We often hear the terms “Spring or Fall Market” in real estate. These terms typically reference fruitful times. Homes are selling quickly at best prices, and tons more inventory will be certain to come down the pipeline.
Are these terms and references actually true?
In our experience, yes. They are in fact true. To a certain degree. Although the spring market will not suddenly plummet as spring fades into summer. Just as the market will not instantly freeze the moment the clocks turn back in the fall. We have seen many years where the heat wave has lasted a full year before even slowing down to a steady pace smack dab in the middle of a snow storm!
Although weather and annual changes such as new school years can be a driving force. They certainly are not the “be all, end all” for real estate market predictions.
Some other “seasonal” estimations on the real estate market are:
The Spring Market Starts in the Spring. When the Snow Melts and the Birds Sing!
NOPE! If you have waiting until that time to list your home then you are certain to be listed along side everyone else who thought the same thing. We always tell our seller clients that the spring real estate market in fact begins when the ground is the most frozen and the sky is the dreariest of all. In February. Just at the end of the holiday debt hang overs and right before you have a ton of other eager sellers to compete with. For buyer clients, there really isn’t a bad time to buy at all in our opinion. Provided you use a Realtor and get the proper advice and not over pay. You are good to go any time, any season. It may just take some time, or happen faster then you planned. That’s all.
Wait Until December to Buy Because the Sellers Will Be Desperate!
WRONG! A sellers desperation is not typically seasonally related. They have their home listed in December, and provided they have sought proper guidance and a accurately priced, they know what month it is and have likely been listed only a few days to a week. Assuming it’s not December 23rd… but you get the idea. If you do run into a case where the home is “still” listed in December, that’s a case of poor pricing, marketing or any number of circumstances that have absolutely nothing to do with the time of year or the weather.
Some true things about the seasons and real estate? Just like anything else, people ARE happier in warmer months. Homes do look better with a pretty garden or when the pool is open. Walking through beautiful homes with a cosy fireplace and Christmas tree is MAGICAL.
Seasonal real estate does exist. But it may not be exactly what you think or hear.
Want to learn more about how the seasons affect the real estate market in London Ontario?