Which day should you list your home to sell it the fastest? Here’s what experts say

According to a new analysis by Zillow, homes in Charlotte that are listed on a Thursday sell faster than those listed on any other day of the week. In addition, they are more likely to sell above list price.

It appears that Charlotteans are onto this trick — as 20.6% of Charlotte homes go on the market on Thursdays, according to Zillow. One local agent said she has been using this tactic for more than three years.

“To get the most qualified buyers and the highest offer in the first 72 hours, I’ve found that going live with a listing on a Thursday is incredibly effective,” Caroline Grossman of Allen Tate Realty said. “When Thursday rolls around, people are starting to plan their weekend, and they want to get in to see homes on a Friday or Saturday. People who are the most interested will go immediately, so it’s a highly effective strategy.”

Coming out of COVID-19, the housing market in Charlotte and around the country has been booming. While a balanced market has a six-month supply of homes, according to a recent Charlotte Observer article, Charlotte has just 18 days of inventory. Low inventory levels are one of the reasons nearly half of the homes listed in the U.S. are selling in under a week — and in Charlotte, that number jumps to 65%.

“Realtors are only committing to 30 minute blocks of time for buyers to look at homes, so I am at the home waiting, doing a walk of the perimeter, checking for foundation cracks, getting all of the information I can for my buyers because that 30 minutes is often all they have to make a decision,” Grossman said. “Buyers are forgoing due diligence, saying that it is OK if a home doesn’t appraise, waving repairs, buying homes sight unseen — it’s insane.”

According to the Zillow analysis, homes listed on a Sunday take seven days longer to sell than homes listed on a Thursday. Those listed on a Saturday or a Monday follow closely behind.

“I can’t say that I would agree with the Zillow assessment regarding what day a house is listed, especially in the Charlotte market. You can throw all the old norms out of the window in this current market,” said Derhyl Pruitt, broker-in-charge at Pruitt Miller Realty Group. “It doesn’t matter what day a home is listed when homes are going under contract within hours and/or when buyers are making offers on houses sight-unseen for “Coming Soon” statuses. Seven days in this market is a lifetime.”

The Thursday strategy worked — once upon a time, said Trent Corbin, president and CEO of The Redbud Group. “Back in 2017/2018, part of our strategic listing strategy for sellers was to list their home as coming soon and go live on a Thursday with an open house that same weekend.

“Fast forward to the past year and present day, that strategy is no longer a priority. The current market conditions in Charlotte have allowed this buzz of interested buyers to occur organically. Our team has established a new trifecta of tips and tricks to ensure a listing is sold for the most profit in a timely manner. By combining a free staging consult, a good photographer and a strong transaction team, we are yielding the results both we and our clients strive for.”

Buyers are having to act fast and be flexible. Grossman shared a story of a builder releasing six lots and a buyer bidding on five of them in hopes of ultimately securing just one.

“The only issue sellers would have is trying to find where they’ll live after they sell because then they’ll be on the other side of this crazy market if they’re looking to buy,” Pruitt said.

While listing prior to Labor Day has been a longtime industry norm and continues to have some relevancy as families hope to be settled before the school year begins, the booming market makes it less important, Pruitt said.

“It is a very exciting time, but it is not for the faint of heart,” Grossman said.

Get our newsletter

Sign up now to get CharlotteFive in your inbox daily.