The season is now beginning again.
Barry M Salottolo
Licensed Real Estate Broker
Manhattan, Westchester, Connecticut
"Whatever you're thinking and feeling today
is creating your future"
Hi Briana, The challenging winter weather- absolutely the best buyers of the year. Those buyers are the ones that have to find something and therefore are out -no matter what. Spring brings along many " lookers" and eventually a buyer. Come March-April more sellers are on the market making your competition much greater. My opinion Terry K 718-614-3167 or email TKorahais@elliman.com
Keep in mind that buyers exist year round, therefore if you are ready to sell, and need to sell, no reason not to consider the idea now....
Hi, there are always buyers out. they seem to go in waves, the buyers that want to be in for the new school year and those that want in before the holidays. I would say the busiest time is the spring, which holds true for most areas. I have shown pleanty of homes in the snow but feel the mortgage rates and economy play a big factor in this as well. This winter rates have lingered just below 4% which is amazing, so Ive seen alot more activity. I also think buyers are tired of waiting it out and want to make a move.
Licensed Associate Broker
Accredited Buyer Representative
I love keeping my sellers on the market during winter for a couple of reasons:
1) buyers out in bad weather are serious about buying...soon
2) there are not as many sellers on the market, limiting competition and helping to keep the price higher.
During the winter buyers and sellers are much more serious. Pricing and intent is much more realistic because buyers and sellers don't want to waste time especially during the holidays season and ubber-cold weather. Competition is then less stiff for everyone around. The flipside of this is, that there is typically less inventory on the market.
During the Spring when the sales cycle starts to begin, you will see much more sales activity from buyers and sellers along with more inventory. But in return you will see many sellers pricing their properties higher due to more competition and owners wanting to test the market.
The best time to buy will really depend on your needs and when you can move. For instance, if you have children, you may want to move during the summer months and make sure that they are in place for the start of the school season. You will need to assess your own timetable and what works for you.
Personally, I love moving during the winter because of the seriousness of the people who are looking in the market. I find, that there is usually more flexibility during those months because the other party is willing to negotiate a bit more because they too, want to make it happen. But for some people moving during the winter is impossible.
Again, you will have to assess your priorities and schedule for the best time to make your move.
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Part of the answer here depends on the type of property being sold. For example families take into account the school year and plan their search accordingly. These days, it seems that the market has a mind of it's own, and seems to occur in waves as others have suggested
That is a great question. I can't speak for all of NYS, but I can speak for NYC. There isn't really a "best time" for selling a property. People need to buy and people need to sell at all times of the year for all sorts of reasons, but particularly for the big ones - birth, death, divorce, job relocation, etc. More properties do come on the market in the Spring, but then those properties have more competition - each other. Here in NYC, investors invest all times of the year, and people are always moving here for career reasons. Or, people may get to the threshhold of having enough of a downpayment, or a lease is nearing the end and they want to buy rather than renew. Those reasons are not seasonal.
Hope that helps.
Halstead Property, LLC
http://jenetlevy.halstead.com for all NYC listings
A study was recently reported that provides some answers to this question, and the findings are consistent with my experience, as a real estate licensee and as an investor. My blog includes a link to a New York Times article (just follow the link below).
Real estate is a seasonal business everywhere. The worst month to list is October, according to the study and I agree, and surely September is right there with October. The problem is upcoming holidays, work and school demands, and potentially weather. People looking in November and December often must move immediately, so those months are better than October tends to be.
Contrary to expectations, January-February-March can be great, because the buyers who are out are serious, and the inventory of properties is lowest. The study found that winter is the one of the best times to list for a seller.
Serious buyers are on their computers every day, however.
So the most important thing--far more important than which month you list-- is to choose an outstanding real estate professional who will market your property like crazy, and who is a great negotiator. Make sure you choose an agent who takes the time and spends the money to do the job right, and your property can sell well anytime.
Licensed Real Estate Salesperson
Charles Rutenberg LLC
212 688 1000 x146
Here in Somerset County NJ the market is heating up - the Spring Market has begun and both buyer activity and listings are increasing.
In any 12 month period, the Spring Market is considered the strongest. Many think it begins after Super Bowl Sunday - so you are there and I would recommend you get your home on the market if you want to sell it this year.
The slowest times are generally summer and Nov through the end of the year, in both cases people's focus has shifted, to either summer or holiday activities.
Good luck to you,
Unwavering Commitment to Service, Unsurpassed Results
You know it just depends..... As a home seller, if winter is a slow time, then remember you are also competing with less listings, i.e. other sellers who want to sell, do you have less buyers looking may be.... but having less
competition is really not a bad thing and who is looking in the low periods of the seasons is really interested in buying or needs to buy. Another little advantage. Put your home on the market at the right price, in the best possible showing condition and you will be fine.
Take care and all the best to you.
Edith YourRealtor4Life! and Chicago and Northern Illinois / Nort!rs, Sellers and Investors alike
Edith always goes the X-tra Mile with a Smile for all her clients
Thank you for your referrals and your repeat business
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I'd say things pick up after the "Consuming" Holidays which means right after Valentine's Day.. Hey what better motivation to buy a home than having your beloved's love reaffirmed! Think nesting... (Same goes for the end of the summer when the urge to hibernate kicks in) We are all but animals with larger brains, driven by instinct!
Licensed Real Estate Broker & Brokerage
"The Upper West Side's Buyer Broker"
Columbus Avenue, New York, NY 10023
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The best time to sell is NOW especially if you are in NY State. Since third quarter 2010 there has been restriction on a banks ability to foreclose on properties. That restriction on will be lifted any day now (waiting for Obama's announcement) and when that happens there will be a surplus of homes for sale, prices will soften further as traditional listings try to compete with the lower priced foreclosures. So don't wait put your house on the market now. The foreclosure release will impact the entire country but NY state in particular where the average foreclosure rate has slowed down to 50+ months for now. That's all going to change. The shadow inventory (foreclosures) are coming.
The snow season does not affect New Yorkers when it come to finding a new home. The busiest selling seasons are Sept - Dec and Feb - May.
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