Homes listed for sale midweek sell for an average of $1,700 more than homes listed on the weekend, according to a report from Redfin (www.redfin.com), the technology-powered real estate brokerage. This is based on a Redfin analysis of how much homes sold above their list price from July 2020 through February 2021, both nationwide and by metro.
“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.
Putting a home on the market on a Friday or Saturday means potential buyers may have already filled their weekend with other home tours. That’s especially important during the pandemic, when it’s more likely that buyers and their agents are required to book individual appointments to tour homes. And listing on a Sunday or Monday means buyers may lose interest before the following weekend.
Homes that hit the market midweek in Boston sell for an average of $7,100 more than homes listed on the weekend, by far the biggest premium of the 25 metro areas included in Redfin’s analysis. It’s followed by Newark, where homes listed midweek sell for $4,500 more, Seattle ($4,400), Oakland ($3,500) and Denver ($3,200).
In Washington, D.C., the gain was among the highest, at $2,500. No data was gathered for Baltimore.
Minneapolis and Kansas City have the smallest midweek premium, with homes listed Tuesday-Thursday fetching just $400 more than those listed the other days of the week. Next come Indianapolis, Houston and Atlanta, which each have a $500 midweek premium.
Additionally, homes listed for sale midweek sell for an average of 1.6 days faster than homes listed on the weekend. In terms of speed, the advantage of listing midweek is biggest in St. Louis, where the typical home listed midweek sells 3.5 days faster than one listed on the weekend. It’s followed by Newark (2.9 days), Grand Rapids (2.9), Frederick, Maryland (2.8) and Boston (2.8).
The advantage is smallest in Sacramento (0.7 days), Chicago (0.8), Phoenix (0.8), Dallas (0.9) and Portland, OR (1).