Is there a best day of the week to list Palos Verdes homes? I was forwarded an article by a client of mine (by the way, I really appreciate when you care enough to help me in my business so please continue to forward me articles for which you think I would have interest) written in the Wall Street Journal about what day of the week is optimal for listing a home.
Of course my mind immediately went to how this effects Palos Verdes homes and whether or not different parts of the country or different price ranges would react differently in this regard. 
A national study was conducted in which it was determined that homes listed on Fridays, when sold, ended up selling for 99.1% of the sellers’ original asking price but homes listed on Sundays sold for 98.4% of the original asking price. Now for Palos Verdes homes, realize first of all that over the last 6 months, for Palos Verdes homes, the number is 94.1%. Understand that the reason the “discount” from original asking price is much greater for Palos Verdes homes because the price range is so much greater than national averages and with higher prices, comes higher uncertainty.
Best day to put Palos Verdes homes on the market
But getting back to the study, the difference between 99.1% and 98.4% may not seem like a lot; however as the article pointed out when a property debuts on the market, the traffic is four times greater on the date of debut than any other time during the week. That’s a big difference! So you only have one chance to debut. It was observed that the worst day of the week to list your home (and this is true for Palos Verdes homes too) is Sunday. Fridays it was found was the best. What defines best?
The clearest measure of all – price, what the home sold for. It was found that the difference was about $5,000 for a $500,000 home. As a percentage, that may not be a lot, but let me ask you this. If you were walking down the sidewalk and saw a roll of $5,000 laying on the ground, would you pick it up? “Properties listed on Fridays also sell the fastest—81 days, on average, according to the analysis. What makes Fridays so special (other than a six-pack and takeout pizza)? Adults who have a Monday-to-Friday workweek tend to be more positive and happier on Fridays, an effect that lasts through the weekend, says Richard Ryan, professor of psychology at the University of Rochester. They also tend to report more vitality and energy on the weekends, which may prompt them to be more proactive in searching for homes, says Prof. Ryan, who has studied how the day of the week affects mood.
Conversely, Sunday listings have to sit around for a few days before people start lining up home tours for the following weekend. By that time, newer listings may make Sunday listings seem stale. One other day seems to dominate the real-estate world: Tuesday. Homes that are listed on a Tuesday garner the most interest for home tours, seeing 2.41 home-tour requests.” Regardless of what this study says, you’ve heard me say time and time again, “…real estate is ALL local…” What is true for one part of the country, may not at all be true for Palos Verdes homes. For example, the day most often picked for broker open houses, the day that Palos Verdes homes debut, is Tuesday.
That means to get on the tour for a Tuesday, Palos Verdes homes have to be listed and on the market Monday night at the latest. Yet more important that the day of the week to optimally list Palos Verdes homes, is how to optimally make Palos Verdes homes viewed by buyers around the world. This, by far, is a much more important topic. Think about it, whether you list a property on Sunday, Tuesday, Friday, whatever is its first impression to the world. What do you think that first impression is; in what format does that take place? I will address this in a future post, but you’re more than welcome to post a comment sooner.
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