If you want to sell your home for more money, list it in the middle of the week, especially in Boston.
A recent Redfin report found homes listed midweek in Boston sell for an average of $7,100 more than those listed on a weekend. They also sell nearly two days faster.
The price differences do vary by metro area, however. Homes listed midweek in Minneapolis, for example, are only getting an average of $400 more. Boston’s number was the biggest of the 25 metro areas included in Redfin’s analysis of homes sold above list price from July 2020 through February 2021. Beantown was followed by Newark, N.J., where midweek listings sold for $4,500 more, Seattle at $4,400 more, Oakland at $3,500 and Denver at $3,200.
The increase in price varies by metro area. In Boston, midweek listings are selling for an average of $7,100 more, but in Minneapolis, they are only getting an average of $400 more per listing.
Minneapolis and Kansas City, Mo., only saw small premiums with midweek listings, which brought in just $400 more than those listed on other days. Midweek-listed homes in Indianapolis, Houston and Atlanta all have a $500 premium, according to the report.
“Because the market is so competitive right now, most homes will receive plenty of attention regardless of when they’re listed. But sellers can still maximize their potential profit simply by listing in the middle of the week, which gives potential buyers a few days to see the home, talk to their agent and set up a showing for Saturday or Sunday,” said Redfin Chief Economist Daryl Fairweather in the report.
While weekend listings have been more common, the report found putting a home on the market on a weekend means possibly losing potential buyers already scheduled to look at homes that weekend. And listing on a Sunday or Monday means potential buyers could lose interest before the next weekend, as well.
Not only are homes listed midweek fetching more money, they are also selling quicker. Homes listed midweek are selling 1.6 days faster, according to the report. Listing midweek is most advantageous in St. Louis, where a home listed midweek is selling 3.5 days faster than one listed on a weekend, followed by Newark (2.9 days), Grand Rapids (2.9 days), Frederick, Md., (2.8 days) and Boston (2.8 days).
When you list isn’t the only way to get the most out of your listing. Pricing it right for the current market is also important. Redfin found home listings get the most views the day they go on the market (64%) than the day after a price drop.
“I’m advising sellers not to overcompensate for the hot market by overpricing their home,” said William Soto, a Redfin real estate agent in Orange County, Calif. “Select a price that will attract serious buyers to the property, not one that will scare people away.”