Real Estate markets fluctuate throughout the seasons and month to month. There are times that work better for selling your home more quickly or to get a better advantage when it comes to buying a home. These differ across the states, but there are some trends that can be seen which could help you decide when will be the best time for you to sell or buy. According to a recent article in the San Jose Mercury Times, research conducted by FindTheHome shows some of the most advantageous trends for Residential Real Estate sales.
On an annual basis some months are better for sellers and some for buyers. Spring and early summer months tend to be the best time to sell your home quickly, with June being shown not only a great month to sell, but one in which you are more likely to get a higher price. Winter tends to be the best time to buy a house as prices are typically lower during the colder months. The exception here is December where for many states there is on average an increase in pricing for the month.
According to the data shown within the article, on a state by state level, California’s best month to sell is in April, as the average days on the market for homes sold in that month have been reported at 40 days and even shorter in the Silicon Valley. If you missed the hottest months, don’t worry, your next best months to sell would be mid Sept and October, right before the holiday season starts. California is also one of the states with the lowest average days on market, showing our homes are in greater demand.
For buyers, one key statistic shown in the article was toward the maximum savings that could be achieved by buying a home at the optimum time. Home buyers were able to save on average as much as $53,000 when purchasing a home in the winter months. This was culled from 2014 data, and while no one can guarantee how much you may save buying a home in the colder seasons, historical data shows you do have a better chance to do so.
Whether you are ready to buy or sell, pay attention to the season before you begin the process. It may be worth the wait for the best time of year, so you have a higher chance for a better advantage that you can be happy with. We at Haylen Group are here to help you with all of your real estate needs! If you are unsure what your options are, call Helen Chong at (408) 800-LIST or email at Helen@HaylenGroup.com. You can also visit us at our website for available listings and additional information.