Posted on
June 15, 2023
by
Kim Porco
As the temperatures rise and the days get longer, the real estate market is now in full swing! Whether you're in the market to buy or sell, here are a few thoughts on how to better prepare yourself to dive into the real estate market this June.
Selling a home in the summer can have many advantages. If you are considering selling your home, be sure to work with a real estate agent who has a proven track record in your local market. With the right strategy and preparation, you can take advantage of the benefits of selling during this busy time of year! Here are just a few to start.
More Buyers: Summer is one of the busiest times of the year for the real estate market, which means there are generally more buyers actively looking for homes. This increased demand can help your home sell more quickly.
Better Weather: The warm and sunny weather of summer makes it an ideal time to show off your home's best features. You can showcase your backyard, garden, and outdoor spaces, which can be a big draw for potential buyers.
School's Out: With school out for summer break, families are often more flexible with their schedules and may have more time to focus on house hunting. This can lead to more interested buyers and faster sales.
More Daylight: Longer days mean more time to showcase your home in natural light, which can make it appear more open and inviting. This can help potential buyers envision themselves living in the space.
Better Timing: Summer is a popular time to move, which means there is often more time for buyers to plan and execute a move before the new school year or before winter weather sets in. This can create a sense of urgency among buyers, which can work in your favor as a seller.
While there are many advantages to selling a home during the summer months, there are also some potential drawbacks to consider.
Increased Competition: With the high demand for homes during the summer, there may be more competition from other sellers. This can lead to more price competition and potentially longer time on the market.
Vacation Season: Many potential buyers may be on vacation during the summer, which could potentially slow down the sales process. Because of our long winters, many do escape to camps/cottages on 'free' weekends. This may change timing and your marketing strategy when listing your home. However, this is a great benefit for those looking to sell recreational/seasonal properties - the more traffic down a private road, the better!
Hot Weather: Hot and humid weather of summer can make it uncomfortable for potential buyers to tour your home, especially without air conditioning! Some buyers struggle to see past additional moisture and humidity in some homes, it could distract from other aspects of the home and shorten showing times. On the flip side, depending on what type of property you are selling, this could be a benefit. No one will turn down a chance to spend time at a beautiful waterfront property on a warm, sunny day!
Higher Moving Costs: Summer is a popular time for moving, which can lead to higher costs for moving services and other related expenses. Planning ahead as much as possible will help hedge additional costs and stress.
While the summer can be a great time to sell your home, it's important to be aware of these potential hurdles and plan accordingly. By working with a real estate agent who you trust to work in your best interest, you can develop a strategy to address these challenges and take advantage of the opportunities that come with selling your home during this busy season.
