For the past couple of years at least, March has been the biggest sales month for our New Haven office. Yale University, Yale New Haven Health System, and other educational institutions have the greatest impact on this result. Academic and medical positions usually begin on July 1st, and the offers for those jobs typically start coming at the beginning of the calendar year.
Every year, we say that we need to try to get listings on the market sooner. And, every year, we end up with buyers who don't have enough property to view when they come to search. Some of that is due to weather, which can cause deferral of repairs and improvements that many sellers make before putting a home on the market. Some of it is the just the normal slippage of chores that don't get done when they should, or jobs that take longer than expected.
A big part, however, is that people think of May as the time to list, and June and July as the time for closings. We need to be clear that the sales season is now year round, and that early spring is the best opportunity for a seller to list, in our opinion. In the way that the first offer is usually the best offer, an early buyer is often the most motivated. Spring brings lookers, and nice Sundays are great for open houses, but those who need to be settled by July want to get the move done early.
One of the best things about that for sellers is that there will be more product to choose from when they have sold their current homes, since many people still wait to list, for all the reasons stated. This year is shaping up to be a great year for real estate, but that doesn't always mean that all buyers and sellers will be happy. Time is of the essence, and product is needed to sell before buyers can buy.
Let's get this show on the road! List now, and reap the rewards.
