No Off Season Anymore

Posted by Jane Ebury on Friday, July 28th, 2017 at 9:56am.

This time of year is nice because it's predictable - cooler in the mornings, rain in the afternoon, muggy in the evening......... Real estate activity levels during the year use to be predictable too.  Busy season was October through April and then we would slow down during the summer months. We talk about "Season" and "Off Season" a lot particularly with sellers regarding when it's a good time to sell vs when it's not. Over the past 3 years or so, I have noticed the "off season"  not really being off anymore.  Its not unusual to see record dollar sales in the high end market happen in the so called "off season" period. Year over year we are seeing an increase in Closed sales in June, July and August.  According to the United States Census Bureau the median age in Sarasota is 54 and in Manatee the median age is 47  - we are no longer catering primarily to the retirees/snowbird population. Families and executives are looking to Sarasota and Manatee as their second home.
 

Showing requests and buyer demand are still high during the summer months, to the point that I am recommending sellers to list their homes now rather than wait because there are buyers actively looking now and far less competition for sellers - which at times can produce a higher sale price.  Of course, if you are a condo on Siesta Beach or Longboat Key, this theory may not apply.

This months statistic from the National Association of Realtors show an increase in inventory, median sales prices and the median time to contract. More importantly, it also shows an increase in pending sales for the two county area.
 
If you are thinking of selling your home and was waiting for the "Season" - my recommendation is to list now.  If you would like to discuss this in more detail, please do not hesitate to contact me. I am happy to help!

 

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