Moving is stressful, especially when you are selling a house of your own. But holding off for just one week could make a big difference.
The week of March 26, 2023, is the best time to sell in Dallas-Fort Worth, according to Realtor.com (via The Dallas Morning News). The realtor company studied data from the past five years to report homes sold during that week sell after eight fewer days on the market than any other week during the year.
Percentile levels for each week were calculated along each metric and were then averaged together across metrics to determine the “best time to list score” for each week.
The website measured listing data and found that homes sold during the last week of March typically see 35.9% more views and 27.7% fewer price reductions than during the average week. Historically, by the end of June, prices hit their peak.
“Sellers should consider that peak prices later in the season also come with greater competition from other sellers for a similar-sized pool of buyers,” Realtors.com said.
Across the nation, the best time to sell is the third week of April, but North Texas’ market is ahead of schedule. The reason for spring selling — summer break is the easiest time to pack up and move for most families.
But the supply does not meet the demand. 2021 saw the highest rates of home construction in the last decade, but 2022 saw a drastic slowdown. Buyer demand fell due to less affordability in the market. But this demand is likely to help sellers who hope to cash in on their home equity.
The study also found that sellers who are also buyers may be able to be more flexible in closing both a sale and a purchase this year.
According to The Dallas Morning News, local real estate agents expect this spring to see similar listing numbers, even with much higher mortgage rates compared to a year ago. In fact, homes are seeing multiple offers and sold over list price this year.