Impact of Seasonal Trends on Real Estate
Did you know that as the seasons change, the real estate market does too? If you are buying or selling, you should always pay attention to the season you are in since there is typically a pattern to the real estate market based on the time of the year. This is a great way to find a strategic edge in achieving your real estate goals. As an experienced real estate agent, I am here to help you manage the real estate market and provide insight on how to navigate it during all times of the year.
Spring – A Blooming Market
During the spring, you will see a larger selection of homes to choose from, which is great as a buyer, but it can lead to an increase in competition since demand is typically higher during this time. Buyers are more likely to tour homes since the weather is nicer and the days are longer. Curb appeal is also at its best during the springtime which is an added plus for sellers. This is why springtime is known for being a blooming time in the real estate market.
Summer – The Summer Peak
Summer is a common time for people to move around, especially families that have school-aged kids. People typically have more free time during the summer, so they are more likely to house hunt and shop around. This will give families ample time to shop around, purchase, and settle in. This is a great time for sellers, too, since you can showcase the outdoor amenities your home and neighborhood has. If you have the flexibility, summer can be a great time to list or buy.
Fall: A Shifting Market
As the weather cools, so does the market, just a bit! The market takes a shift, again. This makes fall a great time for buyers to find better prices that can work with their budget. If a seller missed the spring and summer rush, sellers may aim to get an offer before the holidays. This means that buyers may have some room to negotiate compared to other seasons. Just because it is not the spring or summer, it does not mean that you should avoid buying or selling during this time.
Winter: The Quiet Season
The real estate market during the winter months slows down quite a bit. This can be due to the cold weather and holiday events. As a buyer, you may have a smaller list of options, but you may face less competition which means more room for negotiations with sellers that want to get an offer before the end of the year. As a seller, you may face less competition in the market.
When you understand the seasonal trends of the real estate market, you will be well prepared to face the market when trying to buy or sell. Each season has its own advantages and setbacks, but working with a real estate agent can help guide you through the uncertainty of the real estate market. Try your hardest to be prepared and keep an open mind during your real estate journey.
We hope that this blog post has provided valuable insights on how to navigate the market during the different seasons in real estate. If you would like an agent on your side in the CSRA, contact our team today!
The Bradley Sikes Group
Meybohm Real Estate