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Just When Is The Best Time Of Year To Be On The Market? » The Louisville Real Estate Chick

Jacki Shafer | Phone: 502-643-7653
Address: 9911 Shelbyville Road, Suite 100, Louisville, KY 40222

Jacki's Real Estate Blog

Oct 2014

Just When Is The Best Time Of Year To Be On The Market?

The quick answer is (at least here in the Louisville, Kentucky marketplace) all seasons are just about the same. But there are definitely months that are better than others to be listed that will help ensure top achievable dollar.

Looking Back One Year, Here Are Some Quick Stats:
October 2013:
Homes SOLD: 1069
List To Sale Ratio: 96.52
Average Days On Market: 91
Average Sales Price: $180,308

November 2013:
Homes SOLD: 1025
List To Sale Ratio: 96.96
Average Days On Market: 100
Average Sales Price: $187,187

December 2013:
Homes SOLD: 944
List To Sale Ratio: 97.20
Average Days On Market: 99
Average Sales Price: $175,161

January 2014:
Homes SOLD: 695
List To Sale Ratio: 96.37
Average Days On Market: 119
Average Sales Price: $168,714

February 2014:
Homes SOLD: 740
List To Sale Ratio: 96.25
Average Days On Market: 112
Average Sales Price: $168,307

March 2014:
Homes SOLD: 923
List To Sale Ratio: 92.84
Average Days On Market: 118
Average Sales Price: $170,825

April 2014:
Homes SOLD: 1,058
List To Sale Ratio: 97.20
Average Days On Market: 101
Average Sales Price: $170,858

May 2014:
Homes SOLD: 1,279
List To Sale Ratio: 96.88
Average Days On Market: 91
Average Sales Price: $185,996

June 2014:
Homes SOLD: 1,379
List To Sale Ratio: 97.04
Average Days On Market: 84
Average Sales Price: $209,871

July 2014:
Homes SOLD: 1,340
List To Sale Ratio: 96.99
Average Days On Market: 86
Average Sales Price: $199,072

August 2014:
Homes SOLD: 1,363
List To Sale Ratio: 96.79
Average Days On Market: 80
Average Sales Price: $198,223

September 2014:
Homes SOLD: 1,062
List To Sale Ratio: 97.47
Average Days On Market: 83
Average Sales Price: $190,933

As you can see, the numbers of days on market do not vary much from month to month, with the lowest number being the month of August and, not surprisingly, the highest number being the month of January.

Also very similar from month to month is the average list-to-sale ratio. Month after month that average only fluctuated slightly, with most Sellers achieving just under or just over 97% of full list price. (The actual 12-month average was 96.78%.)

There was much more marked fluctuation in average sales price. From a low in February 2014 of $168,307 to a high in June 2014 of $209,871.

Also take another look at the numbers of homes that successfully SOLD each month. In January 2014, 695 homes were reported SOLD, while just five months later, in June 2014, 1,379 homes SOLD. The number of SOLD homes almost doubled as buyers flooded the marketplace.

Obviously, the homes that SOLD in January and February are homes that went on the market in the fall. And the homes that SOLD at the highest price averages (June, July and August) were listed in the Spring.

I think the statistics show clearly that hope springs eternal, and springtime is one of the best times to have your home on the market. But don’t wait until the daffodils are in bloom and the grass is Kentucky green. My advice to my clients is to get an early jump on spring and list in March or April. Get a little ahead of the competition so that you are the only one, or one of just a few in your neighborhood listed for sale.

I would love to hear your thoughts about this. If you have sold a home in recent years, what has been your own experience?

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