Anyone who has ever dipped a toe into the real estate market knows that timing is everything. True as ever, as the weather heats up outside, so too does the housing market as buyers and sellers become eager for a change of pace. Here are just some of the reasons why houses sell faster during the summer months.
1. Longer Days Mean More Time for Showings
Summer has the best weather and the longest days of the year, which quite simply makes it easier for real estate agents to show the home to more potential buyers. More opportunities to get a home for sale in front of people means a much better chance that it will sell that much faster.
2. Warmer Days Bring Out More Buyers
After spring brings the bloom of flowers and tells the blue sky to come back home, buyers start to get antsy and champing at the bit to start closing on a new home so that they can get settled before the fall season. That's especially true in university areas; some faculty members might relocate before the next academic year. Even in real estate areas where the weather is more consistent, homebuyers tend to disappear around the winter.
3. Curb Appeal Is at Its Best and Brightest
First impressions always matter, even when we aren't talking about real estate. That said, curb appeal adds considerable value to a home; it inspires and motivates buyers to act fast and possibly even outbid others.
In the summer, homes look their absolute best; gardens are in full bloom, lawns have returned, and natural light reveals all the hidden features of the building's architecture. Green lawns with blooming flowers and shrubbery will look more appealing to prospective buyers than a dormant lawn with snow or mud.
4. More Homes With Better Deals
Every summer, the numbers show that more homes enter the market than they will for the rest of the year. Buyers have the ability to wait for a property that is more likely to satisfy their long-term needs compared to other seasons.
5. Less Competition Among Sellers
Spring is the peak season for sellers to list their homes, though it tends to slow down as summer comes in and buyers start to snatch up available properties. Of course, without this competition, that means that someone who opts to list their home in the summer is more likely to sell it that much more quickly.
6. Potential Tax Benefits and Financial Planning
It's not unusual for a buyer to aim to close on a house before the end of summer to take advantage of certain tax benefits. Likewise, many homebuyers may also receive a mid-year bonus that empowers them to make a deposit on a new home and financially prepare for such a significant purchase.
The busy summer season creates ample opportunities for both buyers and sellers to work with real estate agents to find their new home as quickly as possible. Leveraging this knowledge maximizes your chance of finding the best deal. Use the above information to prove to yourself that summer is the best time to buy a new house.