Memorial Day is Monday May 30 this year, less than two weeks from now. Austin home sellers may wonder if this traditional kickoff of the summer selling season in Austin actually produces offers. I have a listing for a home in Austin coming up that will be ready the weekend before Memorial Day. Would it be a waste of market time to list a home in Austin the Thursday before Memorial Day, right before everyone heads out for vacations, or should a home be placed on the market for sale as soon as it’s ready, regardless of holidays?
The potential downside could be that putting a home up for sale before a big holiday weekend will accomplish nothing more than earning it additional days on market with no hope for a fast offer. I mean, who spends Memorial day weekend looking at houses anyway, right? Might as well wait until the Tuesday after, if following this logic. But let’s see if the assumption is supported by data.
|Listed Before Memorial Day Weekend|
|Year||# Sold||Med/Avg DOM||% OLP|
The chart above shows the stats for the past 4 years for homes sold in the Austin MLS with listing dates the Wed-Mon preceding and inclusive of Memorial Day for each year. In other words, these homes in Austin were listed for sale either just before or during the actual Memorial Day weekend.
The fist column is # Sold, the next is the median and average days on market before the home sold. The last column is the percentage of Original List Price for which the home sold. If the assumption that these homes suffered “holiday lag time” is correct, then that should be revealed in the next chart, which will show homes that were listed for sale immediately after Memorial Day weekend for the same 4 years.