Does the Market Really Take a Snooze in the Summer?
June 24, 2008
It's a common perception that the real estate market takes a siesta during the summer months of July, August, and September. There's good reason for this belief, too. Many folks take extended summer vacations, the kids are out of school so there's less time to seriously shop for homes, etc… Consequently, homeowners who are thinking about putting their home on the market often hesitate to do so during these months. After all, why should you sell if the buyers are gone?
But do the statistics back up this notion? I think the answer will surprise you — it certainly surprised me. The chart below is the month-by-month home sales in San Carlos for 2007. The red line is the number of units sold, and the blue and grey bars are the median and average prices, respectively.
While the summer segment certainly isn't as strong as the traditional spring market, the momentum wasn't lost in the summer months. In fact not only did the unit volume remain steady during this period, but the median and average prices were some of the highest of the year! Check it out:
San Carlos 2007 Home Sale Summary
This may not be the case in other cities, but we all know that the San Carlos real estate market is unlike any other. So this is great news for sellers. If you're considering putting your home on the market during the summer in San Carlos, you can rest assured that the buyers will be there.