Happy September! Happy Labor Day! We hope you enjoy the long weekend ahead and have some well-deserved relaxation. In the real estate world, we are now past the peak buying and selling season. September and October are when we regroup and prepare for the end of the year market.
Each season is unique, and comes with its own challenges and opportunities. After August, the buyer demographic changes to fewer families with school-age children (they’ve already bought). Often at this time, buyers emerge that enjoy less competition from other buyers. Investors buy all-year round so that does not change. Some sellers also appear at this time. You may ask, what possible advantage could be had by putting a home on the market past peak season? One is that we have more clear market intelligence. Homes continue to sell even in the slow season. The potential advantage, I advise sellers, is that we can study the market comps from the peak season and see what has been achieved. Within the most recent 6-months, the highest sales in the neighborhood is a good indication of the price ceiling in the slower season. For example, if no similar home has achieved a certain price point during the peak season, it is unlikely for that price point to be achieved in the slower season. This can help sellers make the most informed decisions.
2017 has been an interesting year. As the market reaches maturity, we see different forces push and pull to shape the sales. Some feel the prices may continue to increase, others fear a correction may be coming. We have listed homes from investors who are taking profit and exiting the market this year, and see the buyers of those properties being other investors looking to enter the market. Each person’s perspective, reasons, and needs are unique. Share your real estate goals with us, and we are happy to brainstorm with you on potential options.
Please continue to send your real estate questions to us. We will answer each personally.
If you need to buy or sell a home, definitely reach out to us. We have so much to share with you. We are bombarded with market information every day. As a team, we digest these information together and discuss how we may use these information for the benefit of our customers. We are honored when you entrust your real estate needs to us and we do not take that privilege lightly.