What Does The Summer Heat Mean For Buyers and Sellers
What Does the Summer Heat Mean for Buyers and Sellers in Arcadia and Paradise Valley?
It seems like I’m asked several times a week if my business drops off in the summer. The assumption that it does certainly makes sense, but the reality is that it actually stays steady. In the past, I would often suggest taking listings off the market in the summer, but we have now learned that isn’t necessarily the prudent thing to do.
Recent research shows that 55% of luxury homes in Phoenix sell in the first 6 months of the year. For sellers, this means you are not out of the game if your home hasn’t sold in the cooler months. And for buyers, you may be in a stronger position to negotiate.
If your home is listed in June, July and August, there is still a very good chance that a buyer will come knocking. If you consider the mindset of someone willing to drive around looking at homes in the summer heat, we know they sure aren’t doing if just for kicks. That’s most likely a serious buyer and there are many of them out there.
And what does it mean for those buyers? It means they may be able to take advantage of better deals, because sellers are much more motivated now that their home didn’t go during the winter season. The ability to negotiate pricing and terms can certainly become an easier process.
So… the answer to the question of the summer buying season is very different today than it once was. Summer months in Arizona can be just as strong as the winter season, so don’t let the heat scare you out of getting a sizzling deal, it can certainly be a win/win.
Would you like to talk more about hot opportunities? Feel free to contact me anytime!