Home sellers realize the greatest seller premiums in May;
Analysis also looks at best months and days to sell a home
IRVINE, Calif., May 5, 2022 /PRNewswire/ — ATTOM, a leading curator of real estate data nationwide for land and property data, today released its annual analysis of the best days of the year to sell a home, which shows that based on home sales over the past 11 years, the months of May, June and July offer seller premiums of 10 percent or more above market value – with the top 15 best days to sell in the month of May alone.
According to the new analysis, sellers who want to wait for the weather to heat up, will receive the hottest seller premiums as well. This analysis of more than 46 million single family home and condo sales between 2011 and 2021 is evidence that Spring and Summer is when people are looking to buy; therefore, if you’re looking to sell your home soon, now is the time.
“April showers may bring May flowers, but May brings home sellers the best opportunities to watch their profits grow,” said Rick Sharga, executive Vice President of market intelligence at ATTOM. “Homeowners looking to maximize the price premium they can claim on their homes should sell their properties in May, June, and July when buying activity is at its peak.”
May is Here: Top 5 Days to Sell Infographic
Best Months to Sell
The analysis also took a more high-level look and showcased how seller premiums faired throughout the year and broke it out by month.
The months realizing the greatest seller premiums were as follows: May (12.6 percent); June (10.7 percent); July (10 percent); April (9.2 percent); March (8.9 percent); September (7.9 percent); February (7.9 percent); August (7.9 percent); December (6.3 percent); January (6.2 percent); November (6.1 percent); and October (5.2 percent).
|
2011 to 2021 Sales of Single-Family Homes and Condos |
||||
|
Month |
Number of Sales |
Median Sales Price |
Median AVM |
Seller Premium |
|
May |
4,175,915 |
$ 208,273 |
$ 185,000 |
12.6% |
|
June |
4,585,313 |
$ 217,703 |
$ 196,702 |
10.7% |
|
July |
4,503,788 |
$ 219,900 |
$ 200,000 |
10.0% |
|
April |
3,811,801 |
$ 202,000 |
$ 185,000 |
9.2% |
|
March |
3,669,316 |
$ 197,500 |
$ 181,283 |
8.9% |
|
September |
4,061,746 |
$ 215,000 |
$ 199,214 |
7.9% |
|
February |
2,782,131 |
$ 188,500 |
$ 174,666 |
7.9% |
|
August |
4,554,002 |
$ 215,700 |
$ 200,000 |
7.9% |
|
December |
3,754,043 |
$ 213,564 |
$ 201,000 |
6.3% |
|
January |
2,832,239 |
$ 187,000 |
$ 176,040 |
6.2% |
|
November |
3,551,796 |
$ 213,300 |
$ 201,000 |
6.1% |
|
October |
4,089,199 |
$ 210,375 |
$ 200,000 |
5.2% |
Methodology
For this analysis ATTOM looked at any calendar days in the last eleven years (2011 to 2021) with at least 10,000 single family home and condo sales. There were 362 days that matched this criteria, with the four exceptions being Jan. 1, July 4, Nov. 11 and Dec. 25. To calculate the premium or discount paid on a given day, ATTOM compared the median sales price for homes with a purchase closing on that day with the median automated valuation model (AVM) for those same homes at the time of sale.
About ATTOM
ATTOM provides premium property data to power products that improve transparency, innovation, efficiency and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 20TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions th
at include bulk file licenses, property data APIs, real estate market trends, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.
Media Contact:
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SOURCE ATTOM