The seasonality of a market varies from location to location. In Phoenix, the winter months are popular due to an influx of people relocating from other regions or buying a second home. Alternatively, in Denver, the cold weather climate creates a market slow down. So when is the best time to buy or sell a home?
The Best Time for Families
Studies show that the busiest moving times of the year occur during the summer. Buyers and sellers with children typically do not want to uproot their family in the middle of the school year. Instead, the summer months offer more free time for moving.
With this in mind, many home sellers target June to list their homes. However, by this time, the market is often beginning to slow as vacations and other summer activities take priority. Families intending to move during the summer have often closed by May or June!
The Best Time in Larimer County
In Larimer County, the peak closing month from 2014 through 2017 has been June. Weld County closings peak between May and July during those years.
Homes that are closing in June are going under contract about 30-60 days earlier, from early April through late May.
Listing activity in Larimer County ramps up as early as March with strong numbers continuing into June. The strongest months for listing activity in Weld County since 2014 have been April through July.
As the holidays approach towards year end, fewer people are moving and the number of closings between November and January decrease. People often do not want to add the logistics of moving to an already hectic holiday season.
The colder months when demand and activity is lower may benefit you! By not buying when everyone else is buying, you might have less competition, and a seller with a home listed for sale during the holidays is typically motivated!
However, ultimately you are best served when you buy or sell at the time of year that fits your needs.