There still seems to be a question in the minds of both buyers and sellers when it comes to when the busiest time of the real estate year is. Always, it is identified by the Spring market. But when actually is the Spring market?
We Realtors should really be calling it something else as it definitely does not start in April. The best market of the year always begins just after the holiday season. Some years, that means right in January with a rolling start and a mid-way point, typically somewhere in March. April is usually the over half way point with June 1st signaling the start of a market shift slow down.
Markets in real estate are very weather dependent. And this year, with heavy snowfalls in February, the market at that time did slow up which produced a faster paced March into April. Think of it this way; when parents start to consider summer vacation and daycare as we head to June 30th, their moving plans have either already been made or shelved as they have bigger fish to fry, so to speak. Their closing date will be geared toward June so their kids can spend the summer in their new neighbourhood. So, looking backward a mere 60 days, their purchase will likely occur somewhere in March so they can get their own home on the market.
Most buyers take at least 30-90 days to buy….so, dial that back from April and we have a January start. Then, you start to consider what home you are trying to market and to which buyer? All things considered; the ‘Spring’ market starts in January.