One of the most important and complicated questions in real estate is, "What is the best day of the week to list a home for sale?" Several websites monitor the real estate market, such as the National Association of Realtors (NAR), which puts together information to give insights based on actual data. The answer? It depends.
You might wonder why the day of the week matters at all. Truthfully, it can be the most determining factor in how fast your home sells. A house listed on the wrong day will sit longer on the market and deter potential buyers. Several factors will help determine the best day to list a house, including location, market conditions, seller expectations, and more. Many agents believe listing during the week is the best choice, while others believe a listing on the weekends makes more sense. The Carin Whybrew Project team looks at the pros and cons of both.
Weekday listings
Listing on a weekday would be Monday, Tuesday, or Wednesday in the real estate market. One of the reasons agents prefer these days is because the earlier in the week the listing is submitted, the more time it has to spread. Broker tours, standard in many areas, allow fellow brokers to see the home and preview it with specific clients in mind. These tours are commonly done mid-week, so posting a listing at the beginning of the week means it will be available for those tours. The plus side here is that the home will get shown early, and there’s a better possibility of a good offer.
Additionally, this allows plenty of time to hold open houses on Saturday and Sunday following the listing post. Listing the home mid-week offers plenty of time for the agent to prepare for weekend open houses with emails, syndications, advertising, and preparations. Having higher levels of market exposure allows time for buyers to see the home, inspect it, and decide whether they want to make an offer.
Additionally, this allows plenty of time to hold open houses on Saturday and Sunday following the listing post. Listing the home mid-week offers plenty of time for the agent to prepare for weekend open houses with emails, syndications, advertising, and preparations. Having higher levels of market exposure allows time for buyers to see the home, inspect it, and decide whether they want to make an offer.
Weekend listings
Do real estate agents work weekends? Of course they do! Weekends are a popular time for open houses and showings, but posting a listing on the weekend is also something many agents do. Posting on the weekend is the flip side and is often considered because agents believe buyers have the most availability on the weekends. This means they'll have the chance to schedule a viewing when they see a home for sale. If you were to post a listing on a Friday, more people would likely see it because they are off work, and if they're in the market to buy a home, that is when they'll start looking.
Some studies have shown that homes are more likely to be toured by potential buyers and sell within 90 days if listed on Friday. This is likely because these homes will be on the top of a buyer’s mind going into the weekend. Additionally, the house seems "fresh" and they'll be more inclined to want to see it before other potential buyers get a chance. Some data shows that homes listed on Friday are sold more often for the asking price or higher.
So which is the best timeframe to list a home? During the week or the weekend? The answer lies in the middle.
Some studies have shown that homes are more likely to be toured by potential buyers and sell within 90 days if listed on Friday. This is likely because these homes will be on the top of a buyer’s mind going into the weekend. Additionally, the house seems "fresh" and they'll be more inclined to want to see it before other potential buyers get a chance. Some data shows that homes listed on Friday are sold more often for the asking price or higher.
So which is the best timeframe to list a home? During the week or the weekend? The answer lies in the middle.
Thursdays
Most agents agree that Thursday is the best day to list your home. A happy middle ground for those who debate the weekdays versus weekends, Thursday still allows for some broker tours and plenty of time for the weekenders to plan. The market is still very competitive, so giving sellers the best chance at receiving multiple offers means planning strategically.
Thursday listings show that sales are typically above the asking price for those homes, compared to homes listed on weekends, which tend to sell for less than the asking price. Other studies have shown that across the nation, 21% of homes are listed on Thursday, and in larger markets like Seattle and Portland, more than one-third of their homes are listed on Thursdays. It's easy to see why so many realtors follow this listing strategy.
Another thing to note is that the time a listing is posted can also have an impact. Getting your listing up as early in the morning as possible is critical because that's often when people start searching for properties. If yours is listed first, it will be at or near the top of the list when they begin. Real estate agents also tend to check for listings in the morning, so if you get in early enough, you'll get more traffic to your listing.
The timing is not as imperative to the sale as the day of the week you list your home, but they will help your home stand out in conjunction with one another. If you're looking to sell relatively quickly, list on a Thursday morning. Combine this strategy with listing during a busy season like the spring, and you'll have a winning combination.
If you’re getting ready to buy or sell a property in Michigan, contact an agent at the Carin Whybrew Project. They’re a team of highly experienced and dedicated agents who can guide you expertly through the process.
*Header photo courtesy of Shutterstock
Thursday listings show that sales are typically above the asking price for those homes, compared to homes listed on weekends, which tend to sell for less than the asking price. Other studies have shown that across the nation, 21% of homes are listed on Thursday, and in larger markets like Seattle and Portland, more than one-third of their homes are listed on Thursdays. It's easy to see why so many realtors follow this listing strategy.
Another thing to note is that the time a listing is posted can also have an impact. Getting your listing up as early in the morning as possible is critical because that's often when people start searching for properties. If yours is listed first, it will be at or near the top of the list when they begin. Real estate agents also tend to check for listings in the morning, so if you get in early enough, you'll get more traffic to your listing.
The timing is not as imperative to the sale as the day of the week you list your home, but they will help your home stand out in conjunction with one another. If you're looking to sell relatively quickly, list on a Thursday morning. Combine this strategy with listing during a busy season like the spring, and you'll have a winning combination.
If you’re getting ready to buy or sell a property in Michigan, contact an agent at the Carin Whybrew Project. They’re a team of highly experienced and dedicated agents who can guide you expertly through the process.
*Header photo courtesy of Shutterstock