For many families, finding a home in their preferred school district is important. This obviously has a profound effect on the real estate market. It simply means that more homes will be sold after the school year ends and before the school year begins. Read on to see what this means for the real estate market in Saskatoon, overall.
More Homes Sell in the Spring & Summer
More homes are sold in the spring and summer, between the months of May and August, than any other time of year. This is because many families with children will be looking to find homes and get settled before the school year begins. It can also be attributed to the fact that many people don’t want to move during the school year, uprooting their children, and making them adjust to a new school environment.
For the real estate market, this means that this time period will be filled with rushed offers and overbidding. For sellers, this makes spring the optimal time to sell a home. Buyers, however, will experience a lot of competition during this time.
Less Competition During the Winter
Because families are more apt to look for and purchase homes during the spring and summer months, the market is more active for those without children during the winter months. This means sellers outside of hot school districts have a greater chance of selling if they list their properties after the winter holidays. This means less competition for buyers when looking for Saskatoon houses for sale. January has less competition than any of the other months, so buyers will find it easier to find a good deal during this time.
The Back-to-School Season & Listings
During the back-to-school season, the real estate market generally experiences a slow down. Once again, this is because most families have already purchased their home during the late spring or summer. This means that for sellers, timing is very important; basically, when you list can determine how quickly your house sells and how close the offers are to the list price. For some sellers, this means appealing to the right buyers and listing at the right time, or having a home that sits on the market too long and goes unnoticed.
Whether you’re looking to sell your home or would like to buy a new one, aligning yourself with an experienced realtor is important. Give me a call and I’ll help to guarantee your Saskatoon real estate experience is positive.