Is Friday REALLY the Best Day to List Property? The Data May Surprise You

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For those of you who spend much of your time reading blogs and white papers about the real estate market, it is likely that you have stumbled upon reports published by Redfin.

Some time ago an article caught my eye. After examining 17 markets, Redfin created a top 5 list for home selling tips. One of the tips was that they found that Friday was the best day to list a home since it resulted in a faster sale — and a sale price closer to the asking price.

In order to examine whether we can make similar claims on when a price is changed, I pulled 7 years of data for multi-unit properties in Chicago. Of the 11,000 parcels that sold, nearly 4,800 had at least one price change with a max of nearly three dozen.

Related: All Rental Listings Are Not Created Equally

This 4,800 is what I am looking at here.

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The Importance of Top Listing Positions

For those of you on the brokerage side, you are well aware that both the original listing, as well as each price change leads to a top listing position on multiple listing services. Stated more plainly, the multiple listing service will position a listing “on top” when it is new or when a price change is made.

This positioning will tend to bring a listing in front of investors’ eyes and presumably increases the attention on it in a similar way to that of an original, or “new,” listing. The argument here is that since the goal is to draw attention to a parcel, practitioners should have a firm understanding of both the optimal day to list, as well as the optimal day to initiate price changes in order to garner the most attention from prospects.

What follows is a very brief breakdown of how price changes affect the sale of properties.

4 Conclusions We Can Draw from Data on Price Changes

1. Most Price Changes Are Discounts

When price changes become necessary, the data shows that 77% of all parcels that undergo price changes require three or fewer changes and that the average price changes are discounts that are approximately 6-8% from the most recent list price.

2. Mondays and Tuesdays Are the Most Popular Days to Initiate Price Changes

Still, the discounts are not significantly different than other days. From a practical point of view this may encourage us not to change prices on these days since we will likely be facing so much competition for attention.

3. Friday May Not Really Be the Best Day to List

Even though previous research supported the position that Friday is the optimal day to list single family homes, this cannot be defended when examining the statistical difference between days.

In fact, the marginal benefits to a seller seemed to come to those who initiated price changes on a Wednesday, since these resulted in a reduction of the discount by approximately 1.9 percent, selling marginally closer to the asking price. Additionally, changing prices on Wednesday resulted in a reduction in time on market of approximately 5 days. Both of these factors were significant at the 10 percent level.

Related: Using the “Old” Media to Market Your Listings

In other words, Wednesday price changes resulted in prices closer to list and shorter times on markets.

4. Prices Changes on Fridays Are Most Significant

From a buyer’s perspective the story changes slightly. When price changes occur on Friday, the resulting average discount is greatest at 9.31%. Similarly, discounts from the market price are greatest when a price change is submitted between Friday and Sunday.


So from the data, we can conclude that Monday and Tuesday seem to be the most popular days to initiate a price change, but the most significant discounts (as related to the final sale) take place on the weekend, Friday through Sunday, as stated above.

Practitioners may consider that not only are price changes of the weekend less common, but that they also tend to result in the most significant discounts on the sale price. This may result in practitioners that are selling to avoid price changes on the weekends.

What do you see in your personal experience — do your properties tend to sell faster and for closer to list price on a certain day of the week? 

Leave me a comment below!

About Author

David Rodriguez is a professor of finance and a managing real estate broker/owner. As a real estate investor himself, David has been able to leverage the academic and practitioner experience. This shows through the development of his own residential real estate portfolio across three states and his goals to help investors to do the same. David has published courses, chapters and articles in the realm of finance and real estate and is always looking for ways to get information to those that are interested.


  1. No opinion on if there is any actual correlation between day of the week a listing or price change is made. My guess is that there isn’t anything that useful outside the noise.

    What I will say is that qualitatively listing or making other changes Friday-Sunday makes little sense. People look at houses over the weekend and the agents will set their schedule with clients during the week. If you list late in the week or weekend you might miss out on showing until the following weekend for people with limited schedule flexibility.
    If the house is “hot” it probably doesn’t matter at all when it is listed since you will get people out there.

    I personally like to list and price change late on Tuesday. Figure it will hit everyones “Hot List” when they start work on Wed and Wed/Thurs is when a lot of these schedules get set.
    In my experience I get most of my showing requests for Sat and Sun and most of those come in Wed and Thurs, so I have some rational behind my method.

  2. David Rodriguez on


    I would tend to agree that it could be noise. From a practitioner perspective I would tend to think it depends on how long your listing is top listed as a result of a price change. In my system it is top listed for 4 days. This would tend to support a Tuesday or Wednesday change. However I do know that some systems top list for 7 days which may end up eliminating the concern on any day of the week.

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