Greatest seller premiums realized in late summer and early spring months; Analysis based on home sales over the last nine years
IRVINE, Calif. — May 5, 2020 — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), today released a new analysis of the best days of the year to sell a home, which shows that 11 days of the year offer seller premiums of 10 percent or more – eight of which occur in the Summer months of June, while three occur in May.
According to the analysis, home sellers see the hottest premiums as the weather heats up – on average 9.6 percent above market value in June and 8.3 percent above in May. This analysis of more than 33 million single family home and condo sales over the past nine years shows that these two months are when people are the most motivated to buy; therefore if you’re considering selling your home soon, start now to increase your chances of a higher seller premium.
“Timing the housing market is far from an exact science. But home sellers who want to get the highest price should aim to complete their deals during the peak house-hunting season in late Spring or early Summer, when the most potential buyers are out looking,” said Todd Teta, chief product officer with ATTOM Data Solutions. “This year could be a striking exception if many potential home buyers stay home because of Coronavirus social distancing or worries about job security. But sales price data going back almost a decade shows that transactions completed in May, June and July typically net 7 percent to 10 percent over market value, which amounts to around $17,000 to $25,000 on the typical home nationwide. That’s a nice markup compared to other times of the year.”
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: June (9.6 percent); May (8.3 percent); July (7.3 percent); April (6.8 percent); February (6.7 percent); March (6.4 percent); August (6.0 percent); September (5.2 percent); January (4.8 percent); November (4.3 percent); October (3.8 percent); and December (3.7 percent).
For this analysis ATTOM Data Solutions looked at any calendar days in the last nine years (2011 to 2019) with at least 10,000 single family home and condo sales. There were 362 days (including leap year data) 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 Data Solutions
ATTOM Data Solutions 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 data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 9TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, marketing lists, match & append and introducing the first property data delivery solution, a cloud-based data platform that streamlines data management – Data-as-a-Service (DaaS).
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