July is the New August
Ahhh. August in DC. While I’m not complaining about the lack of traffic, the abundance of parking spots and the ease with which one can waltz into a restaurant and get a table just like that, August is no longer seen as that forbidden territory when it comes to listing houses. We were talking about real estate in the office today, focusing in on the fact that July was not as busy as June or even May. And someone blurted out “July is the new August.” And they're right. DC schools are starting 3 weeks earlier this year (August 23). July even behaved like August, breaking all records with an average temperature of 81.3 degrees (ugh). And, it seems like more people are clearing out of town in July than ever before. If my friends are any indication, this is true.
Conventional wisdom used to be that one would never list a house in August. The reasons are many, but mostly because yards are dry and ugly and the city is empty. That said, inventory has been so low during the past few years that now there isn’t the same stigma associated with August listings. One is no longer viewed as being “desperate.” In fact, why be part of the crowd in September when you can stand out in August? The buyers are still there. I just held a first open house on August 1 where at least 30 groups came by for a look. And they were all salivating over the house (which, unfortunately for them, was already under contract).
So, sellers, take heed. Buyers, too.
And never, ever list your house in December. Heh heh.