When’s the best day of the week to list a home?
Seasoned real estate agents know there are several factors that can impact the success of a listing, whether it’s the decor, staging or photography. But there’s one small element that the agent easily has control over, which is the day of the week they list the home.
Real estate website Redfin studied sales data from 2015 and determined that Thursday was the best day of the week to list a home for sale. Study results revealed that homes listed for sale on Thursday had the highest likelihood of selling above list price – 22 percent, compared to 20.6 percent for homes listed on Friday and just 17.5 percent for homes listed on Sunday. Similarly, Thursday listings spent fewer days on the market – an average of 53 days compared to Monday listings that were on the market for an average of 59 days. Homes listed on Thursdays also sold for more – US$2,352 compared to homes listed on Sundays.
There are a few reasons why Thursdays have become the best day to sell. On Mondays and Tuesdays, home shoppers are usually easing back into their work weeks so they aren’t paying as much attention to new listings. But later in the week, shoppers are prepping for a weekend of viewings and open houses, making this the best time to capture their attention and decide which houses to see. Presumably, properties listed late Friday afternoon or evening might not make it into weekend schedules. Then, over the weekend, buyers and agents are out visiting properties instead of sitting at their computers researching new listings.
The Redfin report showed that only 18 percent of sellers listed homes on Thursdays. That means there’s much more opportunity to obtain favourable outcomes for your clients with this simple scheduling tactic. Whatever you do, avoid listing on a Sunday or Monday. Homes listed on these days consistently spent longer on the market, sell for less and have a lower likelihood of selling above the list price.