As the summer months approach, the real estate industry experiences new trends. Predicting the changes before they happen can make it easier for buyers and sellers in the market. While some of these things can change as the summer progresses, they are a great place to start. Summer real estate trends do not have to be tricky. It comes down to seeing the main points that make it easier to make decisions about your property, or the search for one.
Summer Real Estate Trends
Getting ahold of summer real estate trends can leave you time to enjoy it! The world of real estate as a buyer or a seller is so exciting. At the Martin Freeman Group, we stay on top of the trends, so you do not have to. Take these into account as you journey through the world of real estate.
It Will Continue To Be A Seller’s Market
One thing that will not change with summer real estate trends is that this market favors sellers. That means it is a great time to consult a real estate agent about listing your property. This summer would be the perfect time to make a sale and be confident in it even before it ever enters the market. There are so many people looking to buy, and your home could be the one they have been searching for.
Ramsey details that buyer demand will remain strong throughout the year. Homes for sale were reaching an average of 3.8 offers into 2022. As you can see, buyers want to buy. Sellers can list their properties and feel confident about the outcome. It may even be that you can choose between multiple offers, making the most out of your decision to sell in the first place.
Buying A Starter Home May Be More Efficient Than Renting
One of the most important summer real estate trends is the debate between buying and renting. With rental prices consistently on the rise, buying a starter home in this market can be more efficient. That may seem unlikely, but incurring the monthly costs of rent can add up to more. There are more upfront costs associated with buying, however, the way the rental market is moving supports the idea to buy.
There Is A Demand For Indoor And Outdoor Spaces
These summer real estate trends often mirror what is going on in the world. Since the initial presence of the pandemic, people want to appreciate their space. They also want to feel like they have room to spread out, even from the comfort of their home. Having a home with ample indoor and outdoor square footage is on everyone’s list.
It Is Going To Take Time To Find A Home
In this market, homes are selling quickly. Once you find one you like, it could already be under contract. This may even happen a few times throughout your real estate journey. It is essential to realize that this may happen and accept that the time may be longer than you wish
According to NextAdvisor, there is a shortage of homes for sale this year. That means, the demand for buyers cannot be met swiftly because there often are not enough homes to serve those numbers of interest. Eventually, you will be able to find a home, and working with a realtor can help soften that process for you.
Understanding the summer real estate trends comes with learning about both the sellers and buyers. The two sides to the market ebb and flow, but these days the sellers are definitely seeing the positives of it. You can worry less and have someone to depend on if you choose to work with a realtor. Are you looking to buy or sell a home in Summerville this summer? The Martin Freeman Group is here to help. Check out our website or give us a call at (843) 619-7292.