It may be a buyers’ market in Philly, but there are a few encouraging data points for sellers in the region. In a report released last week, real estate firm Zillow found that local sellers are likely to make a quicker close – at a premium – if they list their homes on a Friday in May.
On average, researchers found that Philadelphia homes listed between May 1 and May 15 sold 9.75 days faster than local properties listed during other weeks. They also commanded approximately $2,000 more. In particular, research says homes listed on Fridays have more views during the first week of their listing than homes introduced on other days.
Researchers analyzed sales data for homes listed between 2008 and 2016 to determine the best days of the week and times of the year to list homes at the top 25 metro markets. Nationally, homes listed during the first half of May sell 9 days sooner at a $1,500 premium. Outside of Philly, homes sold on Saturdays perform better.
Philadelphia properties are also affected by climate, the report said. While in markets unaffected by lousy weather (see: Texas, California and Florida) have more monthly flexibility for listings, those of us in metro areas where all four seasons present themselves are limited to lucrative listings in spring.
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