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Is there a “Black Friday” for real estate?

Is there a “Black Friday” for real estate?

Time For A New Start. Removals, credit and new property concept. Handwriitng text in the notebook

With the huge Black Friday discounts now a fairly distant memory and the Christmas holiday season over as well, shopping deals are once again few and far between.

Even at the height of the sale season, however, you’d never have seen people lining up at local real estate brokerages or at open houses with thermoses full of coffee and camping tents. The fact is that when it comes to real estate, there is no equivalent to the sweetheart deals that “Black Friday” sales are known for.

While there simply are no fire sales on property, that shouldn’t get you down. In fact, this is a good thing. Cape Coral property values are based on what someone is

willing to pay. Having an appraisal done is a highly acceptable way of valuating a property. It allows buyers to gain a better understanding of the market by comparing similar properties and what they sold for.

The “Season”

The period from January 2 all the way through to Easter is known in Southwest Florida (SWFL) as the “season,” which is deemed by many as the perfect time to sell.

When buyers are willing to pay more for homes for sale in Cape Coral, FL, it is considered a seller’s market. However, buyers aren’t exactly breaking down doors begging sellers to take their money. While statistics do show a modest increase in the number of sales during this time, the demand is vastly overstated. During the “season,” sales will typically be 14% more per month volume-wise than during any other time of the year. Certainly nothing to sneeze at, but not “ huge” either.

Having a slightly higher turnover doesn’t always directly affect the sales price. Contrary to what potential sellers may think, houses for sale in Cape Coral FL do not necessarily sell for more during the season.

School’s Out

Another second lesser-known “season” is from May to July. This season is marked by two significant factors that help drive demand. The first is the end of the school year. Families like to move homes when the kids are out of school; they typically don’t want to move their kids in the middle of the school year. This increase in the number of families wanting to go out and explore their property options during this period translates directly into a boost in the number of sales Realtors can expect to see.

The second driver of sales during this season is cheap airfare. Airfares typically drop significantly between June and July. This coincides with the time when property investors are eager to test the waters. They believe that sellers from the first “season” will likely have lost hope and be ready to slash prices. Investors come down looking for a bargain and often close great deals on homes or investment property.

The Slowdown

The easiest timeframe to pinpoint in real estate would be what is considered the “slow” season. To call the season slow isn’t really fair, however. The truth is, most successful realtors continue to sell property throughout the year.

But if there were a “slower” season, agents would probably say it’s the period between October and December. Again, the meaning of “slow” is relative. In reality, an appropriately priced, well-marketed house will sell no matter what time of year.

Southwest Florida is an area that enjoys a relatively high demand, with buyers ready to look at properties and make a purchase year-round. The weather is never too bad to go see property.

Moreover, the market in this locale is more cyclical, slowly rolling in and out of buyer and seller markets. These cycles can come in short 3-month bursts or can happen in more long-term 5- to 7-year stints. Outside of the real estate bubble, these cycles do not get pushed too far one way or the other.

While you may think you know how to sell your house yourself, the best thing to do is to talk with an experienced agent. It’s good sense to ask for current market statistics and for actual data on comparable properties nearby and seek to better understand the cost of selling a house. Trust that if you are working with an agent with a good track record, they are competent in helping get properties sold.

This is the Mike Lombardo team’s specialty. Sometimes, buyers may come to us with instructions like, “Sell my house for cash.” Trust us to make it happen. We’ll also provide sellers with tools to make their house sell for the best possible price in the timeframe they desire.

Whether you’re ready to sell or want to buy a home in Cape Coral, Florida, get in touch with the Mike Lombardo team at [ai_phone href="+1.239.898.3445"]239.898.3445[/ai_phone] or leave a note here. We are the best at what we do – just check our track record and client testimonials.

I would like Mike to give me his opinion of value.