Real Estate Market Trends

On which weekday do most homes go under contract?

By Richard Dews
© Copyright 2019 by Richard Garrett Dews. All rights reserved.

There are seven days of the week; you might assume an even distribution of the weekday in which buy/sell agreements are signed. When both parties finally agree upon purchase terms, it might follow multiple contract iterations, counter offers, etc. Monday through Friday are typical business days, and most agreements are signed during the work week (see chart blue bars – they track single-family residences sold this calendar year, for prices between $150,000 and $500,000).

Thursday is tops, followed by Tuesday, Friday and then Wednesday (in that order). There is a distinct drop in quantities on Saturday, and then a huge drop-off on Sunday. Homes that went under contract on Saturdays were on the market the fewest days (orange line). Those signed on Sundays were on the market the longest. They also sold for the smallest percentage of original list price (green line).

Takeaway: Saturday is the day in which buy/sell agreements are signed soonest after listing, and closer to their original asking price.

Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.

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