Most people and realtors are aware that the spring and summer months are considered the “high season” for real estate sales. In most areas of the country, sales peak in April and May and remain brisk well into the summer months. The scenario isn’t much different anywhere in the country. Warm weather, summer vacation and income tax refunds combine to make spring and summer a great time for buyers and sellers to make their moves.
What about the winter months? Do sales take a significant dip in the “off season?” According to statistics from the Association of Realtors, the answer is yes – but not by much.
Buyers can benefit from lower prices, less competition, motivated sellers, favorable mortgage terms, and the possibility of taking a tax deduction for interest paid on closings that take place before the end of the year.
Sellers can also benefit during the winter months. Less competition from other sellers, fewer but more serious local buyers, an influx of snowbirds, and lower interest rates often combine to bring about an impressive number of successful sales.
So, does it really matter whether you buy or sell during the “on” or “off” seasons? Not really. Real estate sale enjoys a steady stream of buyers and sellers year-round.
I’ll have the skinny on this year’s year-to-date sales production and price trends in this column next week, so stay tuned.
Until then, I hope to see you at closing!
ABOUT THE AUTHOR: Rachel is a professional digital marketing expert, real estate aficionado with a lot of knowledge in the area of marketing, SEO, Social Media. Her company, SEO Babe, offers online digital marketing consultation, SEO plans, web design, and related services.