With the peak selling season under way across America, many owners with real estate ambitions may still be pondering the timing of their move.
It’s the perfect time to put your house or apartment on the market if you want to catch the summer wave of buyer optimism.
Industry data says homes are now selling faster than they did before the pandemic. Values are up in 41 of the 50 largest cities in America.
Homes for sale are 17.5% higher than 12 months ago, and new listings are back in double-digit territory at 11.5% higher.
So, not only will you likely find a good price but you’ll have plenty of homes to choose from when you buy again.
Perhaps best of all, the market is finding a healthy balance between buyer and seller.
We’re not seeing rapid falls or increases in average prices.
You can enter the real estate fray without being concerned about whether you got your timing right.
There’s definitely peace of mind in the current situation. The anxiety of losing out, or having to pay huge dollars for your next home, isn’t the vibe right now.
So long as you price your property to meet the market, you have a fair chance of beating the average on-sale time, which was 38 days in January. Once you’ve made your decision, the whole experience may not even last six weeks.
Be aware that buyers are showing a modicum of caution because of interest rates. The current retail rate of around 6.8%-7% is still difficult.
However, the Federal Reserve last month promised that more rate cuts were likely later this year – and that’s boosted market optimism.
Nevertheless, you’re not going to get it all your own way as a seller. Buyers are seeking discounts, so price your property sensibly and be prepared to chip a little off the value to get your deal over the line.
Your agent should protect you from being low-balled, or advise you from holding out for a price that will cause your home to languish on the market.
Here’s why you might want to catch the Summer of ’25 market:
Upsizing or downsizing: Life changes, such as a growing family or empty nesting, often necessitate a change in living space. A balanced market provides a stable environment to make these transitions.
Job or lifestyle: Career opportunities or a desire for a different lifestyle are increasingly prompting folks to re-evaluate their property.
Financial optimization: Many folks are seeing an opportunity to use the equity in their home to buy a bigger property, knowing they’re going to get a good price for their current property.
Personal circumstances: The market is giving you a safe period in which to respond to any life-changing events, such as marriage, divorce or health factors.
Change of scene: With the market more settled, owners now have the luxury of a new adventure with minimal downside risk. For many, this may be their one and only chance to do a sea-change or tree-change before it’s too late.