It may sound unrelated but bad weather affects real estate.
This is demonstrated most obviously by spring and autumn being the most active for sales and listing inventory. In amazing summer weather, people want to spend time on the beach or sitting on patios. In the winter, most people are not eager to drive on icy roads or be walking through slush and cold in and out of houses. As shown on the graph, listing inventory and sales decline significantly from October and slowly begin to increase again in the new year and peaking as we reach the spring.
If you’re a buyer, bad weather is a great time to find a deal. Most listings will be experiencing a slow in showing traffic so when they receive an offer, they’re often more likely to be negotiable as they know the next opportunity to sell might be a long way out.
As a seller, winter or during other bad weather is a great time to be on the market. You will likely get fewer showings however, those that are willing to face the rain or cold are usually serious and motivated.
So whether you are a buyer or a seller, bad weather is a good time for real estate.
Contact us for a fresh perspective on the market and to see if buying is right for you.