The Summer Seller's Market: Why Buyers are Motivated in the Hottest Months
Posted: July 6th, 2020
Brevard County Real Estate is Moving Quickly
There’s one thing Brevard County homeowners know for certain: Florida summers are hot. As we enter July, we’ve seen average temperatures exceed the historical average with forecasts indicating that they will only keep climbing. That’s not the only way Florida is hot this summer, though: our real estate market is also setting and breaking records. Conditions for selling your home in Brevard County are shaping up to be very favorable.
It may come as a surprise to some that the summer months tend to be busy for real estate professionals. After all, soaring temperatures mean that most of us are seeking the solace of air conditioning. But over the years, Ellingson Properties has witnessed increased sales and faster sales times during the summer months, almost without fail.
Opportunities to Sell Your Home in the Summer
There are a handful of reasons why buyers are more motivated during the summer months. Currently adding to this trend are our historically low interest rates, empowering buyers to seek out homes they may not have previously been considering. Setting that aside, the summer is still an enticing time to buy for a number of reasons:
School’s Out for Summer
Parents of school-aged children tend to have more flexibility with their time and schedules during the summer months, when class is out. Of course, with the rise of the COVID-19 pandemic, Brevard County school children left their classrooms around March of this year, but many parents still had to act as instructors for their kids. Now that classes are over until the Fall semester, parents have more opportunities to attend open houses and walkthroughs.
Summertime Relocations
The most popular time for job relocations is also the summer, and the Space Coast attracts a number of relocations each year. As L3Harris and other aerospace and defense companies continue to grow, many people are either transferring or changing their jobs during this season. Employers tend to choose the summer months for relocation so that families don’t have to interrupt the school year and so that people driving moving trucks are less likely to encounter unfavorable road conditions.
Tax Refunds Have Arrived
With tax day in April, many potential buyers come to the table armed with their refund money to boost their purchase power. Combine this with the fact that interest rates continue to stay low and buyers have a great deal of purchasing potential on their hands. In these extraordinary times, tax day has been pushed back to July 15, but it seems as though many current interested buyers have already organized their finances.
Listings Don’t Stay on the Market for Long
According to a new report from Zillow taken in the second week of June, the average home for sale in the U.S. only stayed on the market for 22 days. This is the fastest real estate has moved since 2018. Ellingson Properties has recently added more available homes to our listings, but still, inventory remains low.
If you’ve been looking for the perfect time to sell your home, it’s now! Selling your home in Brevard County in the current market means that there’s a good chance you’ll quickly find a motivated buyer and be able to sell your home at the cost you want. To schedule a consultation with one of our real estate agents, call Ellingson Properties at 321-750-7050 today.