There are many factors to consider when selling your home, but the most important one is timing. A good house can sell in any season but timing it right could mean a quicker sale and even better returns.
Data management firm ATTOM Data Solutions conducted a study of almost 15 million home sales from 2011 up to 2017. According to their research, 17 out of 20 of the most profitable days to sell are in May and June.
In the St. Paul Metro areas particularly, sellers in June found their premium averaging at around 3%. There is even a day in June that sees seller premiums going up to around 9% more than the estimated market value. Homes sold in this month also spend less time on the market.
Those who sell in May can expect big increases on their home’s estimated market value. Average seller returns can go up to almost 6%, higher than in any other month. Houses sold during the early part of May typically get purchased faster and for a higher value.
Other ideal times to sell in Minnesota
In Minnesota in general, studies by ATTOM Data Solutions show that the best time to sell is from May to July. However, the ideal time to sell really depends on where you live and the type of residents in the area. Some see an increase in returns and selling time in months like April, August or January. Those living in the warmer parts of Minnesota experience better selling in February and March.
If you’re intent on selling your home sometime early in the year, it’s best to get a head start. The Minnesota real estate spring season usually begins in February with the peak months occurring in March and April. During this time, expect to compete with over thousands of home showings. Getting your home sale-ready as early as January can give you that extra edge over the competition. Buyers will see your home first and this can leave a lasting impression.
More ways to help sell your home
In addition to getting the timing right, there are many other ways to give your home an advantage while it’s on the market such as:
- Getting it professionally staged
- Improving curb appeal
- Pricing it competitively
- Doing showings or open houses
- Having the home put on various listings
- Marketing correctly
The easiest and most effective way to do all of that is by hiring a real estate agent to help you out. An experienced realtor has extensive knowledge on local market trends and can tell you when it’s best to sell. They also have all the tools and connections to advertise your home and get it noticed by the right people.
Interested in selling a home in Minnesota’s St. Paul and Minneapolis metro area? Just get in touch with me, Adam Fonda—your local community expert and ranked in the top 3% of Realtors across America. Call 612.308.5008 or send an email to adam(dotted)fonda(at)lakesmn(dotted)com.