When is the best time to sell a home in NYC? StreetEasy has the answer

The New York City housing market has its peak and slow seasons. Although the decision to sell a home is highly personal and takes into account many factors outside of seasonality, it is still beneficial to follow the changes in the housing market. Listing a home at the right time can help sellers find a buyer quicker and score the highest offer. 

The recent analysis from StreetEasy shows that NYC condos and co-ops that appeared on the market in the first week of March tend to sell at the quickest pace. On average, these apartments went into contract 16 days earlier than listings that entered the market during other times of the year. On the other hand, the worst time to list a home for sale is the second to last week of the year. These listings usually went into contact 29 days later due to the weaker demand from buyers. 

Early spring and the beginning of fall are usually known as the best time to list your home for sale, as most New Yorkers prefer to move ahead of the summer holidays or before the school year starts. Sellers looking to score the highest profit should list their homes in the last week of April. The StreetEasy report indicates that co-ops and condos listed for sale in New York City right after the week of Tax Day sold, on average, 4.9 percent above the asking price. 

“In the spring, the days are longer and the weather makes people want to get outside and look at homes,” said Meg Walhime, StreetEasy Expert and agent with Compass. “The days are back for Sunday brunch and open houses.”

Fall is another hot season for selling a home. However, sellers usually see more demand from buyers in the spring than in the fall. As the new school year begins, fewer New Yorkers search for a new home. According to StreetEasy, apartments listed for sale after Labor Day sit on the market 14 days longer than comparable homes that hit the market at a different time of the year.  

“Prepping a home for sale takes time. Sellers should give themselves at least a month of lead time to do minor repairs such as painting and decluttering,” Rachel King, an agent with SERHANT, told StreetEasy. “The market can change very quickly, so it’s best to do all the prep work in advance and keep an eye on the market to ‘go live’ at the perfect time.” 

Resources:

“What's the Best Time to List a Home for Sale?” by Kenny Lee (StreetEasy, 2023)

“When is the best time of year to buy or sell a NYC apartment?” by Jennifer White Karp (Brick Underground, 2023)