Like the weather, the real estate market changes with the weather. Both sellers and buyers act differently depending on the time of year, and this article will take a closer look at what those changes are and how you can plan for them in your selling or buying process.
Understanding Seasonal Real Estate Changes
There are always a number of factors impacting the real estate market as a whole, but in general terms, you can expect the following pattern –
● During the spring and summer months, listings and competition tend to be high
● Generally, when fall and winter arrive, there are fewer houses on the market and fewer active buyers
● Buying a home in the spring or summer might mean paying a higher price
● Purchasing a house during the fall or winter could lead to a deal, but fewer properties will be available to pick from
There isn’t a perfect time to buy a house in terms of the season, as pros and cons exist for each time of year. It’s best for most people to buy when they are ready to buy or sell, regardless of the time of year.
Why Do Seasons Impact the Real Estate Market?
What is it about the changing seasons that tends to cause the residential real estate market to change? A few factors are at play here –
● School schedules influence when families are able to relocate
● Weather conditions have an effect on how many people want to go look at listings
● Daylight hours also limit how active buyers are during the fall and winter
● The holiday season tends to shift priorities away from buying or selling a house
How Can You Plan Ahead for Success?
There are a few fundamentals that you should keep in mind if you want to have a seamless, stress-free buying or selling experience.
● Secure financing early. If you are going to be using financing to buy a home, get that part out of the way right at the start. With your financing locked in, you’ll be ready to make a strong offer as soon as you find a property that fits your needs.
● Get the house ready in advance. For sellers, doing work gradually to get the house ready to sell is a smart move. Don’t try to handle a bunch of repairs at the last minute when you can chip away at those repairs over time, so the house looks great when it hits the market.
● Use local expertise. It’s a great idea to partner with an experienced real estate agent who understands the market and can provide you with insightful advice.
Get Started Today
Do you want to work with trusted Realtors who will work hard to get you the right deal? Smith Marketing knows the Greensboro real estate market extremely well, and that knowledge will help you execute a great deal in a timely manner. Whether you are selling, buying, or doing both, reach out to Smith Marketing today to learn more.
