When you think seasons, Southern California isn’t typically the first to come to mind.
And though we’re happy to promote our 7 months of summer, few weeks of winter, and the spring & fall that fill in the gaps, we’re here to breakdown the four seasons of real estate. The busy seasons, the slow seasons, the in between seasons, and the best time to buy.
So let’s get to it…
The Busy Season | March – June(ish)
At the start of the year the market begins to pick up momentum. We usually see a blip in new listings for the first couple weeks in January. Many sellers wait until after the holidays to put their homes on the market and the buyers who don’t blow their down payment on holiday shopping are ready to jump on the new listings.
It’s often a slow build up until spring officially hits. That’s when the buying and selling season is in full swing. The market usually peaks about half way through June. Why June? – Buyers and sellers like to time their move with the kids’ summer break from school.
Tip: Buyers be prepared. You may be competing with other offers so make sure you have a solid pre-approval in place and if something special comes on the market, don’t wait to make an offer.
The Summer Lull
Right around the 4th of July we start to see the market slow down. The Conejo Valley is a family community and the summer focus tends to shift from buying and selling to summer camps and vacations.
August is the second slowest month of the year. People take their last vacations and start to get the kids ready for the upcoming school year.
Tip: Value Shoppers this is the time to jump on some of those homes that were missed in the spring market. There’s usually a little extra room for negotiation on these guys.
The Busy Season Part Deux | September – Thanksgiving
Fall… my personal favorite season – in real estate and in weather. September to Thanksgiving is often our second busiest time of year. Those who didn’t want to list in the summer are now ready to hit the market and buyers with no luck in the spring are back on the hunt.
Pro Tip: More homes come on the market during this time of year and multiple offers are less common. If your luck ran short in the spring season don’t wait for next year, fall is a great time to buy.
The Holidays
It’s probably no surprise that right around Thanksgiving the market takes a slow turn. We’re not talking full shut down but the market usually slogs through New Years making up the slowest months of the year.
Pro Tip: These sellers are usually pressed for time to sell. And the competition from other buyers is minimal. Need I say more?
Best Time to Buy
Truth be told, the best time to buy isn’t dictated by the market. It depends on what is best for you – the market keeps turning year round.
