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Plus, meet the Midwest’s hottest market…

Good afternoon. Spring’s homebuying frenzy actually has a sweet spot: a two-week window when sellers stand to earn an extra $6,000 or more, depending on where you live. See below for when to list and why timing isn’t one-size-fits-all.

Also this week: a Maine train station’s unexpected tenant, a property bargain you’re probably ignoring, and how ChatGPT just bested real estate agents.

—Judy Dutton and Sissy Yan

WEEKLY HOUSING TRENDS

Sources: Mortgage rates from Freddie Mac; housing data from Redfin.

  • Mortgage rates shot up to 6.38% this week from 6.22% last week for a 30-year fixed-rate home loan, according to Freddie Mac. At this time last year, rates were at 6.65%.
  • List prices rose 2% year over year to a median of $423,225 in the four weeks ending March 22, according to Redfin. But buyers haggled them down to $389,269, proof that sellers are willing to bend.
  • Homes spent a median of 56 days on the market, six days longer than a year ago.
  • Active listings fell 1.7% to 1.05 million—the sharpest drop since 2023.

THE BIG STORY

Calendar highlighting a key date with “It’s Time!” and price tags

Anna Kim

If you’re angling to sell your home for top dollar, circle late May on your calendar.

Zillow found that, in most parts of the country, properties listed during the last two weeks of May sell for the highest prices—about 1.7% more or $6,000 on a typical home. Why? Because that’s when buyers flood the market, bidding up prices.

But that timing isn’t one-size-fits-all: In San Jose, CA, the best window hits way earlier; the first two weeks of February are when sellers can score a 3.1% premium (about $53,800). Baltimore, meanwhile, peaks the latest, in the second half of June, when sellers can snag 2% more ($8,000).

Still, chasing peak prices comes with trade-offs. For one, you’ll face more competition from other sellers targeting the same buyers. That’s why Realtor.com urged sellers to list a bit earlier this year: April 12–18. This week boasts an ideal balance of 11.9% fewer properties than average, 16.7% more views per listing, a nine-day faster sales pace, and a 1.3% higher price (around $5,300).

Broader market conditions are also improving, setting the stage for a busy spring. With mortgage rates now closer to 6%—down from around 7% last year—Zillow expects home sales to rise 4.4% in 2026.

Chart showing the best time to sell a house by city and potential price premiums.Source: Zillow; Designer: Andre Blockett

“I’m listing three weeks earlier than I did last spring, ahead of the wave,” says Florida real estate investor and agent Alexei Morgado. “Lower rates got a lot of people back in the game.”

Sellers are also ditching the old “aim high and adjust later” dance.

“Last spring, I could test a higher price. Not this year,” says New Jersey–based investor Derek Lopez. “There’s no time for aspirational pricing.” With more inventory and faster deals, he’s pricing “tighter from day one” and spending more upfront on repairs. “Preparation has supplanted patience as the new strategy,” he explains.

As for what this means for buyers: Spring shoppers will likely pay a premium, so die-hard deal hunters may want to wait until October, traditionally the cheapest time to buy. Still, even in a competitive spring market, timing can work in your favor.

“Buyers who wait until May will go up against a wave of competition,” Lopez says. “As a buyer, I’m starting sooner, too.”

From The Crew

WHAT'S UP THIS WEEK

Aerial view of a coastal town with homes lined along the shoreline.

Jason Doiy/Getty Images

This overlooked type of home can be purchased for a mere $141,450—and prices are still falling.

Real estate surfing just got an upgrade with Zillow AI mode, which allows you to skip the filters and just ask: “Find affordable Miami pool houses with open houses this Saturday.” It can also book tours, pull comps, and suggest what to offer.

This new kind of mortgage is helping buyers afford homes in a high-rate world amid economic uncertainty.

Sellers now outnumber buyers by about 46%—the widest gap in over a decade.

This single word in your listing could boost your sale price by 3.2%.

These properties are trading 30% below what they’re worth. Why? Blame it on politics.

Home flippers saw the lowest returns since the Great Recession. Find out how much they made, and whether things are looking up.

That 30-pack of paper towels may seem like a good idea, but here’s why one professional organizer says we should just stop.

One Florida man bypassed Realtors and used ChatGPT to sell his home for $100,000 more than agents thought it was worth. Here’s how he did it.

REAL TALK

Historic brick train station building in a small town setting.

Summit Real Estate

Train travel had its heyday a century ago. Since then, plenty of stations have been left behind. In Maine, one depot found a particularly fitting reinvention: It became a cannabis shop. Now, it’s on the market for $975,000.

But the real story isn’t just what it sells: It’s what comes with it. Listing agent Anna Boucher explains.

Q: What’s this station’s story? “It was built in 1911 and served as Gardiner’s train station for decades until it became obsolete. Ken Tuttle, who had been revitalizing downtown Gardiner, had an opportunity to purchase the station and couldn’t pass it up. It’s one of those properties that stops you in your tracks. He recognized what it meant not just architecturally, but for the downtown as a whole.”

Q: What does this property serve as today? “The building is leased to a cannabis dispensary, HighNorth Mystique. They’ve done a nice job bringing in steady traffic downtown. Recreational cannabis has been legal in Maine since 2016, with retail sales starting in 2020. This isn’t the only dispensary in the area, but it’s definitely one of the most visible.”

Q: What are this property’s high points, so to speak, as an investment? “Current rent is $5,200 per month with annual increases on a triple net lease. The seller is open to owner financing, in which the seller carries the note, which is more flexible than traditional bank financing. Plus, one underrated part of the property is a lower parcel along the Kennebec River that’s just sitting there as an old parking area. It’s one of those ‘future value’ pieces that isn’t fully realized yet to create outdoor space or explore recreational or boat access.”

Q: What advice would you have for the buyer? “Understand both sides of this property: the income side and the future opportunity side. You’ve got a historic structure in a walkable downtown, a tenant in place covering expenses, and additional upside with the waterfront. It checks a lot of boxes for someone looking for a blend of stability and long-term potential. You can feel the history in it, but it’s not stuck in the past. Those are the types of properties that hold value over time.”

Click here to see more photos of this listing, and scroll down to learn the surprising perks of this property’s triple-net lease (and why you might want one, too).

Interior of a train station with high wooden ceilings and open waiting area.Summit Real Estate

YOU ASKED, WE ANSWERED

A triple-net lease, or NNN, is a contract for commercial property (like the train station-turned–cannabis store above) in which, in addition to paying rent, the tenant covers three main expenses, or “nets”: property taxes, insurance, and maintenance/repairs. That leaves landlords responsible for just the mortgage. “From an ownership standpoint, it’s about as passive as it gets,” explains Maine real estate agent Anna Boucher. “You’re collecting rent without worrying about day-to-day expenses or surprise costs.”

Tenants willing to shoulder a triple-net lease don’t take on the extra costs for nothing. In exchange, they typically pay lower rent and gain more control over the property. “They can operate the space more like it’s their own,” Boucher adds.

Another advantage? Stability. Triple-net leases also tend to last longer than residential contracts—as long as 10 to 15 years with rent escalations. While this sounds pretty sweet, the success of this arrangement hinges heavily on your tenant, so you’ll want to do your due diligence and make sure they’re solid. Learn more about the pros and cons of triple-net leases and owning commercial property.

Got a question about real estate? Ask it here, and we’ll answer it in a future issue.

HOUSING MARKET OF THE WEEK

Collage of Rockford, Illinois, featuring a riverfront bridge, city sign, suburban home exterior, and renovated kitchen interior.

Top, left to right: Wirestock/Getty Images; benkrut/Getty Images. Bottom: Bobby Walsh/Dickerson & Nieman Realtors.

Rockford, IL, has had a rocky past, and the city’s mayor is the first to admit it. According to Tom McNamara, “It wasn’t that long ago we were known as the underwater mortgage capital of the US” and “the most miserable community to live in.” Since then, though, Rockford’s affordability has transformed it into one of the hottest markets in the nation. Check out just how far the city has come.

Average home price: $172,610 (up 9.5% YoY)
Homes that sell over list price: 42.9%
Homes that sell under list price: 40.0%
Average rent: $1,151/month

The pros: “Rockford offers some of the most accessible entry points in the Midwest, well below both Illinois and national medians,” says Conor Brown of the NorthWest Illinois Alliance of Realtors. “That low buy-in creates strong cash flow potential from day one.” As a result, “Investor interest has been growing from Chicagoland, drawn by easy transportation and commute access.”

The cons: Although home prices here are up nearly 10% since this time last year, “historically, appreciation has been weak,” he says. “Wealth-building here leans more on cash flow than equity growth, though that dynamic is shifting.”

His advice: “Look for value-add opportunities: The spread between purchase prices and ‘after repair values’ is one of Rockford’s biggest advantages,” Brown says. “Investors who can renovate efficiently outperform.

Case in point: Local investor Bobby Walsh recently bought a property for $40,000, poured $130k into renovations, and soon got the house under contract for $239,900—proof that investors who can flip quickly stand to make a ton of cash. Here’s more on how to pull off a fast flip.

Got a home or housing market you want to highlight in The Playbook? Tell us more about it here, and we’ll consider featuring it in an upcoming issue.

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