By Shelley Sakala

Are you considering selling your home in North Phoenix? Well, here’s some good news: according to ATTOM, a leading real estate data provider, the best time to put your house on the market is during the spring and early summer months. Based on sales data spanning over a decade, this is when home buyers are most active, and sellers can fetch the highest premiums for their properties.

ATTOM’s analysis reveals some interesting findings. In the spring, sellers have the potential to secure 10% or more above market value for their homes. Specifically, the months of May and June boast the highest premiums, with sellers receiving a remarkable 12.8% and 10.7% above market value, respectively. As we transition into the summer, sellers can still expect to earn between 8% and 10% more.

Now, some sellers might be hesitant to list their homes due to concerns about their current low mortgage rates. However, the good news is that mortgage rates are actually falling and are expected to continue dropping in the near future. This presents an excellent opportunity for sellers to capitalize on the market conditions, particularly in light of the premiums available during the spring and early summer months.
Over the next 90 days, various residential economists and housing authorities predict a decline in mortgage rates. According to The Mortgage Reports’ survey, the 30-year mortgage is forecasted to drop to an average of 6.28% by the end of the second quarter. Predictions from industry experts range from a low of 6.1% (Fannie Mae) to a high of 6.56% (National Association of Home Builders).

This news is incredibly welcome, especially for buyers looking to secure lower mortgage rates and for hesitant sellers who might be motivated by the changing market conditions. Smart sellers can leverage these falling rates and the potential premiums during the summer months to strike a great deal.

So, if you’re considering selling your home in North Phoenix, now is the time to act. The spring and summer months offer the best opportunities to attract active buyers and secure premium prices. With falling mortgage rates on the horizon, it’s an advantageous moment for both buyers and sellers to make their move in the vibrant North Phoenix real estate market.


Shelley Sakala is a local realtor and owner of The Sakala Group Real Estate.