It’s Kick-Off Time in San Carlos…
September 8, 2010
But Not Just for Football.
Labor Day is now behind us , and that can only mean one thing: No, not “Yay, the kids are back in school!“…that's a close second. Nope, it's kick-off time for football. Whether you're a fan of pro, college or high school ball, the week after Labor Day is typically the beginning of the regular season for all of them. And that means plenty of full-blown couch potato weekends, fantasy football drafts, and neglected yard work.
But this week also marks the kick-off of the fall real estate “season” in San Carlos. Yes, there is a fall season in real estate, believe it or not. Obviously, everyone knows about the spring buying season in real estate, but what happens from the end of the summer through the end of the year is not well understood by many buyers and sellers. Make no mistake; even though it's not as big as its spring counterpart, there is a significant and well-defined real estate market in the fall.
The Fall Real Estate Market.
In a normal year, the big buying season in San Carlos winds down in late-July and August. But once that August snooze is over, there's a big uptick in activity and sales during those two and a half months that span between Labor Day and Thanksgiving. But it's much easier to see it than to describe it — take a look at what happened last year:
Granted, last year was anything but typical, but the performance of the market relative to the other quarters was consistent. If you pay attention to the red line that designates pending sales, it clearly illustrates the whole point of this discussion. There is a significant, albeit short-lived, real estate market in the fall. And I have no doubt that this phenomenon will happen again this year, because the same elements are in play right now that have driven the market all year long:
- Low Interest Rates
- Demand (far more buyers than sellers.)
It's important to understand what the next 2.5 month span has in store for those who are in the market.
What Does This Mean?
For starters, sellers should not be hesitant to list a home in this market. Now that summer is over, you once again have the full attention of the buyer pool — but that will only last until about Thanksgiving. There has been a relentless buying spree in San Carlos, especially in White Oaks and Howard Park, and it's showing no signs of slowing down in the near term.
For buyers, it's very easy to get lulled into inactivity during the late summer months. But now, it's critically important to keep on your toes, since you should start seeing a surge in new listings over the next few weeks as these smart buyers get there homes on the market and try to capitalize on the fall market. The same rules apply as they did in the spring — get into see the homes as soon as possible, and be ready to make a move quickly.
The bottom line is that the lull of August is over — and we're jumping right back into “business as usual” in the San Carlos real estate market. So stay tuned for the “post-game” show after this season is over to see if my prediction was correct.