People often wonder what the best time of year is for purchasing or selling a home. Many times buyers and sellers alike are in a position to be flexible when it comes to listing or shopping for a property. As is the case with buying or selling anything, if you can select an advantageous time of year, the price you pay or receive can change substantially.
Obviously, the perspective will be different depending upon whether you are a seller or a buyer. Sellers often have the upper hand during periods of peak search traffic. Alternatively, buyers may do better during the real estate "off-season." The buying and selling season will also fluctuate depending on geography.
The Christmas Holidays Are Always Off-Season
Not surprisingly, the months of November and December are consistently a sluggish time for sales no matter where you’re located. Holiday preparation (and recovery) is the main contributor to the winding down of the real estate market. And for many markets, even September and October can be slow because of the back to school activities. However, this is not so for resort/coastal communities like the Outer Banks, Florida or Hawaii since sellers have collected their rental incomes for the summer and investors can finally gain access to properties that were unavailable for viewing during the summer season.
If you want to sell a home in a warm weather climate (think coastal communities), the best months to list are January and February, respectively. Which of course makes sense. Who isn’t thinking about a warm weather vacation/home in the dead of winter! On the flipside, the peak month for Montana and Oregon is August. Our state of North Carolina is one of 15 with an overall peak sales month in July.
If you are considering buying or selling a home in the Outer Banks, give Coastal Outer Banks Realty a call to discuss your particular circumstances and we can work together to create a game-plan that is right for you.