A new report from Zillow using 2016 data cites spring as the season when listings flood the market. But if you want the best bargain, wait until the end of summer.
According to Zillow, April is the hottest month for real estate listings to hit the market. In most large markets, April, May, and June are when the largest influx of homes become available. Noting temperatures may play a factor nationwide, San Francisco saw close to 4,500 new homes for sale both in May and June and only 1,600 new listings in December.
One out of four homes sell above listing price between the spring months while popular cities report an even higher rate. Outrageously-priced San Francisco reported having 73.3 percent of successful home sales above list price in March. That dropped down to 47.8 percent by November.
In large markets, the highest number of active listings with at least one price decrease occurred between August and September last year. San Francisco did not disappoint with 12.3 percent price reductions in active listings for August, the highest percentage of any point in 2016.