| Something few people consider when both looking | | | | rebates showing up from April on, a lot of potential |
| for a home or condo to buy or deciding to sell one is | | | | buyers apply them towards a down payment on a |
| how seasons affect the housing market and when | | | | new house or condo. Schools and collages close for |
| the best time of year to buy or sell is. But in fact the | | | | the summer, often freeing up families to relocate |
| time of year that you decide to shop for a home or | | | | before a new semester starts. And what better time |
| put yours on the Chicago real estate market is very | | | | to show off a home than when the grass is green, |
| important. With just a little research or a few | | | | the trees look good and you don't have to battle |
| well-placed questions to your real estate agent, you | | | | snow to get to the front door? |
| will soon find that timing really is everything. There | | | | All in all, The National Association of Realtors says |
| are more homes for sale and properties listed during | | | | that there are more home sales from April to July |
| certain months than others. Although there are often | | | | than any other time of year, with June being the |
| other circumstances that dictate when you have to | | | | peak month. Surveys show that about 40% of all |
| buy or sell, if you can follow a few timing suggestions | | | | homes sold nation-wide occur from May to August. |
| you could potential save a lot on a new condo or | | | | That means that there are more properties listed and |
| shave months off how long your property sits on | | | | more buyers, which can be good and bad. And |
| the market. | | | | because very few buyers actually look at homes or |
| Of course there are other factors that play into sales | | | | make offers on holidays, Easter can be a prime time |
| in the real estate market. The overall economy, | | | | to grab the home you want, provided you can get |
| oversupply of housing or the flip side of booming | | | | the seller or agent to deal with you on that day. |
| economy and limited housing are certainly going to | | | | Home sales and inventory generally stay fairly steady |
| affect buyers and sellers. Add in the fact that a | | | | through the summer months, then drop off as fall |
| prime location is often key to many buyers. A | | | | approaches and school starts again. Along about |
| property in the suburbs or one of the North Shore | | | | October, the start of cooler weather and pre-holiday |
| communities will always appeal to a segment of the | | | | season, sales may increase slightly. This is due in part |
| population, while well-priced, well-constructed | | | | to some sellers lowering prices because the year is |
| downtown Chicago condos like the ones listed here | | | | drawing to a close and they want to make a sale, |
| often sell faster. But no matter where your home is, | | | | thus prompting some potential buyers who might |
| you can maximize its selling potential by coordinating | | | | have been waiting them out to finally make an offer. |
| the time of year you list and advertise it. And by the | | | | Working from that holiday theory on the opposite |
| same token, you can negotiate the best deal on a | | | | end of the spectrum, Christmas is another holiday |
| home you want to purchase by making an offer on | | | | where you are unlikely to face any competition from |
| certain days. | | | | other buyers making offers on a home. In fact, the |
| Keep in mind also that in states where extremes of | | | | month of December can have its own special perks |
| weather are less of a factor and there is less | | | | pertaining to selling or buying a condo or house. The |
| delineation in seasons, timing won't matter so much. | | | | holidays can put people in a festive, generous mood |
| Places like California and Florida don't share in the four | | | | and historically the pricing is lower on most properties. |
| seasons the way that states like Illinois or New York | | | | Many sellers will even pull their homes off the market |
| do. And in states where the warmer months are | | | | during the winter months because in truth most |
| outnumbered by cooler ones, your window of | | | | people don't want to move in the cold and snow. |
| opportunity as far as yearly timing is also shorter. | | | | This means that inventory is lower, but generally so |
| All that being said, spring is by far the best time for | | | | are prices. Condos and houses normally sell for about |
| the real estate market. There are several factors | | | | 3% more than average from May to June, then fall |
| that all come together to play into that season being | | | | to 3% below average from December through |
| the busiest for the home market. People are | | | | January. |
| generally tired of being cooped up inside over the | | | | Whether you're buying or selling a home, you might |
| winter and a real spring fever of sorts brings them | | | | want to keep in mind what month the calendar page |
| out, often looking for new places to live. People are | | | | says. There really is a season for everything, including |
| usually more optimistic in the spring and with tax | | | | real estate. |