TheRedPin.com

TheRedPin.com

April 20, 2015 09:09 ET

Ready, Set, List! May 1 is Best Day to Sell a Home

Five Years of Real Estate Data Crunched Crowning Best Day to Sell

TORONTO, ONTARIO--(Marketwired - April 20, 2015) - Spring is prime-time in real estate, and Toronto brokerage TheRedPin.com is predicting a record-setting season ahead. The company has combed through the data and determined that May 1 is the unbeatable best day to sell your home.

Historical data for the past five years clearly shows that May is by far the best month to sell, with 20,809 homes sold in the month in 2014. With the high volumes of transactions, TheRedPin weighed many factors in establishing their May 1 selling recommendation.

"Year after year, May has blown away sales expectations. With the year's sales so far, we're expecting the market to explode over the next few weeks," said Rokham Fard, Co-founder & CMO of TheRedPin.com. "If you're planning to sell your home and see optimal return on your investment, you have just under two weeks to get it to market."

Fard points to a number of factors for this actionable data:

  • Between 2010 and 2014, homes sold for $18,650 higher in May than the calendar year average.
  • A typical house in Toronto sells in 21 days during the spring season; with May being the ideal month to complete a sale, listing the first of the month gives sellers optimal time to make the sale.
  • TheRedPin.com realtors® generally agree that Fridays are the best day of the week to list a home for sale: potential buyers are looking at listings in advance of weekend open-houses, and newer listings have the greatest appeal.
  • Along with increased listings in May come a larger pool of buyers who've been waiting to start their search when there is greater inventory to choose from. More buyers means more competition, leading to better offers.

Click here for a breakdown of May real estate by the numbers

Though May is definitely a sellers' market, Fard cautions would-be sellers from banking too heavily on strong demand.

"You still need to make your home as appealing as possible," said NAME. "There will be a lot of buyers, but there will also be a great deal of competition. It's important to make your home stand out."

Check out TheRedPin's blog for a list of tactical tips for selling your home.

About TheRedPin:

TheRedPin connects people, data and technology. Our platform carries the largest database of active residential listings in the Greater Toronto Area, with plans to expand nationally. We are a challenger brand, with a unique business model that streamlines the real estate journey, and provides exceptional end-to-end services and benefits, not found at other traditional brokerages.

Founded in 2010, four friends recognized that the real estate industry might be the only sector not influenced by technology. The four saw this as an opportunity to reinvent the way people bought and sold properties, more specifically the way homes were searched. Today, TheRedPin is much more than that.

We are a tech startup that doesn't answer to the industry, we answer to our clients and ourselves.

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