As May, June and July pass us we tend to think Summer season is over. However, August is definitely still summer! It’s often one of the hottest months of the year and can be a bustling time in the real estate market. Here’s how summer, particularly August, impacts real estate:
For buyers, August can be a time for high activity. Many families aim to move before the new school year starts, so the market can be quite active. This means more options but also more competition. The market conditions may change. You might see more listings and potentially higher prices due to increased demand. Sellers are often looking to close before the summer ends. Also, due to summer coming to an end homes often look their best in the summer, with gardens in full bloom and outdoor spaces at their peak, which can make properties more appealing.
For sellers, homes often get more showings and attention in the summer, thanks to longer daylight hours and generally favorable weather. You might face more competition from other sellers, but you also have the advantage of a larger pool of buyers who are actively looking. If you're not able to sell in August, be ready for a shift in the market as summer winds down and fall approaches. Homes that linger on the market into the fall might need adjustments in pricing or presentation.
Some tips for buyers in August would be things like staying organized and being prepared to make quick decisions. Consider getting pre - approved for a mortgage to strengthen your offer. Some tips for sellers would be to ensure your home is in tip top shape inside and out. Consider staging your home to highlight its summer appeal.
Overall, whether your buying or selling, the summer market can be dynamic and completive so it is very important to stay informed and responsive to the changes.
