Homeowners aiming to maximize their sale price should begin preparations, as the best time of year to sell a home in the Philadelphia region is quickly approaching, writes Michaelle Bond for The Philadelphia Inquirer.
Zillow’s 2024 home sales analysis shows that early June yields the highest sale prices in the Philadelphia metro area.
Homes listed in the first half of June sold for 2.2 percent more than those listed at any other time of year. In the region, that means a median price increase of $8,100 over the rest of the year.
Nationwide, the best period to sell a home was the second half of May, with homes going for 1.6 percent more.
The best time to put a home on the market depends on numerous factors, including housing supply, local buyer demand and fluctuating mortgage rates.
“Buyers who are on the edge of qualifying for a loan jump in and out of the market depending on what’s happening with rates,” said Orphe Divounguy, a senior economist at Zillow. “When rates fall, more buyers rush in, putting upward pressure on prices, which could happen at any time of year.”
For a deeper dive into local market trends, expert insights, and what sellers should consider before listing, read the full article in The Philadelphia Inquirer.
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