You don’t always get to decide exactly when to buy or sell your house. But if your timeline has a little flexibility, it’s wise to consider real estate’s seasonality. 

The National Association of Realtors published data on a seasonal approach to the housing market. They found that there are significant seasonal trends that impact both buying and selling real estate. 

According to their data, the peak buying season is spring – more specifically, April through June, with June being the highest peak all year. Nationally, home sales exceed 18,000 homes per day in June.

Springtime sees both higher supply and demand in the housing market. The National Association of Realtors noted that the higher demand means that sellers can list higher prices. In fact, homes are 16% more expensive in June compared to December through February.

Spring Real Estate Stats (April-June):

• Average of 16,530 existing homes sold per day
• Average of 2,000 of new homes sold per day
• Median number of 33 days on the market

As a real estate professional, buyer, or seller, what does this mean for the local housing market? Is spring the best time to buy or sell a house? 

Pros and Cons to Selling or Buying a Home in the Spring

Buying:

• More houses on the market means more options.
• Expect to pay more for a house in the spring months compared to the rest of the year.
• The market is more competitive, so there may be multiple offers and bidding wars on the best houses. Be prepared to make an attractive offer.
• Houses are on the market fewer days, so you need to act quickly if you want to put an offer down.

Selling:

• You can list your house at a higher price due to the higher demand.
• A competitive market is a double-edged sword. Your property is being compared to more options, but you may reap the benefits of multiple offers or bidding wars. 
• Homes sell faster with fewer days on the market. The data shows that in June, the median days on the market is 31 days, about two weeks faster than in December through February.

Consider this: The National Association of Realtors found that these housing market trends are true in every region of the county, with only slight variations. They also apply to both existing-home sales and new home sales, but are more true for existing-home sales since many new homes are bought during construction.

Barker Realty Can Help

Barker Realty is available all year long to help you make the best real estate decisions, whether that’s finding your dream home or a smart rental investment property.