Timing The Market

Charlotte, NC:  I had this question from a buyer recently about our market now that it is after Labor Day.

"In your professional opinion would you say this a slow time of the year for real estate?"

Not necessarily.  July and August usually are a bit slower for real estate in Charlotte as so many people go off to the  NC beaches that are only three hours drive away or to the Blue Ridge Mountains that are even closer to escape the heat.  In the first part of September  as people get kids back in school and get reoriented after the summer things can be a bit slower but late September, October and November are actually pretty good.  It does depend a lot on the interest rates and the economy.  I have had fantastic Decembers and awful Aprils due mostly to what  was going on in the outside world. The real estate market never stops, it just speeds up or slows down.

Timing the market is never a good idea.  Many people think that the Spring is the ony time to buy or sell but the fact is things are not always as we would expect,  at least not in Charlotte.  In the Fall and Winter market there are fewer buyers looking and fewer homes for sale, and the people who are looking at that time of year are serious buyers and serious sellers.  There are more buyers to be sure in the Spring but there are also more home for them to pick from making competition more severe for sellers trying to rope one in and for buyers who have to compete for a limited number of homes with other buyers.  It is a faster, more competitive situation. 

We do not get a lot of snow here in the Charlotte area that would negatively effect our market.  In fact, the weather is never so severe that it is a factor in selling or keeping buyers away. I have often sold homes when it snows and consider it a good omen for my business.  When it does snow  ( 3 inches is a BIG snow for us and rarely hits before Janaury), everything shuts down, people stay home and  it melts the next day.  Life goes back to normal and it was a fun break.  If you are not into fun, the main roads do get salted down before the snow hits so they are typically navigatable pretty early on. 

So is this a slow time of the year for real estate?   The answers to all real estate questions is "that depends".