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Tuesday, June 22, 2021
FairfaxReal EstateListing a home? Do it on a Thursday (or maybe Wednesday)

Listing a home? Do it on a Thursday (or maybe Wednesday)

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Homeowners in the Washington region who want their property to sell the quickest should list it on a Thursday, but those who want the most cash possible should list it on a Wednesday.

And whatever you do, avoid listing your home on a Sunday.

That’s all according to a new Zillow analysis, which shows that, nationally, Thursdays are probably the best day to put homes on the market.

“Homes listed on a Thursday typically go [pending-sale status] faster than any other day of the week, all else equal,” the analysts noted, speaking nationally. “Those that are put up for sale on a Sunday tend to sit on the market longest – eight days longer than Thursdays.

Saturday and Monday are only marginally better; homes listed on either of those days typically take seven days longer to sell than homes listed on Thursdays.

Real-world experience tends to confirm the data, said Jeff Knipe, president of Knipe Realty in Portland, Ore., who always recommends his clients list homes on a Wednesday or Thursday.

“Home-shoppers I work with tend to be most active on Thursday and Friday as they plan their weekend tour schedules,” he said. “With the market as competitive as it is today, this timing strategy gives sellers the best chance at seeing multiple offers on their home, from my experience.”

Think of selling a home as if you’re going fishing, Knipe said: “The goal is for the most possible fish to see your home as it enters the pond.”

Sellers may have caught on already – nationally, 21 percent of homes are listed on a Thursday, more than any other day of the week.

The savviest sellers are in Seattle and Portland, Ore., where more than a third of homes are listed on a Thursday, the highest shares in the country among large markets.

Only 13 percent of homes are listed on a weekend, which is less than any individual weekday.

There are some aberrations. Homes listed on the dreaded Sunday in Miami still managed the quickest sales in the current market, while in San Franciso, it was Friday.

But for the vast majority of the nation’s largest metros, Thursday was the key day, trailed by Wednesday.

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