Home Sales Statistics
Sales in the residential market fluctuate throughout the year. Many people acquire properties in the spring and summer, while the fall and winter months are known for low levels of activity. As such, prices are subject to seasonal variations.
Our expert analysis of sales has revealed that prices rise and fall throughout the year. Thus, certain periods of the year are more advantageous for buyers and others for sellers. Sales for the last ten years have showed clear monthly trends. A number of factors contribute to the trends, including warm weather, competitive pricing, and increased demand.
While prices are high during the most popular selling months, they generally fall in the months when the market slows. Over the past decade, on average, the median price of single-family homes peaked in spring and summer months. They peak above the median price in the fall and winter when prices are generally at their lowest. The difference between the busy season and low periods is significant.
According to the results, the period from May to August would be particularly advantageous for the sellers, since the prices are higher and increased sales. For these four months, the median price of the last ten years has been recovering strongly. For buyers, prices are better in September and October. In these two months, average median prices over the past ten years have been relatively weak.
Link Between Sales and Price
Monthly fluctuations in the number of sales and median prices typically follow similar trends. Thus, when the demand for single-family properties is high, the quantity of sales rises as does the selling prices. This stronger demand is probably due in part to the moderate temperature that makes moving easier.
Moving in the summer is also beneficial for households with young children because they can avoid problems caused by a move during the school year. This may also explain the significant drop in the median price in the fall and winter months.
Real Estate Trends
In the fall or to a lesser extent in the winter, demand seems to weaken given the disadvantages of moving at this time of year. Reducing the pool of potential buyers during this period leads to lower sales.
When the number of potential buyers decreases, sellers may become reluctant to sell their properties. As a result, they may be more inclined to negotiate down the price of their home, which could explain the relative weakness of the median price during this time of year.
The single-family home market is a seasonal market in which spring and summer are the most popular periods. During the busy season, the market is beneficial to the sellers since demand is high, which leads to higher prices. If you are a buyer, it will be easier for you to negotiate a lower price in the fall when the demand drops.
Whether you are planning to sell your apartment or condo, the New Year presents a good opportunity between spring and summer. We can help you find the ideal buyer during the busy season. Our team of experienced consultations is always happy to provide expert advice. Contact us today!