While you might not realize it, there is an ideal time to buy and sell real estate. You might have heard the phrase that when the weather cools, so does the real estate market. This does not necessarily apply to the Valley Of The Sun. The season you chose to sell your home can have a huge effect on the price you get for your property — in some cases, it can affect It up to 10 percent.
If you’re looking to buy a home, because of supply and demand, you might have better luck on the “off” seasons where, granted, there is less inventory, but there is also less competition in terms of other buyers. Don’t let the notion of buying in the offseason keep you from looking! By choosing a different time to buy, when everyone else is not buying, you can find the house of your dreams and save money in the long run too.
Understanding how seasonality works in our market can help you get the most money for your home. If you’re a seller, selling your home in peak market is likely to bring more buyers and potentially more money. Meanwhile, buying a home in the off market can save you money and hassle. With the holidays around November and December, the Phoenix real estate market also tends to slow down as people are traveling and focusing on families.
But the best time to buy and sell your home in the Valley is in the cooler months of January and February into late Spring. These months often see an influx of people coming in to town from other regions. These people are often relocating or looking for a second homes. With the temperatures more bearable, it’s a great time to be out and about looking for homes. During these months, the average temperature in Phoenix is around the mid to low 70s!
On the other hand, cities on the East Coast are often busiest during the Spring and Fall. In September, the housing market begins to gradually decline, with February being the least busy month of the year for real estate. The National Association of Realtors reports every month home sales for the previous month, showing that in February, sales drop 7 percent.
Currently, Phoenix is seeing a very active market, with homes priced under $500K moving quickly all year round as interest rates are low and we are still growing.
If you are looking to buy or sell, contact us. We provide advice on the best time to sell. With an expert opinion, you’re much more likely to get the dream home you’ve been looking for.
Scottsdale Market Stats
Information is deemed to be reliable, but is not guaranteed. © 2019