Why does the spring market begin to take flight in March?
There are the obvious reasons: the winter thaw is dissipating, and the days are getting longer. Buyers come out of a long hibernation; and those who have been thinking about purchasing a new home are preparing themselves, not onlyto buy a home, but to move.
A typical estate transaction for buyers and sellers typically can take up tosixy days from an executed binder to the closing table. The month of March begins process of timing a convenient closing as buyers are not only shopping for a home, but for a closing that will typically take place right around the time their school-aged children finish their last days of school. The Spring market is the strongest market in Real Estate, and the Spring-buyer has the Summer on his/her mind. This group of decisive buyers want their move completed before the Fourth of July holiday, and they don't want to move during a summer-swelter. A home that is bindered by April 1st may close around June 1st; a prudent deadline
for todays' market as obtaining a mortgage can come with delays near the end of the transaction.
The Spring-buyer has been waiting all winter for Spring inventory, and is touring homes with agents and attending open houses right now. This buyer is driven, decisive and goal-oriented. Compare the Spring-buyer to the Winter-buyer; the Winter-buyer knows that buyer-competition is lacking during the winter months, and purposefully waits for Winter to get those better prices.
Timing is everything in a moving market, and the seasons matter. If you are selling your home this spring, and want to catch the wave, the time to start speaking with a Realtor is now.
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