That’s how much extra money the average U.S. home seller can expect to reap when they post their home for sale in the middle of the week rather than on the weekend, according to a new analysis.
Homes listed for sale on Tuesday, Wednesday, or Thursday sell faster and for more money than those listed on weekends throughout the country, with midweek-listed homes selling 1.6 days faster on average, real estate firm Redfin said in a report released Tuesday.
Boston metro area homes fetch the biggest midweek premium among the 25 metro areas tracked, at $7,100 more, compared to Minneapolis and Kansas City, which were the lowest, with $400 premiums. St. Louis-area homes listed midweek paced the 25 metros in terms of speed gained, selling 3.5 days quicker, versus Sacramento, California, where the speed advantage was the smallest among the metros, with homes there going 0.7 days faster on average if they were listed midweek.
As for why the hot housing market, with its high prices and quick turnaround times for listings, is downright scorching in the middle of the week, the answer comes down to how homebuyers typically schedule home viewings. Most buyers have already filled their weekend home viewing schedules by Friday or Saturday, especially during the pandemic, while homes listed on Sunday or Monday run the risk of being forgotten before the following weekend, Redfin said.