It’s a big weekend in Seattle, and not just for moms. Home sellers have reason to celebrate, too.
According to Zillow, the Seattle-based real estate tech company, those looking to sell would be wise to list their home in the city between May 1 and 15 in order to minimize time on the market and maximize profits.
Houses listed in Seattle between those dates sell about 11.5 days faster than average, and for a $9,600 premium. Of 24 markets across the country looked at by Zillow, only San Francisco, between the dates of April 16-30, has a higher premium, at $15,300.
In Seattle’s Ballard neighborhood, I woke up to one neighbor who has bought into the belief that now is the time. The 1929 house across the street from me is listed for the first time in decades — at $675,000 — and with a “for sale” sign in the front yard, it’s sure to be a busy weekend for traffic on the street.
According to Zillow, many buyers start their home search in early spring but in today’s competitive market — especially in cities like Seattle with a shortage of inventory — chances are they won’t get the first home they make an offer on. By May, buyers are willing to pay a premium to close a deal.
Spring’s “magic window” also has an ideal day that is best for listing. In Seattle, it’s Thursday.
Now, the game for me and neighbors around the house for sale, is to guess the going price — in hot hot hot Seattle — for the three-bedroom house next door. $750,000? $800,000? Higher? And … will a developer swoop in and knock it over?
It’ll be a short wait to find out.