From pool parties and beach trips to barbecues and outside games, there’s plenty to love about summer. Of course, temperatures aren’t the only thing heating up during the summer months. The real estate season is typically red hot as well. Undoubtedly, summer is a popular time to buy and sell a house. From Memorial Day to Labor Day, Realtors keep plenty busy in most areas of the country (as do movers). Thinking about selling a house during the summer? Here are the pros and cons to listing your home during this popular real estate season.
The pros of selling a house during the summer
Here are some pros for selling a house during the summer.
You’ll have plenty of showings
Longer days and more daylight means more time for real estate showings. If you choose to put your home on the market during the summertime, you’ll most certainly have more showings than if you put the home on the market in the dead of winter. House hunters are spending more time outside their own home and are much more likely to attend an open house as well.
Buyers are motivated during the summer
There’s usually more urgency for house hunters to find the right house in the summer. Buyers may have missed out on a house during the spring months and may want to close on something before the school year begins in the fall. In addition, most buyers want to lock something up before the winter holidays. With more homes on the market during the summer, you can expect to see more buyers.
It’s a convenient time to move
Most moves take place between Memorial Day and Labor Day. The reason for this? For one, it’s a very convenient time to move for families with school-age children. Not having to plan around school days, homework and after-school activities makes moving to a new home a much easier process. Another reason why summer is an especially convenient time for buyers to move is that the weather is fairly predictable. Spontaneous spring showers, winter storms and cold fall days won’t be an issue during the summer.
The house shows well
With most house hunters drawn to “light and bright” homes, you can bet that your property will show its best during those sunny summer months. In addition, summertime also typically means the grass is green, the pool is sparkling and the foliage is in full bloom. If your home has never looked better, then it’s time to list.
It could be an easy time to buy another home
Need to purchase a new home? If you’re looking to buy and sell at the same time, summer is an ideal time to do both. Not only are there more buyers (which means possibly more offers), but there’s also likely to be a multitude of homes for sale that suit your needs. Those looking to make a seamless real estate transaction will increase their chances of doing so by listing in the summer.
The cons of selling a house during the summer
Here are a few cons you may have to deal with when selling a house during the summer.
The market is saturated with competition
Get ready to see an influx of “For Sale” signs this season. Given that summer is an especially convenient time to list a home and move, you can bet there will be plenty of competition. Oftentimes, the housing market is saturated with listings, making it especially important for sellers to make their house stand out from the competition. From cleaning and repainting to staging and decluttering, here are several things you can do to make your home stand out.
Selling obligations may interrupt last minute vacations
From beach trips to overseas travel, summertime seems to be when most people decide to take a much-needed vacation. Unfortunately, if you plan to sell your house, this could interfere with your travel plans. Those doing a For Sale By Owner will need to be home for showings and other selling logistics. You’ll also need to spend a substantial amount of time cleaning and prepping the house before it hits the market.
It’s harder to show the house when kids are home
School might be out for summer, but that’s only going to make it harder to show your home to potential buyers. Not only will you have to pick up the house on a regular basis, but you’ll also have to figure out a place for your kids to go when house hunters are looking at your home. Word of advice: if you do sell during the summer, arrange for the kids to go to a daycamp or playdate during home showings.
Moving during summer heat isn’t easy
Don’t forget about the summer heat! Moving heavy boxes and furniture when it’s hot and humid outside is downright miserable. Make sure you’re prepared with plenty of bottled water, portable fans and sunscreen. For more tips on moving during the summer heat, check here.
You’ll have to deal with buyers who aren’t as serious
While summertime brings more buyers to the table, not all of them are necessarily serious. Some house hunters want to look at everything on the market, simply because they can. This means wasted hours prepping your place for showings for buyers who may not even be serious. One way to avoid this conundrum: make sure your Realtor vets the buyers for pre-approval letters prior to showing them the home.