August (8.9%), and March (8.6%). On the other hand, the months offering the lowest home seller premiums: December (5.8%) and October (5.8%), according to the analysis.