Posted: November 20, 2018 | Updated: May 23, 2019
Best Time to Buy and Sell Your Home
When buying or selling a house in Austin, one of the things you might be looking at is the best time to spend going through listings. Now spring is known to be as the hottest time in real estate. For buyers and sellers be aware of the competition since there are more homes that are being listed during this season. There are also some pros and cons to weigh when it comes to purchasing your new home or selling one within the said season.
Buyers might be missing out some of the newly listed homes as spring ends. Notice that there’s already a problem for both parties in the season.
Before putting their home up in the market, sellers spend about an average of SEVEN months thinking about home improvement before placing their homes on sale. This includes renovating a part in their homes, organizing, decluttering, adding some changes in their property that can increase their ROI.
There’s a stigma in real estate that fall and winter are not one of the best times to buy and sell. November throughout February shows that it is the slowest month in real estate due to the colder temperature and holidays within those months.
Good news though, compared to the regions found in the North of the US, the problem of seasonality does not really affect us that much. Forbes Real Estate Council dubbed Austin as one of the booming real estate markets in the year 2018. It was said due to the low cost of living, an enviable quality of life, and an educated workforce. Just a quick fact, did you know that even commercial real estate is also on fire in Austin?
The market in Austin, as in most areas, is subject to seasonality as well as the pitfalls and advantages that come along with those changes in supply/demand. Right now is typically the time of year when I go into listing appointments and tell sellers, "If you don't have to sell right now, wait until January to list your home". I also advise buyers, "If you have the opportunity to buy right now, then you should try to purchase your home during the last quarter of the year".
It makes sense when you think about it. People are already starting to get bogged down with holiday preparation and travel. It begins around Halloween then moves through Thanksgiving then on to Christmas. The graph below (an average of sales data from 2008-2014) shows the number of pending home sales and the average sold price in Austin during different months of the year. You will see that both the number of pending sales and price go dramatically down starting in July and continue to drop heavily each month after that. They begin to spike up again in January, peaking in the middle of May. Contrary to popular belief, January, February, March, and April are the best months to list your home for sale. By contrast, the best time to buy (taking price into account) is the last quarter of the year.
If you look at the next graph (again, from data collected from sales that occurred 2008-2014) you'll see that the largest number of pending properties have historically occurred in the middle of April and declined each month after until the end of the year. This tells us that the best time to list your home starts in January and just gets better and better each month until April. Summer is still a good time to sell, just not as good as the preceding months.
Finding the Right Agent
Back to the reality of finding the best time to buy and sell your homes, whether it is spring, summer, fall, or winter, it is still a good market specifically here in Austin.
The best solution is to find an effective real estate agent or agency that will motivate and guide you throughout the process whatever season it may be. Of course, we can’t really avoid the cons of selling in seasons that typically not good, but when you have an agent that will drive you and uncover your goals--you’re in good hands.
From the video Seasonality of the Real Estate Market featuring our Realtor John McCarthy, our Broker Associate Sunny Tracey stated that if you're in a situation wherein you have to sell your house right now, choose the best agent to help you do that with the best marketing, best experience, and strategies.
If you're in a situation wherein you have to sell your house right now, choose the best agent to help you do that with the best marketing, best experience, and strategies.
And yes, we totally agree with that. Experienced agents with great marketing strategies will definitely lessen your worries when you are having to sell your house any time of the year. There area real estate agencies that have expanded their services from traditional marketing to going digital.
Either of the two works, but in today’s time where digital marketing is on the rise, you might want to look for an agent that exposes themselves into the latest real estate market trends to assist you when it comes to selling your home.
If you are buying or selling your property, pick the best agency, agent, or realtor that will help you effectively market or sell your home in the best price any time of the year.
Talk to the right agent or realtor will help you effectively market or sell your home in the best price any time of the year.
Guys, I am going to keep it short this month, but the point is this: If you are thinking about making a move and you want to devise a strategic plan for buying at the best time and selling at the best time, HIT THE REPLY BUTTON on this email right now and let's set up an appointment. I will share exactly how we counsel our clients on timing this properly so as to save you the most money on each leg of the transaction.
Last month we sent out a massive email that detailed the economic forecast for the next couple of years in Austin and Central Texas. Call us at (512) 298-5668 if you'd like to review that report!