Market Update:: Summer Planning:
Home price growth is starting to slow and even though signs of competition still exist in our market today, we have to be realistic for what’s to come in the latter half of 2019.
Spring naturally creates a high demand in our area because the largest group of people all seem to be looking at the same time. If your move isn’t done before vacation season (when public school lets out), then you may want to stay put until sometime after the holidays to get a higher sales price for your home.
By studying Maryland’s housing statistics each month, home prices tend to continue to rise after the spring peak, but less of an audience is shopping for homes after school lets out. Price dropping then becomes more noticeable and the historical results show the best time to sell a home is getting slimmer.
Fear not, slower markets seem to be the better time to buy and we understand life happens and moves are sometimes unpredictable or required (as in military, job location change, etc.). So D&C is led by Diane’s experience that“if you find yourself needing to sell after June, strongly consider aggressively undercutting your competition in regards to price and outstaging them to attract the buyers that are still looking".
This month, Diane & Crew has been “plan-storming” (we’ve lovingly named it), which currently is a group chat on the topic if the “curtains start blowing in the wind” and the need for an adventure shows up! We love helping you weigh your pros & cons and Diane has an example for perspective of this below:
The Opportunity- Purchase first home will help you build equity, have tax savings, the ability to personalize your home,and avoid rent increases
The Opposition- Renting provides greater flexibility, no need for a large down payment, you don't have to worry about purchasing at the "height" of the market, less maintenance
So determine if your family is in a “sleep more” (less pressure) or “eat more” (more growth) year and our hope is this will help prepare you for real estate opportunity despite the oppositions that most certainly will arrive. We love when collaboration within the team motivates us to serve you better. Putting our heads together is just what we like to do!
The reality of the summer market is to prepare, prepare, prepare. Most likely, it is a season of having fun, more quality social time, less have to’s, and more get to’s. If you can, these months are also the most efficient to sorting out what you want to do so that when summer ends, you can start tackling it before the rest of winter and the peak to sell is back again.
So what does this summer market look like today in Anne Arundel County? Honestly, buying and selling are more active now in June then end of July and August. The heat turns up then, so decluttering and packing a home in the humidity isn’t for everyone. Activity will have a little bump again in mid September, so if this is the right time for you to make a or have to move, planning this summer will be even more crucial for you!
D&C is so thankful for our clients, a community to support, and always excited to collaborate on ideas with you for your summer planning. Let us know how we can help get you to your real estate goals now or planning for 2020!
