What’s the best season to buy (or sell) a house? Barker Realty explains real estate seasonality and why you should consider spring real estate market trends.
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.
Cary, NC, located in the Raleigh, NC metro area, is one of the best cities for Renters in the country.
Cary, NC Tops the List of Rental Markets
In a 2024 study, USA TODAY Homefront ranked 315 U.S. cities to find the best city for renters, and the Town of Cary, NC came out on top, surpassing Raleigh at No. 11.
The study used 19 key metrics to determine the best cities for renters based on the best cost incentives and optimal quality of life benefits. Researchers compared cost of rent, renter incomes, rental inventory with number of bedrooms, prevalence of others renting, schools, daycares, restaurants, crime rates, recreation, walkability, pet friendliness, and more.
Cary was named No. 1 because of its affordability, high-paying job market, low crime, access to recreation, and good schools.
The town also won the “Best City for Renting Families” category. There are nearly seven childcare facilities per 1,000 children, and Research Triangle Park provides ample job opportunities. This makes Cary a popular spot among millennials to settle down with their families.
Cary was in the Top 5 for two other categories, as well: No. 2 for “Best City for Renters with Pets” and No. 4 for “Best City for Single Renters” – both thanks to a high walkability score.
Nine other North Carolina cities ranked in the top 190. For comparison, the lowest rank was Menifee, California with a score of 53.1 and a typical rent of $2,682.
Rank
City
Score
Typical Rent
1
Cary, NC
100
$1,719
11
Raleigh, NC
90.7
$1,684
37
Wilmington, NC
85.6
$1,732
69
Concord, NC
81.6
$1,783
76
Durham, NC
80.9
$1,676
103
Winston-Salem, NC
79.0
$1,459
107
Charlotte, NC
78.5
$1,787
121
Fayetteville, NC
77.6
$1,359
134
Greensboro, NC
76.7
$1,363
184
High Point, NC
73.8
$1,531
Whether you are looking for a place to rent, property management services, or someone to sell your commercial real estate, the team at Barker Realty can help. With over 40 years as a local, family-owned business in Raleigh, Cary, and Wake County, you can trust you are working with a real estate company that strives to provide personal attention and exemplary service. Contact us online or call 919-859-0044.
Cary, NC Rankings
Overall:
Rank
City
Typical Rent
Annual Renter Income
Percentage of Renters Rent-Burdened
Percentage of Rental Vacant
1
Cary, NC
$1,719
$73,872
42.3%
18.3%
Families:
Rank
City
Percentage of Renters that are Families
Percentage of Rentals (Two Bedroom or More)
Crime Rate per 1,000 Residents
School Score
Childcare per 1,000 Kids Under 5
1
Cary, NC
22.5%
68.1%
10.5
8
6.8
No. 4 Best City for Single Renters:
Rank
City
Percentage of Rentals (Studio or One Bedroom)
Percentage of Population Age 20-39
Walkability Score
Bars per 1,000 Residents
1
Cary, NC
22.5%
68.1%
8
6.8
Cary also ranked No. 2 for best city for renters with pets:
Understanding the Role of a Property Manager in Raleigh
Property management plays a crucial role in the real estate industry in Raleigh, NC. A property manager is responsible for overseeing all aspects of a rental property, from finding tenants and collecting rent to handling maintenance and repairs. They act as the liaison between the landlord and the tenants, ensuring that both parties are satisfied with the rental experience.
Key Considerations for Hiring a Property Management Company
When looking to hire a property management company in Raleigh, there are a few key considerations to keep in mind. First, make sure to research the company’s reputation and experience in the local market. You’ll want to work with a team that has a strong track record of success and knows the ins and outs of the Raleigh real estate market. Additionally, consider the fees and services offered by the company to ensure they align with your needs and budget.
Top Tips for Successful Property Management in the Raleigh Real Estate Market
For real estate investors looking to successfully manage their properties in Raleigh, there are several tips to keep in mind. First, prioritize tenant screening to ensure you find reliable and responsible renters. Conduct thorough background checks and verify income to reduce the risk of late payments or damage to your property.
Secondly, stay on top of maintenance and repairs to keep your property in top condition. Regular inspections and proactive maintenance can help prevent costly repairs down the line and keep your tenants happy. Thirdly, communicate openly and effectively with your tenants to address any concerns or issues promptly. Good communication can help build trust and foster positive relationships with your tenants.
Lastly, stay informed about local rental laws and regulations to ensure you are in compliance with all requirements. Understanding the legal obligations for landlords in Raleigh can help you avoid potential legal issues and protect your investment.
Property management is a crucial aspect of successful real estate investing in Raleigh, NC. By understanding the role of a property manager, carefully selecting a reputable company, and following key tips for successful management, investors can maximize their returns and build a strong portfolio of rental properties in the thriving Raleigh real estate market.
Barker Realty, Inc – Serving Raleigh Metro Area Since 1984
Understanding the Role of a Property Manager
When you own a property, managing it can be a time-consuming and overwhelming task. This is where a property manager comes in. A property manager is responsible for overseeing all aspects of a property, including finding tenants, collecting rent, maintaining the property, and handling any issues that may arise. They act as the middleman between you, the owner, and the tenants, ensuring that everything runs smoothly.
Qualities to Seek in a Reliable Property Manager
When looking for a property manager, there are several key qualities to keep in mind. First and foremost, you want someone who is trustworthy and reliable. This person will be handling your property and your tenants, so it’s important to choose someone who can be counted on to do a good job. Additionally, a good property manager should have excellent communication skills, be organized and detail-oriented, and have a solid understanding of the local real estate market.
Essentials for Selecting a Professional Property Manager
When selecting a property manager, it’s essential to do your due diligence. Start by asking for recommendations from other property owners or real estate professionals. Once you have a list of potential candidates, be sure to interview each one to get a sense of their experience and qualifications. Ask about their experience managing properties similar to yours, their approach to handling tenant issues, and their fees and policies. It’s also a good idea to ask for references and to check their credentials and licenses.
In addition to interviewing potential property managers, it’s important to also consider their track record. Look for a property manager who has a proven track record of success and a solid reputation in the industry. You want someone who has a history of effectively managing properties, maintaining good relationships with tenants, and resolving issues in a timely and professional manner.
Overall, hiring a trustworthy property manager is essential to the success of your property investment. By understanding the role of a property manager, seeking key qualities in a reliable candidate, and focusing on the essentials when selecting a professional, you can ensure that your property is in good hands and that your investment is protected.
One of the key benefits of hiring a property manager for your investment property in Apex, NC is the operational expertise they bring to the table. Property managers are experienced professionals who are well-versed in handling all aspects of property management, from finding and screening tenants to handling maintenance and repairs. By entrusting your property to a property manager, you can rest assured that your investment is in good hands and being managed efficiently and effectively.
Financial Benefits of Hiring a Property Manager
Another significant benefit of hiring a property manager is the potential for financial savings and increased revenue. Property managers have a keen understanding of the local rental market and can help you set the optimal rental price for your property. They can also help you minimize vacancies and maximize rental income by finding and retaining high-quality tenants. Additionally, property managers can handle rent collection and ensure that your property is well-maintained, which can help prevent costly damage and repairs in the long run.
Peace of Mind Benefits of Hiring a Property Manager
Perhaps the most valuable benefit of hiring a property manager is the peace of mind that comes with knowing that your investment property is being properly cared for. Property managers handle all aspects of property management, from marketing and leasing to maintenance and tenant relations, allowing you to focus on other priorities in your life. With a property manager in place, you can rest easy knowing that your investment is being well-maintained and protected, giving you the freedom to enjoy the benefits of property ownership without the stress and hassle of managing it yourself.
In conclusion, hiring a property manager for your investment property in Apex, NC can provide a wide range of benefits, from operational expertise to financial savings to peace of mind. If you are looking to optimize the performance of your investment property and enjoy a stress-free property ownership experience, consider hiring a property manager to help you achieve your goals.
