What does real estate seasonality mean for you?
If you've spent any amount of time looking for a home, you've probably heard that the real estate market can be somewhat seasonal. But what does that mean for you?
Home prices and availability tend to fluctuate throughout the year. In the spring, both home sales and prices increase significantly, usually peaking during the summer months. November through February tend to be the slowest months, but seasonality can also vary based on where you live. Having a real estate team that understands the cycles in your local market can help you take advantage of these changes.
Buying during the spring and summer months may be more convenient, but it also means you'll face higher prices and increased competition. Although you may have less homes to choose from during the winter months, less competition means you'll have a better chance of negotiating a deal. Sellers will maximize their potential buyers by listing their home in the spring.
Seasonality can either help or hurt you depending on timing, but at the end of the day the best time to buy or sell is when you're ready. Our team at Harnish Properties has been working in Lake Oswego for many years, and we understand the nuances in the local market. Give us a call today.
201 B Avenue, Suite 101
Downtown Lake Oswego