The best time to sell your home in San Diego
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Late April is the best time to sell a house in San Diego, according to a new report from Zillow.
Why it matters: Sellers need all the cash they can get to make their next move more palatable.
State of play: Homes listed during the last two weeks of April fetched a 3.1% premium — good for a $29,600 boost for sellers, on the median home — over homes sold during other times of the year.
The other side: Buyers looking to avoid peak pricing, and who have the flexibility to time their purchase, should wait until the end of the year.
- Homes listed in early December in San Diego sell for a 6.9% discount, good for $66,400 in savings on the median home.
The big picture: Unlike in San Diego, sellers nationwide made the biggest profits by listing their homes in the first two weeks of June, but that's a shift from May counting as the best time to sell a home.
- That change, per Zillow, was driven by cooling interest rates in June that lowered the cost of a mortgage and attracted more buyers into the market.
What they're saying: "The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak," Zillow's Treh Manhertz writes in a new report. "Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality."
The bottom line: The best time to sell can vary widely from market to market, Zillow's data shows.
- In San Francisco, sellers collect the biggest premium in February; in New York and Philadelphia, prices peak in July.