The best time to sell a home in North Texas is apparently between now and the start of April.
North Texas home listings will have their most viable chance of selling from March 26 to April 1, according to a new report by Realtor.com.
This specific window of time for North Texas is anticipated to have “the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year,” the report said.
Realtor.com compiled its report by analyzing five years of listings data and measuring historic market conditions that typically favor home sellers. These conditions include above-average prices, above-average buyer demand, a fast market pace, and lower competition from other sellers.
Starting on March 26, market conditions in the DFW metroplex are predicted to yield 35.9% more views per property compared to the average week, with 27.7% fewer price reductions, data in the report showed. Based on historical data and current projections, an average listing in North Texas will spend eight fewer days on the market during the March 26 window.
The lack of competition within this time frame is one of the biggest benefits to home sellers, with the Dallas-Fort Worth-Arlington region seeing 23.3% fewer active listings than in a typical week, according to the report. In addition, the average listing price will be an average of 5% higher than at the start of the year.
“2022 was yet another remarkable year in housing, with prices reaching record high levels before the market cooled due to wide-spread unaffordability” and climbing mortgage rates, Realtor.com said in the report. “However, as 2022 concluded, mortgage rates fell slightly, enabling some buyers to re-engage with the housing market.”
When it comes to the best time to sell a home nationally, Realtor.com predicts that the window between April 16-22 will yield the most beneficial results for sellers. National homeowners that list their property for sale beginning April 16 can expect about 16% more views per property than the average week, with roughly 15% fewer price reductions before reaching a deal.
National home sellers are also projected to find a matching buyer nearly 11 days sooner thanks to the 9.3% fewer active listings than average, per the report. The national average price of a home listed between April 16-22 will be about 12% higher than at the start of the year.
“While we’ve identified April 16-22 as the best week to list for sellers, the housing market remains undersupplied, so a seller listing a well-priced, move-in-ready home is likely to find success,” the Realtor.com report said.
One of the reasons for this is that spring typically drives more real estate activity and buyer interest. Listing a home earlier in the spring “raises a seller’s odds of a successful sale,” the report added. However, “sellers will want to remember that it’s a process.”