Are you on the fence about selling your Phoenix home? Are you waiting for the perfect moment to list your property? Well, the wait is over! Realtor.com says the best time to list your home in 2023 is quickly approaching, and you don't want to miss out on this opportunity.
The week of April 16-22 is expected to have the perfect balance of housing market conditions that favor home sellers more than any other week in the year. As a seasoned realtor in Phoenix, I can assure you that this is not a sales pitch. This is a fact based on data and research that supports the ideal time for home sellers to list their properties.
So, why is this week so special? Let's take a closer look at the market conditions and how they favor home sellers.
Inventory. Historically, the month of April sees a significant increase in new home listings, which means more competition for sellers. However, the week of April 16-22 sees a slight dip in new listings, which means less competition for sellers and a higher chance of standing out in the market.
Buyer demand. The spring typically brings out more home buyers, increasing demand for properties. The week of April 16-22 sees a surge in buyer demand, which means sellers can potentially receive multiple offers and sell their homes quickly.
Pricing. The week of April 16-22 historically sees higher median listing prices compared to other weeks in the year. This means that sellers can potentially list their homes for a higher price and still receive offers due to the high demand in the market.
But don't just take my word for it. Let's look at the statistics. In 2022, the median days on the market for homes listed during the week of April 16-22 was 38 days, compared to the median of 44 days for all homes listed during the year. Homes listed during this week had a 6% higher chance of selling above their asking price compared to all homes listed during the year.
What about the Phoenix market specifically? According to data from the Cromford Report, the Phoenix metropolitan market saw a 19% increase in home sales in March 2022 compared to March 2021. The median sales price for homes in Phoenix increased by 21% from March 2021 to March 2022.
So, what does all of this mean for you as a home seller in Phoenix? It means the market is hot, and April 16-22 is the perfect time to list your home. Don't wait for the perfect moment because it's almost here.
There’s no place like home in Phoenix. To buy or sell your home in Phoenix, call or text 480-270-9130.
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