Friday, new research finds, is the best day of the week to list your new listings.

By Peter Ricci

A wide number of factors contribute a listing selling for its ultimate price, but recent research suggests that the home’s timeliness could add thousands to the final sale price.

According to research by Redfin, homes listed on Friday performed better than any other day of the week, selling for 99.1 percent of the original asking price; by comparison, homes listed on Sunday, the day’s worst week for listings, sold for 7 percentage points less.

It’s Friday, Friday, Gonna Get Down on Friday!

Apparently, Rebecca Black is not the only one excited about Fridays. As a recent piece by the Wall Street Journal highlighted, the final sale price is not the only advantage to listing homes on a Friday:

• Properties listed on Friday also sell the fastest out of all the days of the week, selling in just 81 days; as with final sale price, Sunday was still the worst, with sales taking 88 days.
• Why the success on Friday? Richard Ryan, a professor of psychology at the University of Rochester, told the Journal that working adults who follow a Monday-Friday schedule tend to be more positive and optimistic on Fridays, and that sense of euphoria lasts through the weekend; thus, should those adults be looking for homes, they’ll be more vivacious and energetic during the weekend, and more apt to looking for homes.
• Interestingly, homes that go live on Tuesdays generate the most requests for house tours, at a 2.408 average per house (Thursday was second at 2.40).

The Days of the Week Are…

So, how relevant is this information? And is it something that could actually assist you in your real estate business?

But for Hazel Goldman, a Realtor with RE/MAX Pinecrest and MBF member, does not see much merit to Redfin’s findings.

“It seems absurd,” she said. “It sounds to me like a complete joke.”

The more important factor, Goldman said, is the time of the year that the listing hits the market. For instance, a home listed in January may be on the market longer than a home listed in March or April, just as a home in a prominent school district may sell better during the summertime.