Did you know that there are “seasons” to the real estate market? We have cycles, just like teachers have summer vacations, coaches have seasons, and CPAs have tax crunch! Real estate activity goes up and down throughout the year with weather, holidays, school, job transfers, and so many other factors.
Check out this chart from MRIS for pending home sales by month from 2005 – present
You can see the peak real estate season is the spring – April, May & June. Activity usually begins to die shortly after Memorial Day and doesn’t pick up up again until Labor Day weekend in September. We see another spike in activity in September & October and then things slow down again as we get into Thanksgiving and the Winter Holidays.
What this means to you:
Buyers looking at properties during the summer are usually more motivated to buy something due to impending deadlines – beginning of school, job transfer, college graduation, etc. For sellers, this means fewer competitors since fewer new properties appear for sale.
If you’re thinking about selling, let’s talk now before we get into the middle of Summer! Find out what your home is worth.
If you’re thinking of buying, search homes for sale in Arlington or other parts of Virginia, D.C., and Maryland!