When it comes to buying and selling your home, it’s all about timing! We’ve all heard of the two phrases a “Buyers Market” and a “Sellers Market. The big questions then arise, when do they both take place during the year? How will I know it’s a good time to buy? Or how will I know when it’s a perfect time to sell and get the most for my home?
Also known as a “Cold Market.” This is when there are more properties for sale than buyers. You will see that the prices will drop due to the lack of buyers in this time period. The people that are interested in buying in a cold market will be looking for great deals on homes, and will be looking for homes that offer great discounts. During this time period you can and should make lower offers. It is a great time to purchase a home but if your looking to sell stay away from this time of the year.
This is what is called a “Hot Market.” When there are more buyers than properties listed. You will see rising prices and eager people ready to buy! There is a lot of turning down low offers in this time period because of all the interest. Sellers will choose the highest offer received. This is the absolute perfect time to sell, while the market is hot!
So, When is it The market hot or cold?
Research has shown that more people are interested in purchasing a home when the weather is nice. What better time of the year than the months from July to September to do so. During these months people are very excited to search and see what’s out there, and are very motivated to buy. This is what would be considered a hot market!
Another tactic is to list and try to sell your home before the crazy rush of summertime. In early spring, sellers have found a lot of success listing their homes on the market before everyone else does. Getting your listing on first can make a big impact on the potential buyers that will be looking for a house in the months to come.
You may also try listing your home at the end of summer when everyone who was frantically looking for a home is finally ready to decide. When buyers are ready to make a purchase they review the newly listed homes and are very motivated to make their decision including newly listed properties.
Sellers- wait to list your home when the weather is warm and the market is hot. Your home will be purchased for the price and value it deserves.
Buyers- be prepared to buy a home when the market is cold and listing prices are low. Get as much as you can for your money and don’t be afraid to make low offers.