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Someone else used this phrase in another thread, I think it's perfect!
Wondering when the "magic selling season" is in your neck of the woods. Has it started yet? When it starts, how many listing a day do you start to get (or, how many homes per day start getting bought)?
Also, when does spring rush taper off? If it's smart to wait to make an offer until it's past do you wait for June? August? Or maybe all the way until October?
We are in a highly sought-after suburb so we don't have one season for real estate - all year long is good. But in April-June, houses can sell in a day versus 2-3 days. In the winter, if the house is priced appropriately, a house can sell in a week or two.
In almost all cases, if the house is not priced appropriately, it will not sell. Recently saw this in my own neighborhood - a house listed for $379K, figuring the fact it was a young house (5 years) compared to the rest (20 years) it was worth more than the bigger home several doors down that sold for $338K a few months ago. The $379K home sat on the market for weeks before the sellers finally took it off the market entirely. I don't know what they were thinking listing it at $379K. It's a 4 bed 2.5 bath house of about 2800 sq ft. The only homes in our neighborhood that sell for $379K are the 5 bed 3 bath 3500+ sq homes with finished basements.
That depends on the sellers and the buyers profile.
Family with younger kids? Moving into or out of a family with kids neighborhood?
They'll want to be done it all, the sell the buy and settled in to the new place ...well before school starts.
Their retirement age parents, in retirement age neighborhoods, won't have the same concerns.
Whether buying or selling.
But doing the looking and moving in nicer weather... still counts.
That's less of an issue the farther south you go...
Last edited by MrRational; 03-13-2017 at 08:36 AM..
I've never heard of the phrase - or the concept. Conversely though, Nov-Jan is considered by many to be a risky time to initially offer a house for sale due to buyers being distracted by the holidays. In the area where we just sold (north TX), anything outside that window would be fine. (We listed ours on March 3, had about a dozen showings on the 3rd and 4th, accepted an offer on the 5th)
Also, when does spring rush taper off? If it's smart to wait to make an offer until it's past do you wait for June? August? Or maybe all the way until October?
Where do houses sit that long on the market, if they're priced right?
A lot depends how long it takes to close on a house. In NY, the selling season is pretty much over in May, because it can take 3 months to close and people want to be done by the start of school. We listed our house late April and that was considered LATE. We closed three months to the day after we listed it. Not too bad by NY standards.
Around bases where I've lived most of my adult life, the "Magic Selling Season" corresponds with "PCS Season". A large portion of military changes of assignment happen between June and August due to several reasons: people with families deliberately try for those dates once they get an assignment, and a large number of recruits join during that time frame due to high school and college graduation, so they just naturally cycle that way. These military members, who can make up a significant portion of the buyer pool near a base, usually do house shopping between April and June if they do it before leaving their current base, or they do it after they get to their next base if timing wasn't right to do it before. So near a base, the "Magic Selling Season" is April to August, maybe stretching into September.
Location: Foothills of Maryland Blue Ridge mountains
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[quote=Piney Creek;47490212]Someone else used this phrase in another thread, I think it's perfect!
Wondering when the "magic selling season" is in your neck of the woods. Has it started yet? When it starts, how many listing a day do you start to get (or, how many homes per day start getting bought)?
Also, when does spring rush taper off? If it's smart to wait to make an offer until it's past do you wait for June? August? Or maybe all the way until October?[/QUOTE]
I don't think I'm understanding your question.
In what market are you able to place an offer on a house in October that was listed the previous spring? If it's a nice home, it won't be on the market that long unless the area real estate market is sluggish.
If you've zeroed in on a neighborhood and you like the house, make an offer. Unless you enjoy the drama of losing out on potential homes.
We put our place up in July. Had an accepted offer within a week and closed in October.
The whole school scenario only comes into play with a relocation.
Most of the buying and selling in my former zip was people just moving from one house to another within the same school district and usually as an upgrade for more space or fancier home.
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