Phoenix-area homes sell faster and have higher premiums in start of May

PHOENIX — If you are a homeowner in the Phoenix area who is thinking of putting their home on the market soon, you might want to wait a couple more weeks.

Zillow found that homes in the Phoenix area that are listed between May 1 and 15 sell 10.5 days faster than an average listing and for a $2,600 premium.

The real estate company also found that homes listed on a Saturday have the best success rate.

The trends in the Phoenix area did better than national trends. Homes listed during that time period nationally sold about two weeks faster than an average listing and for a premium of only $2,400.

However, both Phoenix area and national trends had one thing in common: Marking Saturday as the best day to list a home for sale.

The report found that late-spring home listers are more successful simply because buyers are more willing to settle on a home during that period.

“The start to the 2018 spring selling season has been characterized by an acute shortage of homes for sale, meaning a large number of home shoppers will likely be unable to find the right home to buy in the early weeks of spring,” the report said.

“As they linger later into the season, these buyers may end up spending more than they intended as they get wrapped up in competition and/or rush to conclude a deal before the summer months. This means late-spring listers can capture these perhaps frustrated buyers more quickly, and earn an additional premium.”

However, other home sellers on the West Coast have more success at different times. For example, San Francisco sellers listing in late April can earn a $15,300 premium.

But in areas like Pittsburgh, sellers can make the most money and sell in the shortage amount of time if they list their homes for sale between March 16 and 31.

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