Summer Months Propel Home Buyers

New York City Summer Contrary to popular belief, the summer months can be a quality time to put a Manhattan home on the market. A lot of momentum in the spring season tends to carry into the summer, substantially due to the fact that there is such a limited inventory. In order to be successful during these months, there are a few factors a seller needs to consider before listing a home. With these factors in mind, as well as the condition of the listing, this summer may be the opportune time to list your home in New York City’s real estate market.
When deciding whether to come onto the market or not, one factor to keep in mind is the demand and the competition. By surveying the amount of competition with your property, you can conclude if it would make sense to place it on the market. Another factor to consider is who the buyers are and their necessities and lifestyles. As stated by Douglas Heddings of the Heddings Property Group, “Are they a family? Are they a single individual? Are they someone who’s going to be summering somewhere outside of the city and not really in the market to look? Perhaps they have school-aged children starting school in September so they don’t want to make a move over the summer. You really have to consider all those things.”  With these aspects in mind, New York City residents may be more likely to purchase a home over the summer than any other season.

The myth that everything dies down during New York City’s summer months has proven to not always be true. But, if you choose to list in the summer, the best time to begin is in June and July since August is inclined to slow down. However, low interest rates may keep buyers active all summer long. After taking a few factors into consideration, this summer could possibly be the premier time to list in Manhattan’s real estate market.