Optimal Timing for Selling: April's Week Shines Bright Even in a Dull Market

For homeowners looking to sell their property this year, spring is still the best time to sell — but you may want to lower your expectations.

That's according to a report from Realtor.com which finds that the week of April 14-20 is still the ideal period to sell a house, as buyer demand peaks during the third week of April and there's less competition from other sellers on the market. Home prices are also about 1.1% higher in late April, Realtor.com said, meaning a seller could generate the largest possible profit during that month.

But the housing market continues to be challenging for both buyers and sellers this year, as mortgage rates and asking prices continue to climb. The average interest rate on a 30-year home loan was 6.88% on Monday, up from 6.62% in January, according to Freddie Mac. Meanwhile, the national median asking price for a home was $384,500 in February, up 5.7% from a year ago.

For anyone selling their home this year, those figures mean that even during the market's prime selling window, they likely will not be getting everything they're asking for, Realtor.com said.

Home prices on the rise, making ownership more challenging

The increasing prices of homes are making it harder for the average American to afford a property, mainly due to the limited inventory available in the market. Homeowners are hesitant to sell their current homes as they would then have to buy a new property at the current higher mortgage rates. Additionally, some homeowners have seen a rise in their home equity, which has made them more reluctant to give up on that wealth growth.

However, with the arrival of spring, there is a new wave of homebuyers who take advantage of the longer days and warmer weather to explore open houses and make offers. Research conducted by real estate data provider ATTOM on approximately 51 million single-family and condo home sales between 2022 and 2023 revealed that homes tend to fetch the highest prices in April, May, and June. Among these months, sellers typically receive the highest returns in May, with prices averaging 13% above the median price in their area.

"This is the perfect opportunity for sellers," advised Alonna Davis, a realtor based in Maryland during a recent interview with CBS Baltimore. "With prices trending upward, now is a great time to consider selling. Ensure that your house is well-prepared by decluttering and removing any personal items you no longer need, so that your home can make a strong impression on potential buyers."