Daylight Savings Time and Real Estate Sales

By
Real Estate Agent with RE/MAX Leading Edge
https://activerain.com/droplet/4d4y

When the clocks moved forward this past Sunday night, many folks just complained about losing an hour of sleep.  Since I took a red-eye flight back from the ReMax Convention in Las Vegas that landed 6 AM Saturday morning, I took it upon myself to whine more than most :)

However the clocks moving forward marks the beginning of the Spring real estate market in Maryland.  Longer daylight hours provide Buyers the opportunity to see more homes after work in the evenings.  Being less dependent on weekends leads to a more active shoppers.  

Increased ability to see homes combined with nicer outdoor temperatures and many people receiving their income tax returns lead to the perfect storm of home shopping.  If you are considering listing your home for sale and want to know the perfect time to list, this is it.  From now until Memorial Day historically will be the time when the most homes are coming to the market.  It is also the time that most Buyers are actively looking as well.  

We have seen a little earlier start to the Spring market this year than normal in spite of horrible weather.  This is from the demand that carried over from the slower than normal Fall market from last year when the Federal government shut down.  If you have been thinking about buying or selling, this is a good time to get a plan in place so you can move forward.   

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Rainer
19,366
Pamela Rachal
Long and Foster Crofton/Bowie Tri-County Sales - Upper Marlboro, MD

Scott, as a fellow Maryland agent, I hope you're right. I've seen an uptick in renters (definitely not a lot of inventory for them) but I'm still waiting for the buyers and sellers. In the meantime, bundle back up; it's going to be cold tomorrow :-). 

Mar 12, 2014 12:19 PM #24
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Scott, so nice to see daylight till about 7 PM. I could show a home to my buyer yesterday at 6:10 PM just because....

Mar 12, 2014 02:27 PM #25
Rainmaker
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Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher
I find going from east to west coast taxing myself. You seem to have a great handle on your own affairs, so I shall leave you to them. Love and light, Laura
Mar 12, 2014 03:41 PM #26
Rainmaker
597,022
Nancy Laswick
United Real Estate - Phoenix, AZ
Your REALTOR® For The Valley Of The Sun

Scott, we're one of the few states that does not Spring Forward or Fall Back. I'm not sure why we don't. I'm not sure how much we would benefit from it. I don't think I've ever had an issue showing a home because it got dark too early. Hope you enjoyed the ReMax convention!

Mar 12, 2014 04:06 PM #27
Rainer
248,200
Gerard Gilbers
Higher Authority Markeing - Asheboro, NC
Your Marketing Master

This is an interesting perspective! Spring forward into your business with new life that springs forth!

Mar 12, 2014 04:42 PM #28
Rainer
148,634
Manuela Baginski
Coastal Properties Group/Christie's International Real Estate - Tierra Verde, FL
bilingual Real Estate Professional in Tampa Bay

Spring is such a super time of the year...  and comparing it to spring of business.

Mar 12, 2014 05:06 PM #29
Rainmaker
415,987
Ann Zieve
Keller Williams Success Realty - Eden, UT
Unmatched Ownership Experience

Scott, I've also seen an "early spring" increase in home buyer, especially on our web site where most folks start looking, before the start contacting agents for showings.  Low inventories = best time to list is now.  Thanks for the post Scott.

Mar 12, 2014 07:51 PM #30
Rainmaker
566,078
Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Hey Scott,

Indeed the change in time gives me more showing opportunities during the week.  Good post and best of GREAT success to you in 2014!

Mar 12, 2014 09:47 PM #31
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Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

In Charlotte because we lost 4 days to snow (very unusual for us) in February, it had a real impact on the number of sales last month--now we've had some really rainy days here, so to-date I can't say I've seen an early spring kick to activity.

Mar 12, 2014 10:04 PM #32
Rainmaker
322,478
Tamara Inzunza
Realty One Group Capital - Alexandria, VA
Close-In Alexandria and Arlington Living

I'm always happy about springing forward and getting more sunlight!  Looking forward to the blooms and blossoms!

Mar 12, 2014 10:33 PM #33
Rainmaker
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Scott, turning the clocks ahead is a sure sign that Spring is in the near future.

Mar 12, 2014 11:06 PM #34
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Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Scott...I like your silver lining approach here.  We need a lot of melting in Chicago...not just turing the clocks ahead.

Mar 12, 2014 11:19 PM #35
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Yes to the point of the post...More light to do more right

Mar 13, 2014 01:08 AM #36
Rainmaker
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

We're seeing an early Spring start as well (not in terms of weather, but in terms of real estate).  Yee ha

Mar 13, 2014 01:30 AM #37
Rainer
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Scott Smolen
RE/MAX Leading Edge - Odenton, MD
Rooted in Tradition, Focused on the Future

All great insight on different markets around the country.  

I think that anybody who was a full time Realtor over the last 5-7 years will agree that the market went through some really rough times.  Spring, summer, fall or winter, we had points where homes were just sitting stagnant almost no matter what.  

The last 2-2.5 years have really rebounded well in my marketplace.  It seems like we are back to a more normal cycle in Maryland.  About 60-65% of the business for the year will take place over the next 4 months or so.  Time to make hay when the sun shines.....even though it is 25 degrees out today....

Mar 13, 2014 01:33 AM #38
Rainmaker
908,388
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Takes time for me to adjust losing an hour. Warm weather or cold, the national trend seems to be low home sales in January. 

Mar 13, 2014 01:58 AM #39
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Paul McFadden
Responsive Pest Control - Seattle, WA
Pest Control, Seattle, WA.

Good to hear. We too have seen an uptick in the market recently!

Mar 13, 2014 03:21 AM #41
Rainmaker
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Tg Glazer - The Right Realtor® for the Right Results!
Coldwell Banker, Westfield, NJ - Cranford, NJ
Westfield/Cranford, NJ area

I have no problem losing that one hour on one night for the longer daylight on all the ones that follow.  I hate when we go back to standard time and it gets dark early.  I'm thrilled to have the longer days and the promise of warmer weather to come!

Mar 13, 2014 03:24 AM #42
Rainer
33,886
Scott Smolen
RE/MAX Leading Edge - Odenton, MD
Rooted in Tradition, Focused on the Future

I know that we saw a sluggish January, but seemed to be gaining some momentum in February despite less than ideal conditions for home shopping.  Compared to last year at the same time, our numbers are looking pretty good.  Settled sales are slightly down early in 2014 due to the government shut down in the fall of 2013 and how that dramatically impacts the Washington DC suburbs.  Now we are seeing the carryover effect of that.    

However we have taken double the amount of new listings from the same time last year, and the pending settlements are also up from the same time in 2013.  The demand is out there in our market, but it varies depending on price point.  Lots of first time buyers are buying again and that should lead to more move-ups as the year progresses.  We also get a steady influx of transfers in and out of this area for government related jobs, NSA, and other branches of Fort Meade.    

Mar 13, 2014 04:40 AM #44
Rainer
335,386
Art Welch
Superstars Realty - Buckeye, AZ
Broker

the last dose of snow back east seems to have really got folks in the mood to buyer here in Arizona.  My phone is off the hook with Snow Bird buyers.  Let it snow

Mar 13, 2014 12:43 PM #45
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Scott Smolen

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