Monday, April 21, 2014
The LA Times investigates:
It's common knowledge verging on holy writ in real estate: Spring is the absolute best time of the year to sell a house. Right? But is there hard statistical evidence that listing your house in April, May or June — flowers blooming, birds chirping, lawns greened up after a tough winter — actually nets you a higher price or a shorter time from listing to sale?
[...] A study of 1.1 million home listings between 2011 and 2013 in 19 major markets by the national realty brokerage firm Redfin found that, contrary to popular impressions, houses put on the market in winter — defined as Dec. 21 through March 21 — had a 9-percentage-point greater probability of selling within 180 days and at a smaller discount to the initial list price than houses put on the market during the spring months (March 22 to June 21). The advantage jumped to 10 percentage points over summer listings (June 22 to Sept. 20). Winter listers ultimately sold for prices slightly higher than homes listed during any other season.