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  • Timing the market

    Thursday, April 11, 2024   /   by Amy Brown

    Timing the market

    I'm sure that you have heard the phrase, "Timing is everything". Real estate is not an exception to the rule. Timing your sale or purchase is extremely important but it has to be the timing that coincides with the outcome that you want to achieve. So let's talk about some different scenarios and what the best timing would be. 

    When is the best time to sell?


    That depends upon whether you are looking for a quick close and the highest price or if you have the time to wait for the right buyer to accommodate special circumstances. 

    Special circumstances would be that you need an extended closing or you desire a leaseback in order for a new home to be finished or to find your next home. 

    Historically, the time when the most buyers are in the marketplace is Spring and Summer. This is when you can expect the highest number of showings and buyers desiring a shorter close period because they are trying to get moved before school starts again or to work in a vacation, etc. 

    The highest number of buyers = the highest demand = the highest price

    But the fall and winter months are great times to sell if you need some extra time or for higher priced luxury homes. Reason being is that people buying in this price point are not dependent upon school or work schedules. They are also looking to move out of more inhospitable climates such as the northern states when the snow starts to be just a bit too much. These clients have more time to allow for closing, tend to not be in a rush, and are flexible on terms.

    Also, with less inventory, your home tends to stand out for those looking to go ahead and make a move.

    When is the best time to buy?


    Buying is very dependent upon your life's obligations. Those families with school children will need to buy in the spring and summer. While you can expect more competition and higher prices, you can also expect much more inventory giving you a lot more options.

    If you are wanting a specialty property such as lakefront, you will pay less if you buy in the fall and winter months than you will if you buy during the Spring since everyone's thoughts trend towards water activities at that time. You will also have a lot more competition for a property like this during the warmer months.

    If time of year is not an issue for you, then buying during the colder months will allow more affordability, however, inventory will be lower. 

    Is achieving the optimal selling situation completely dependent upon season?

    No. Homes with certain features will sell for the highest price possible regardless of time of year. These would be homes with features such as one level living ability, walkable to amenities, a spectacular view, desirable neighborhood, new construction, and/or low maintenance.

    Can I get a great price on a home during the high season?

    Yes. Especially in today's market where trends are stabilizing, those buyers who are able to purchase with cash or cash equivalents such as a 1031 exchange will be able to override the competition. Also, if you are able to keep your terms flexible, you will have a higher chance of getting the deal and scenario that you desire.

    In addition, not every home is right for every buyer. Maybe you love country living and want a home in a rural area. Since the buyer pool will be smaller for homes as you get farther away from the city center, competition will decrease creating a more budget friendly buying environment.

    Every family has a different idea of what creates a haven for them. And timing a move according to season sometimes isn't an option. Just know that you have choices and as long as you approach the market with an open mind, there are plenty of ways to get you into the home that you desire at a price that you can afford while obtaining top dollar for your home sale.

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    Give me a call to discuss your personal situation so that I can provide you with your options for buying or selling today. Every situation is different and while today may not be the day...tomorrow could be.