real estate advice

One question that is often presented to our team is, "When does the spring market begin?" To answer that question, we should first explain why people are curious about the spring market vs. the summer or fall. Typically, the spring market produces the highest sales prices of the year and the greatest level of buyer activity compared to summer and fall. As warm weather approaches, the local inventory of homes is coming off its annual lows from December and January. Many sellers prefer to not have their homes on the market over the holidays and while winter weather can be less cooperative. At the same time, the coming warmer months bring the buyer community out in full force. Buyers are eager to secure their new home before they have to compete with the mass of other hungry buyers. Making an offer on a home in early spring allows for many families to close towards the end of the school year and spend the summer getting settled before the following school year begins. This makes the perfect scenario for sellers: low inventory, which means less competition and high demand for homes. Selling a home is no different than selling something else; when demand is high and supply is low, prices rise.