A question I get asked often is when is the best time to buy or sell a home? The answer varies for everyone depending on what you’re looking for in your next home, but traditionally speaking the Spring is usually one of the hottest seasons for the real estate industry. There are a lot of factors that go into the decision to buy or sell a home, and time of year can be one of the most important factors based on your needs.
For families, the spring and summer months are traditionally the best time of the year to move due to the traditional school calendar. Traditionally schools release for summer break somewhere between the end of May and go back in session during the middle of August. Families tend to want to make their moves during these months to limit the disruptions to a child’s school year.
The spring also marks one of the best times to move because of the change in temperature and tendency to “spring clean” as the seasons change from colder, shorter days to longer, warmer ones. It’s also important to take into account that the weather tends to be a bit more favorable in the spring compared to blistering cold days in the winter or scorchers in the middle of the summer.
All of this may be self-explanatory, but what’s important to note is just when our local market here in the Carolinas really starts heating up. Although we traditionally think of the spring starting in April or May, the real estate market tends to start a little bit earlier for us. Thanks to our temperate climate and overall desirability of the area our season here tends to start closer to mid February than April or May. This year the market seems to be getting hotter long before the temperature does.
Already this year, and we’re not even a month in, the real estate market is getting hotter by the day. Home inventory levels are down considerably from this time last year, and even more so when compared to listing counts during the middle of the summer last year. With interest rates coming down buyers are returning to the market rapidly trying to snatch up a deal with expectations of rates coming down by the end of the year.
Consumer confidence and scarcity is also pushing the demand for us here locally. The Carolinas, and more specifically the Charlotte region, has been voted one of the hottest areas and most desirable places to move to in 2024. Combine this with historically low listing counts and we’re already beginning to see signs of a very busy season.
WAYS TO GET AHEAD
If you want to get ahead of the competition now is the time to prepare. If you’re a seller, getting your home prepared for photos and showings is your first step. Second steps are decluttering your living spaces and minimizing around the house to help simplifying the moving process. For buyers, getting a pre-approval letter from a qualified lender and setting money aside for a down payment is essential. This way you’re already prepared for when the right house comes along and you know your budget and anticipated expenses. Even if you don’t end up purchasing right away, these preparations will make you stand out to a seller.
The time is now to prepare to make your real estate dreams come true in 2024! Contact our team today to learn how we make your move as easy and stress free as possible. 980-250-2795