Summer is one of the hottest seasons in the real estate market. As the temperatures warm up, buyer demand tends to heat up as well. Families with children try to move during the summer when school is out to minimize disruptions. And the nice weather makes house hunting a bit more pleasant than in the cold winter months.
Here are some of the typical trends we see in the summer real estate market:
More Inventory Hits the Market
With families looking to move over the summer, there is typically an influx of new listings coming on the market. While there are still housing shortages in many areas, early summer sees some of the highest numbers of available homes for sale compared to the rest of the year.
Prices Often Peak
As demand increases in the summer, home prices tend to rise to peak levels for the year. Bidding wars can become more common, especially in hot markets where there is a lot of competition for available listings. Sellers may have more leverage during the summer months.
Quicker Sales
With more buyers actively looking, homes that are priced correctly tend to sell much faster during the summer compared to the winter months. It's not unusual for desirable listings to go under contract within a week or two of being on the market during peak summer conditions.
More Family-Focused Features in Demand
Buyers with children put an emphasis on good school districts, neighborhood amenities like parks and pools, and homes with adequate living space and bedrooms. Expect family-friendly features to be prioritized by many summer buyers.
While every real estate market is different, the summer months tend to bring a swell of buyer and seller activity in most areas. Whether you are looking to buy or sell, summer is a key season to pay attention to in the real estate cycle.
If you’re looking to move to Kaua’i, I’d love to show you some real estate in Kaua’i that would make a great fit for you and your family on the Garden Island. To start your life of luxury, contact me at (808) 652-0530. Mahalo!
