When is the best time to sell a home in Austin Texas?

The best times of the year to sell a home are still yet to come, according to an analysis by real estate data firm ATTOM.

The company crunched home sales data over 11 years and found the market heats up alongside the weather, with the best days to sell a home for more than 10% of market value clustered in May, June and July.

The prime time for home sales comes as the nation’s housing market starts to shift from its pandemic-era frenzy but also as interest rates continue to rise.

What is the best day of the year to sell a home?

The singular best day to sell a home is May 23, when homes sell for an average of 18.3% above the estimated market value.

“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.”

What is the average profit margin on selling a home?

Meanwhile, the profit margins on single-family home sales across the United States dipped to 47.2% — the first quarterly decline since late 2019 and the largest in a decade. That’s down from 51.6% during the fourth quarter of 2021. 

Although the profit margin is decreasing, it is still high by historic standards, and still far above the 37.5% profit margin recorded in the first quarter of 2021 and even above the 29.4% profit margin reported in the first quarter of 2019.

Courtesy of the Austin Business Journal. See the full article here.