As the seasons begin to change, so does the supply and demand of the real estate market. Recent months have shown a slight uptick in inventory and the beginnings of a market shift. However, market trends and shifts aside, there are seasons of real estate that ebb and flow regardless of larger market trends.
SEASONS OF REAL ESTATE
Traditionally, spring and summer are the busiest months in real estate while fall begins to slow leading to winter, the lowest point of the year before spring comes around again. Even when the Seattle market was reaching its peak, seasonal changes still made an impact. Since the Seattle market has been on a crazy climb for approximately two years, we tend to forget that market shifts and seasonal changes are a normal and an expected pattern in real estate.
WHAT TO EXPECT THIS FALL AND WINTER
Typically the beginning of September sees a slight increase in buyers and sellers after the traditional summer slow-down. July is the busiest month of the year, then things begin to fall off in August as people are wrapping up the last of summer vacations and time off. Everything that hasn’t sold in August carries over to September. It is also the final push from sellers grabbing onto the last of hot market time before holidays start. School is starting up again, factoring into a slow-down, as families don’t want to uproot their children during the school year. October and November carry-over the leftovers from the hotter market times and buyers drop off as the hustle and bustle of the holidays starts to pick up.
WINTER SLOW DOWN
November to January is known as one of the best times for buyers. The market is at the slowest it will be all year. Potential buyers are busy with holidays, and Christmas spending leaves many people sewing up their pockets until their budgets recover. As investors, this can be one of the best times for your investment to stand out. Because of the increase in supply, many buyers expect price drops and sellers who are desperate to move inventory. During this time of year, it’s very important to work with your broker, price your home correctly, and wait for the right buyer. As investors, the best outcome is a good deal for the buyer as well as the seller.
February to May is usually a steady incline in buyers and inventory. When the weather starts to turn, people begin spring cleaning, and potential buyers slowly become active buyers. It’s common for sellers to wait until spring to list houses anticipating a larger pool of buyers. Many buyers jump into the spring market trying to beat the rush of summer markets and bidding wars.
Summer is always the busiest time of the year for many factors; kids are out of school, people are willing to take time off for a move, and the weather is much nicer when it comes time to actually move from one place to the next. The past two years have seen record-breaking numbers throughout the summer months in Seattle. While it’s too soon to tell what the market will be heading into summer 2019, the odds are still stacked widely in the seller and investor’s favor.
At Heaton Dainard we firmly believe there is not a bad time of year to sell a house. We have years of successful experience in all seasons and all market conditions. The difference between a successful investment and an unsuccessful one is the quality of your planning and market data. Contact us at any time and we will help you navigate every season of change in the real estate market, we are experts here to help you.