Apr 4, 2024 - News
Why Boston homeowners looking to sell should wait for May
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Greater Boston homes listed in late May could make $23,600 more, per a new Zillow report.
Why it matters: Sellers need all the cash they can get to make their next move more palatable.
The big picture: May has long been the best month to list your house in the U.S. But in 2023, sellers made the highest profits in the first two weeks of June, a Zillow study shows.
- This shift is largely due to mortgage rates, which cooled slightly in June and brought some buyers off the sidelines.
- May was still the top month around Boston, with listings in early June making $16,900 more than average and late June bringing in $20,800 more.
The other side: Buyers, if you want to avoid peak pricing, consider shopping outside of the spring and summer months.
What's next: Interest rate cuts aren't expected anytime soon, but if those rates do fall in 2024, we may have a second spring market.