JAN 10, 2025
If you’re looking to sell your home in New York City, timing is everything. While it might seem tempting to wait until fall or beyond, real estate data shows that March is the best month for sellers looking to maximize their returns and reduce the time their home spends on the market. A detailed analysis from StreetEasy shows that homes listed during the early spring months—especially March—sell faster and for more money, offering sellers a unique edge. Here’s why sellers should consider listing their homes early in the year.
According to StreetEasy’s data, March stands out as the optimal month for sellers. Not only do homes listed in March typically sell faster, but they also have a higher chance of selling for more than the asking price. Homes put on the market in the first week of March go into contract 16 days earlier on average than similar homes listed at other times during the year. This is because eager buyers, fresh off the winter lull, flood back into the market as the weather warms up.
More importantly, homes listed in March are 4.1% more likely to sell above the asking price compared to homes listed during other months of the year. This is a significant advantage, as securing an offer above asking can mean a higher return for sellers, especially in a competitive market. The uptick in demand during March is partly due to a combination of buyer enthusiasm and the fact that many people begin to think about making moves in the spring.
Interestingly, the last week of April also stands out for sellers. Homes listed during this week—just after the stress of Tax Day—see a 4.9% higher probability of selling above ask. However, once Memorial Day arrives, the market cools as more New Yorkers leave for summer vacations. As a result, homes listed after Memorial Day tend to face a less competitive market, and the likelihood of selling above asking drops.
Spring is consistently the most competitive season for buyers. As the days grow longer and the weather improves, homebuyers are more motivated to get out and start looking. In fact, inquiries for listings in the spring (March-May) are 36.5% higher than in the fall and winter months, and in March alone, buyer inquiries are typically 81.2% higher than in December, the slowest month of the year.
This surge in buyer demand means there are more eyes on your listing, which increases the chances of a quick sale and multiple offers—both of which are ideal outcomes for sellers. The higher volume of inquiries also leads to homes selling faster—on average, homes listed in the spring sell nearly 4 weeks faster than those listed in the fall or winter.
While early fall, specifically after Labor Day, is still a popular time for listings, it’s not as competitive as spring. Homes listed after Labor Day tend to sit on the market 14 days longer than homes listed in other months. This is due to a combination of fewer buyers in the market as families settle into the school year and a surge of new listings flooding the market at the same time. As a result, buyers have more options, and sellers face longer wait times and a lower chance of selling above asking.
The holiday season also contributes to a slowdown in the market. The week of Thanksgiving is typically the least favorable time to list, as many buyers are busy with end-of-year plans and travel. As a result, listing during the holidays often leads to longer time on the market and fewer offers.
There are a few reasons why spring is the most competitive time for buyers in NYC. First, many renters in the city have leases that are expiring in summer, meaning they are motivated to purchase a new home before their lease ends. Similarly, families with children often prefer to move during the spring to avoid disrupting their children’s school year. Spring is a time when many buyers are in the market, ready to close quickly.
Additionally, many professionals working in fields like finance or tech receive their annual bonuses in the first quarter of the year, giving them extra buying power when the spring market kicks into high gear.
For sellers looking for even more precise timing, consider listing your home on a Wednesday. Data shows that homes listed mid-week tend to sell two days faster than those listed on a Saturday. While this may seem like a small difference, every day counts when you’re trying to attract the right buyer quickly.
However, the day of the week isn’t the most critical factor. The most important takeaway for sellers is to list in March, ideally in the first week. Sellers who miss the spring rush should be prepared to wait longer for a sale and may not achieve the same financial outcomes that a spring listing can offer.
In the highly competitive NYC market, sellers who list their homes in March can expect a faster sale and a higher chance of selling above asking. With buyer demand peaking in the spring and inventory still tight, this is the time to list. Sellers should be strategic, working with an experienced agent to price their homes appropriately and craft a marketing plan that capitalizes on the market’s seasonal uptick.
Timing your sale for the right moment can make all the difference—March is the prime window to get top dollar for your NYC home. Don’t wait too long to list; if you do, you might miss out on the surge of spring buyers eager to make their move
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
