When to be on the market
A common misconception is that summer is the best time to have a home listed for sale. Sales statistics indicate that the summer months of June and July have the highest number of homes closing escrow. But a property closing escrow on June 15th was first visited by the buyer an average of 2 months prior to that closing date. And, 85% of those buyers have been actively looking at homes online for at least an additional 30 days prior to contacting a real estate professional.
A better gauge of when a home is getting the most exposure should b e based on when buyers are actively looking at properties. This can be done by tracking the number of pending listing in the MLS. This figure is far more indicative of when the buyers are writing contracts. Historically in
When pending numbers are combined with inventory figures a clear picture develops when you should b e on the market. Although the actual number of buyers will remain strong throughout the summer, the substantial increase in available inventory during June and July translates into more competition for fewer buyers. Providing a seller does get an offer, sellers will be in a less favorable negotiating position.
