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Homes are selling at a record pace, but which listings sell the fastest?

By Carter Jones  –  Digital Producer, Minneapolis / St. Paul Business Journal

According to a recent analysis by Zillow, homes listed on a Thursday sell faster and are more likely to sell above list price than any other day of the week.

Nationally, 21% of home are listed on a Thursday, which is more than any other day. Homes listed on an off day, such as Sunday, sit on the market up to eight days longer than Thursdays.

The likelihood a home sells quickly, and above the asking price, also varied widely depending on the month.

Homes listed in mid-March sold faster on average than those listed at any other time. Meanwhile, listing the week of April 22 offered the best chance of selling above asking price.

The worst week to sell quickly is Labor Day week, when sales slow to a crawl. That’s because people typically want to be settled into their new home before the start of the school year.

Seattle-based Zillow analyzed listing and home sales data from 2019, which was the last full year of reliable data.