Study: Homes Listed on Thursday Sell Faster and for More Money
March 29, 2019
Thursday is the best day of the week to list a house, according to a new study released by the brokerage Redfin. Homes listed on Thursday statistically fetch more money at sale and spend less time on the market than homes first listed on other days of the week.
Homes listed on Thursday sold, on average, for $3,015 more than homes listed on Monday (the worst day of the week to list, the study showed). Redfin analyzed more than 2 million home sales across 148 metro areas that were listed and sold in 2018 to pinpoint the best day of the week to list.
Homes listed on Thursday sold, on average, 0.74 percent more than homes sold on Monday. A home listed for $500,000, for example, could see a $3,700 increase in its final sales price by listing on Thursday rather than Monday, the study shows.
Also, homes listed on Thursday tended to go under contract six days faster than homes listed on Sunday (the slowest day of the week for listings), the study found. Homes listed on Sunday typically take longest to find a buyer, spending an average of 47 days on the market, compared to properties listed on Thursday, which tend to spend 41 total days on the market.
Homes listed on Thursday may perform slightly better because they allow potential buyers to get a head start on their weekend plans, real estate pros say. Also, “psychologists have found that people tend to remember the last information they saw the best,” says Redfin Chief Economist Daryl Fairweather. “If you list on a Thursday, buyers will be more likely to see your listing as a ‘new home for you’ right before they go out and tour over the weekend.” Listing on Friday may be too late, and listing earlier in the week may have the home pushed aside by newer listings that surface closer to the weekend, the study notes.
Updated: June 20, 2019