The Best Time of Year to Search for Real Estate
Real estate is a surprisingly seasonal marketplace. There are enormous variations in real estate activity from one month to the next. This has an effect on both property availability and retail price. Investors will be able to use the natural tides of the marketplace to emphasize what they want to accomplish. Although the timing is important, being on the lookout for your “perfect” property is crucial.
Real Estate in the Winter
There are many theories as to why this may be, but it is a known fact that there is much less real estate activity during the winter. This is as true in the tropical real estate market of Central Florida, as it is in the far colder climates of the northern states. It is more difficult at every step of the way to make a real estate transaction happen in the months before spring.
Real Estate in the Spring
Once March and April arrive, the entire market will begin to blossom. It is often best to look for commercial property for sale at this time. Consequently, there are also many offers on properties, which can add pressure to make a deal. Building inspectors, loan officers, tradespeople, and all the other ancillary professionals also typically tend to be more prepared to get to work when the time of the year is right. This does not mean that commercial real estate can only be purchased in the seasons when the flowers are in bloom.
Understanding the Market for Real Estate
A clear understanding of what tends to be available, and when to make that move, are your best bets year round for finding a real estate property. Winter is generally a better time to store resources and lay groundwork, while the spring is conducive to beginning the search. This isn’t where the word ends, unfortunately. The rest of the year is filled with negotiating the deal, preparing the property, filing the paperwork, and completing the transaction. Need help with your next property, or with getting started?