Every year in mid-May, we are reminded of the countdown to summer by the appearance of sprinkler toys in Walmart’s outdoor section and the smell of sunscreen lingering at the checkout counter. Likewise, we are reminded of the season’s approaching close with the arrival of back-to-school supplies and backpacks greeting us at the entrance of every major department store by the first week of August. As a parent of a young child nearing school age, I have started to take closer notice of this. I have also become more aware of how this schedule impacts my buying habits and purchasing decisions. For example, we have started to discuss a family vacation for when our daughter is a little older, and already the debate has begun: should we be saving extra to travel during the summer months when she has vacation (coincidentally one of the most expensive times to visit Disneyland), or should we take her out of school and opt for a quieter, less costly time of year?
Making these decisions and sometimes sacrifices as a parent is simply part of family life, and it no doubt has an impact on the real estate market as well. Logically, neighborhoods bordering highly sought-after schools, as well as university areas, often come with a higher price tag, with demand remaining fairly strong. Market volume shows that peak inventory months for properties, particularly single-family homes, are between June and August each year, with most families trying to plan a move before kids return to school in September. It is also not uncommon to see spring listings with sellers requesting possession dates later in spring or summer to align with school schedules.
A Different Perspective
We know school schedules are not the only motivation for moving during spring and summer. Relocating in colder months can be unpleasant and inconvenient, but there are advantages to waiting out the good weather. Although inventory levels tend to taper off in October and November, competition also lessens. This can be especially strategic for buyers pursuing properties that are usually highly competitive. Purchasing rural properties can be trickier during the winter, when snow cover hides the land, but this challenge can also translate into cost savings and greater negotiating power.
As our broker famously says, “The best time to buy or sell your property is the best time for you.” In other words, your real estate decisions should be based on what works best for you and your family, and that is advice I can definitely get behind.
