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.
If you own a rental property in the Cary area, keeping it in good condition and properly maintained is very important. Properties that are not well kept will continue to wear down and eventually will lose their value. Due to the extreme heat, maintaining a property in Cary after the heat of summer does come with some challenges.
Fortunately, along with the help of our experienced property managers in Cary, there are summer rental maintenance tips that can be followed that will help to keep your property in great shape.
Roof and Brick
To ensure your roof and bricks are ready for cooler temps and upcoming winter storms, you should enlist of the help of our trusted property managers in Cary to make sure that all of the major elements of the home are functioning properly. Doing this will help to ensure that your home is in good shape and ready for the upcoming fall season.
Clean and Check for Cracks
The end of summer should also be a time to make sure that the property is fully cleaned. You should follow rental maintenance tips and spend time examining the gutters, walkways, foundation, and other areas of the home to make sure they are clean and free of cracks. Any issues that you notice should be addressed immediately and reported to your property manager.
If you are in need of assistance in the management of maintenance of your rental property, you should contact us today. We can provide you with a variety of services to keep your property occupied and properly maintained.
Since the moving process doesn’t end once you’ve signed the lease, we are pleased to offer Updater to all our residents. In case you’re unfamiliar, Updater simplifies the moving process by helping you save time on moving-related tasks.
With your Updater account, you can:
Purchase renters insurance
Forward your mail
Update accounts and subscriptions (such as alumni associations and magazines)
Connect your utilities
Find home services in your area (like cable and phone providers)
Schedule in-home moving estimates
Browse exclusive move-in offers
Share digital moving announcements with family and friends
We believe in customer service from start to finish, and offering Updater is one way we will continue to achieve this goal. Learn more about Updater’s featureshere.
When it comes to moving, the struggle, unfortunately, isn’t over once you’ve found your new home. Whether it’s changing your address, finding home service providers, or simply packing up your life into boxes, every step of the moving process is tedious, time-consuming, and downright stressful. To help simplify the moving process, we are offer Updater to all our residents! In case you haven’t heard of it, Updater is a web app that allows residents to save time – and stay organized – during the moving process.
HERE’S WHAT YOU CAN DO WITH YOUR UPDATER ACCOUNT:
Connect Utilities & Home Services
Updater connects you to the utility providers you need to set up in your new home. Additionally, Updater’s personalized Moving Concierge helps you find the best deals on the Internet, cable, phone, and other home services in your area. Updater can even schedule installation on your behalf!
Find and Book a Reputable Moving Company
Updater helps you compare, schedule in-home estimates, and book trustworthy, pre-approved moving companies. Forward Your Mail Save the trip to the Post Office by filling out your official USPS mail forwarding form directly within Updater.
Purchase Renter’s Insurance
Updater makes it easy to purchase renters insurance and make sure your belongings are safe and sound in your new home.
Update Your Accounts
Frequent flyer accounts, alumni associations, magazine subscriptions, etc.— Updater makes it easy to notify the businesses and organizations you care about of your new address.
Send Moving Announcements
Don’t forget to keep friends and family in the loop! Updater’s digital moving announcements let you add a personal message and even link to your new address on Google Maps. Claim Exclusive Moving Deals Updater helps you compare, schedule in-home estimates, and book trustworthy, pre-approved moving companies.
Barker Realty is always trying to improve our customer service and amenities for our residents. Updater is one of the tools that provide a high level of individualized customer service to our residents.
