Tuesday, March 6, 2018

Attention Sellers: Take Advantage of the Spring-Summer Real Estate Market!

By Christine Schlittenhart, Vista Realty Group DRE#01704242

Spring to early Summer marks the beginning of the busiest home-selling and home-buying season in our area. With the warmer weather, more daylight, and the impetus to get a new house in order before the next school calendar begins, buyers are more likely to shop during this time of year, with home buying peaking in June. 
Below are a few reasons why you should take advantage and list during this “On-Season”:

  • Higher Exposure: There’s no doubt spring is when properties shine. The flowers are in bloom and buyers are out. Daylight saving time also gives buyers more time to look at houses, which means your property can be seen by more buyers during the day, leading to more exposure. More exposure means a bigger chance for more interested buyers.
  • Advantage of Bidding Wars: Bidding wars are a headache for buyers but a big plus for sellers. Bidding wars mean more money in your pocket. They also usually mean buyers are less likely to make repair requests or other demands. Additionally, cash buyers are some of the more aggressive bidders, so you might find a buyer with a fistful of dollars with a fast lane to closing day.
  • Higher Sales Price: Unlike other markets, where more inventory means lower prices, the housing market works the opposite way: Prices are highest in the prime season, when most homes are listed.
It sounds counterintuitive, but it’s a function of demand being very seasonal, driven by weather and school year. There are also more buyers in spring and summer, as this is the most convenient time for most people to move. So relative to demand, the supply of homes is actually tighter in spring and summer than in fall and winter.
  • Stronger Appraisals: When your house is being valued, the appraiser will look into data for comparable homes sold in your neighborhood. But if the most recent data is from a home that sold for cheap in the winter, it can hurt your valuation. With more homes selling in the On-Season, the comparable data (or "comps") are more accurate. 

Call one of your local Real Estate professionals today to take advantage of selling during our most marketable real estate season.  Spring + Summer = SOLD!

No comments:

Post a Comment