Real Estate values are determined by the Law of Supply & Demand. A limited supply, great demand equals escalating values, a plentiful supply, and low demand equals flat or diminishing values.
As a seller, how do you determine when to list your home for sale? The best answer is when there is less completion, low interest rates and plenty of interested buyers. Enlist the help of a seasoned Realtor, and have a frank discussion of current market conditions. A professional Realtor who has your best interests at heart will provide data on price trends, comparable pending sales, days on market and the wants and needs of the current buyer pool. In our micro market of Orange County, typically the best months to list are February-April and October-November. In the spring, buyers who have children want to secure the right schools, and in the Fall, those who want to buy before the end of the year are looking for new product.
As a buyer, it is best to buy when the supply is plentiful, and there aren’t many other buyers looking. In Orange County, typically the best time to buy is the heat of the summer from June-September. Historically during these months, inventory builds, buyers go on vacation and no one wants to look when the weather is steamy hot!
As a seller or buyer, it is best to be counter-intuitive. In other words, do the opposite of what others are doing, and you just may have more opportunities to make that great sale or purchase.