The real estate industry can be trying at times. From residential to commercial selling, every listing hopes to secure a timely and favorable outcome. In fact, most sellers always strive to sell their properties quickly — and for as much money as possible. However, timing is also crucial in listing your home and getting the right offers and prices. According to a new Zillow analysis, homes that are listed toward the end of spring tend to fetch better offers and sales. No truer is this then when it comes to the month of May, which truly and significantly increases a seller’s chance of achieving desired results.
According to recent findings, the best month to put a home on the market is either April or May. This is based on extensive research that covered 25 of the biggest metro markets in nation. In fact, homes that were listed in the first half of May sold nine days faster — and for almost 1% more than average listings. Those in the real estate market that are selling and listing tend to fare better if they are in one of the best U.S markets for home or property sellers.
Why Sell Your Home in May?
From May 1st to the 15th,, the following markets are key areas for selling homes and landing big sales. In fact, these markets have proven time and time again, that the warmer months are ideal for revamping properties and putting them on the market. May is also a great month for home renovation and remodeling ventures, as well as securing more open houses and visitors from near and far. If you live the following markets, regions, or cities — you are sure to sell your home and boost revenue. Similarly, real estate agents should look to these markets as an incentive to boost their own selling and listing of properties across the board:
• New York — Northern New Jersey
• Chicago, IL
• Dallas — Fort Worth, Texas
• Philadelphia, PA
• Seattle, WA
• St. Louis, MO
• Denver, CO
• Portland, OR
• Charlotte, NC
• San Jose, CA
San Francisco and Minneapolis real estate sales also soar — on average — from May 16th to the 31st. One of the main reasons for the April — May real estate boom is simply the weather. In fact, homes on the market tend to be relatively low during the winter and spring months. While shoppers usually look for properties online during those seasons, they tend to wait until the weather is comfortable to review properties up close and personal. This also gives them plenty of time to get their finances in order, along with readying themselves to make timely and accurate offers. Home buyers also seem to look at many homes and real estate listing services during the early part of May as well.
Closing the Deals by May
Most buyers — by May — are also anxious to lock in on rebates and close deals. In fact, many also pay premiums to close deals and are willing to meet most real estate listing offers. One of the main reasons for this is that investors want to get settled into the new home before the next school year. Similarly, couples without children do not want to move during those scorching June, July and August summer months. If you are a seller or real-estate agent looking to generate more leads, offers and revenue –do not let April and May pass you buy. Failure to try and sell during those months can result in less than stellar offers, as well as low ballpark offers in the months ahead.
May real estate listing and sales are particularly notable in the Pacific Northwest. This is due to cooler climates even during the summertime. According to national averages and figures, sellers that listed in the Greater Seattle and Portland areas — during the first half of May — gained the biggest prices boosts in 2016. Numbers are expected to increase by 2.7 percent in May 2017 as well, which further shows how pivotal timing and weather is in selling your homes.
Selling in Warm Weather Regions
For regions with year round warm temperatures, there tends to be very little variation in sales prices. In fact, sellers and investors in these markets have more flexibility when choosing to sell or buy homes. This is one of the main advantages for real-estate agents in Florida, Arizona, and parts of California that are used to warm temperatures year round.
According to Zillow, there are many ways to determine the best times to buy or sell homes. Whether working with real-estate agents, firms, or investors — logic indicates that since April and May are prime seasons for home selling — they are also prime seasons for home buying. This, however, is not etched in stone and there are still ways to make sales and generate income throughout the year. For example: sellers with homes that have lain dormant for many months might opt for short sales. Similarly, buyers may meet premium prices if they are presses for time — and need to move in quickly.
What Does This Mean for Real Estate Businesses?
If you are a real-estate agent, these months are crucial in effectively promoting your brand and services. From home buying to selling, you must be able to tap into the current and burgeoning trends. Similarly, selling during these months — and at the right prices for your clients — will certainly propel you to new heights in this challenging and competitive industry. It will also help you remain competitively viable, while generating more leads, sales and revenue. Whether specializing in residential or commercial real estate – or both — you must stay abreast of all the latest industry trends and developments. This makes your more marketable, employable, and able to offer real-time results for all home investors, buyers and sellers.
Selling at the right time –and at the right prices –will certainly build you real estate business and generate wealth. As an agent or investor, you must stay on top of all real-estate matters in order to secure timely and profitable results.