Daylight Saving & Spring/Summer Season Stimulate PA Real Estate Market
This coming weekend (Sunday 3/9/08) we spring forward an hour. REALTORS should celebrate!!!
I consider the start of extended daylight to be a "REALTOR HOLIDAY" here in PA, but not necessarily a "REAL ESTATE HOLIDAY" for the general public. REALTORS may make most of their commission in 5 months (April-August). This does not necessarily mean its a better time to buy, or a better time to sell real estate, so: Buyers and Sellers should celebrate all year long!!!!! (my explanation is below the stats).
Buyers AND Sellers start to come out of the woodwork when the days get longer & the weather is beautiful. This year will bring more of the same. Why? - Because buyers will buy, and sellers will sell - PEOPLE MOVE!!
Here are some interesting statistics from TREND MLS for 2007 to show an example of what the Spring & Summer really mean in Montgomery County, PA
Montgomery County, PA
2007: 9,890 TOTAL Residential Real Estate Sales
January - 593 Units Sold
February - 566 Units Sold
March - 844 Units Sold
April - 785 Units Sold
May - 977 Units Sold
June - 1192 Units Sold
July - 1102 Units Sold
August - 1106 Units Sold
September - 694 Units Sold
October - 746 Units Sold
November - 696 Units Sold
December - 589 Units Sold
This means that more than 52% of the sales in '07 were in April through August (5 months/42% of the year). Does this mean that its best to sell your house at a certain time of year, or best to buy a house at a certain time of year? - NOT NECESSARILY!!! Any time of the year is a good time to buy & sell real estate Montgomery County, PA because:
1. As a buyer, there are less buyers to compete with in the other 7 months of the year, but less housing inventory.
2. As a seller, there are less homes listed/for sale to compete with in the other 7 months of the year, but less potential buyers.
Jordan Mariano, ABR, REALTOR
jmariano@weichert.com, www.jordanmariano.com, 215.896.0104, 215.643.7776x182
Weichert Realtors
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