First Peak Season: Spring blooms "For Sale" signs
Selling your home? The biggest house selling season begins in late January and ends in early March. What makes it such a hot season? Families with children want to get their purchase or sale out of the way by late spring so that moving won't disrupt the kid's school schedule. Other people want to get it done early on in the year for tax purposes or to avoid interference with their summer vacation.
With all of these buyers hot on the trot, it is no wonder that spring is the best time to put your house on the market. High sale prices result from spirited buyer competition. If you intend to buy another home after yours is sold, this time period has the best selection of homes to purchase.
Buying a home? - The selection during spring is booming, but so is the competition. If you are a bargain shopper, you may have to look a little harder & longer during spring, but don't be discouraged. There are so many houses on the market that there is bound to be the perfect one to fit into your budget.
First Valley: Summer- Fun in the sun... not in the house.
Selling your home? June, July and August - burnt out on summer sun. People that bought homes in the Spring are moving during the summer. Everyone else is either on summer vacation or out enjoying the summer sun. Why be indoors when you can play outside? This is not the best season to put your home on the market - although it is not the worst either. Houses usually take somewhat longer to sell due to a lower level of buying activity.
Buying a home? - If you're selling your house to buy another one, keep in mind that summer is your first opportunity to go bargain shopping. Summer is a good time to find motivated sellers who bought a new home and must sell their old one fast. Less property is available, but there is still plenty on the market.
Second Peak - Fall for motivated sellers
Selling your home? Selling in the Fall can be extremely risky. If you overprice your house, it won't sell. However, if you need to sell during this season then just monitor buyer response. If response is low, be prepared to reduce your price. If you are a bit of a gambler, this season can work out for the best. It is the best time to sell high and buy low.
Buying a home? People who sell during the fall tend to be in a rush to sell. Some bought new homes in the spring before selling their old ones. They slash their prices- finally getting realistic after wasting months of trying to sell at an overpriced amount.
Many people want to sell during this season and buy a new home in December so that they can pay tax deductible expenses to reduce federal and state income taxes. These people are under a lot of pressure to sell.
Death Valley - No house selling jingles this winter.
Selling your home? Winter is the worst season to sell. People stop buying houses and start buying gifts. The kids are out of school and the relatives are visiting - who has time to think about buying... or selling for that matter.
If you have to sell during this season, be prepared for bargain hunting vultures.
Buying a home? This season is not conducive to a great selection. Unless you are a severe bargain hunter with a lot of patience, we don't suggest shopping during this time of year.