What you need to know about the truth of selling your house this summer.
Today, I’m here to talk about selling your home in the summer months. Many people believe that the summertime isn’t a good time to put your home on the market because the market is too hot and there aren’t enough people to buy homes. A lot of people leave town for the summer to avoid the heat and don’t return until the fall. Therefore, do you need to avoid this time of year?
The key here is that this assumption is only true in the 55-plus communities. In these specific areas, there are typically more buyers in the spring and fall. This also means more homes are for sale because these people wait until they’re back in town to sell. Therefore, the double-edged sword is more inventory but also more competition.
The most common type of home on the market in the summertime is bigger ones. This could mean homes that range from about 2,500 to 4,500 square feet. This is true because these homes normally have families in them, and they want to move in the summer when their kids are out of school. Historically, more homes sell in June, July, and August than in any other three-month period in the year.
Then, when families sell their homes, they typically also have to buy a new one. Some people are becoming empty nesters and want to downsize. Then, when they sell, they’re typically looking for a home in the 55-plus community with fewer bedrooms and all on one floor. Therefore, there is also demand for homes in the 55-plus communities in the summertime, along with people moving from out of state.
The great thing about real estate in Arizona is that there isn’t a dead time. In some parts of the country, there are times when the snow and sleet make it unable for people to buy and sell. However, in Arizona, we still sell 5,000 to 7,000 homes around Thanksgiving and Christmas. It’s not a bad market.