If you are thinking of selling your home this year we have about 180 days left 2017. Hard to believe isn’t it?
Seasonality effects the marketing of homes even in todays strong market. With that being said I predict entry level homes will remain strong through the end of the year. Why is that? Well, it’s estimated in Tarrant County there are about 20 to 30 buyers for every home under $200,000. Compared to about 20 homes for every buyer in the luxury home market.
The fast growing inventory of $300,000 to $500,000 homes continues to out pace the number of buyers. This price range is led buy new construction. Over the last 60 days I’ve seen a lot of resell homes with price reductions in this price point. I’m receiving more and more emails from builders with growing inventory along with incentives being offered.
How does seasonality effect the market?
Typically the number of buyers drop off in August. This is because parents are getting kids ready for the new school year. Shopping for a home and moving is not in the cards for most families this time of year. This cuts the number of buyers by half.
A percentage of the buyers will come back into the market after Labor Day with activity good until Halloween. Then buyers retreat again. Most thinking about the upcoming Holidays and put off buying until after the first of the year.
The second half of the year isn’t a bad time to sell, it can be a great time but you should have a STRATEGY and that’s where Reata Realty comes in. We will walk you through the mine field.
Call me now for the In Home Consultation. It’s FREE and there is no obligation.