As we reach the height of summer, the real estate market remains vibrant and active. July 21st is an ideal time to take stock of the current market trends and adjust your strategies, whether you are buying or selling. Today we will explore what you can expect in the real estate market around this time and offer tips to make the most of the season.
1. MARKET SNAPSHOT: The real estate market typically maintains high levels in mid-summer. Families often aim to finalize transactions before the new school year begins, leading to a dynamic market environment. While more homes are usually listed in early summer, mid-summer can see fluctuations in inventory. It’s essential to stay updated on new listings and market changes.
2. TIPS FOR BUYERS: Keep a close eye on new listings and be prepared to act quickly. Homes can move fast in this market. If possible, be flexible with your criteria. Slight adjustments can open up more options and increase your chances of finding the perfect home. Ensure your mortgage pre-approval is up-to-date. This demonstrates to sellers that you are a serious and capable buyer. Stick to your budget and consider all associated costs, including closing costs, moving expenses, and potential repairs.
3. TIPS FOR SELLERS: Make the most of your outdoor spaces. Well-maintained gardens, patios, and pools can be significant selling points in the summer. Ensure your air conditioning and cooling systems are in excellent working order. Buyers will appreciate a cool, comfortable home. High-quality photos can make a substantial difference in attracting potential buyers. Consider twilight photos to showcase your home’s exterior in the evening light. Offer virtual tours to provide a comprehensive view of your home. This can be particularly appealing to out-of-town buyers or those with busy schedules.
4. SEASONAL CONSIDERATIONS: Many buyers aim to move before the new school year starts, creating urgency in the market. Use this to your advantage if you are selling. Be aware that some potential buyers might be on vacation, leading to occasional slow periods. Stay patient and persistent. Perform seasonal maintenance checks, such as ensuring your lawn is green and healthy, and that any summer-related wear and tear is addressed promptly. Handle minor repairs that could turn off potential buyers, such as fixing leaky faucets or squeaky doors.
July 21st marks a pivotal point in the summer real estate market. By staying proactive, maintaining flexibility, and focusing on key features, both buyers and sellers can navigate this dynamic time effectively. Whether you are looking to purchase a new home or sell your current property, understanding the market trends and adjusting your strategies accordingly will help you achieve your real estate goals.
Enjoy the rest of your summer!