The weather isn’t the only thing heating up in the summer – if you are in the market to buy or sell a home, real estate is at its hottest during the summer months. During the summer, more homes go up for sale making the season an exciting time to buy. Let’s take a look at some of the factors that shape summer real estate.
A Lot to Take In
With more homes on the market, there’s going to be more variety in the homes you can check out in the summer than during other times of the year. If you are looking to see what is out there, summertime house hunting will give you the fullest picture. Shopping for something off the beaten path? You’ll have better luck finding it in the summer when more houses are for sale. Want the perfect location? You’ll be able to find more options for where your new home is when the summer real estate market is in full swing.
The disadvantage? There are more options in the summer, but you have to be ready to act. The market moves faster, so summer isn’t the season to wait on a place you love.
Many people assume that because more people are buying and selling in the summertime, house prices go up. You may be surprised to learn that a more competitive market doesn’t mean you’ll pay more for a home. Chances are, you won’t pay more, but you will find your next home quicker. Go into your home search with a solid idea of your budget and financing and you’ll be able to make competitive offers on homes in your range.
Summer is more a more competitive real estate market, but it is also full of sellers who are motivated to sell, which can make the buying process move along quicker, and can mean that buyers get as much of a good deal as they would during the rest of the year.
More to Show for It
The nice weather definitely plays into the popularity of the summer housing market. When you shop for your next home during the summer, you’ll get a real sense of what is growing on the property. Roofs, decks, driveways and sidewalks can be better assessed when they aren’t covered in snow or ice and you can get a better sense of the way sunlight hits the property when the days are longer. If the state of the yard and surrounding landscape are of value to you, consider shopping in the summer when you’ll get a true lay of the land.
A Time to Buy – and to Sell
Things move faster in the summer real estate market making it an ideal time to buy if you also have a home you want to sell. The increased amount of properties and shoppers that the summer brings mean that it takes you less time to both sell your old home and find a new one. This is especially important if your purchase of a new home is contingent on selling your old home. The summer market can really push things along and shorten the time that you spend between homeownership.
During slower times of the year, buyers who sell before finding their next home may have to look into the expense of moving to a rental apartment while they find and close on a new home. Similarly, when the market slows down, those who buy a new home before their old home sells may find themselves in a tight financial situation for a longer period of time.
Fawn Ridge Realty
Ready to jump into the summer market? Fawn Ridge Realty is excited to help! We specialize in real estate in the beautiful Lake Carroll community in northwest Illinois. Lake Carroll homes are built in the midst of rolling wooded hills, a lush country landscape and the largest private lake in the state. The active Lake Carroll community means there’s always something to do, but if it’s your day off, you’ll also find there’s no better place to relax and do nothing.
When you want to find the home of your dreams, Lake Carroll is the place to start and nobody knows the area like Fawn Ridge Realty – give us a call today!