Summer is a hot time to buy or sell homes

 

Moving season brings a crop of new listings

 

HONOLULU ADVERTISER   June 17, 2007

 

BY LISA SCONTRAS

 

Custom Publishing Group

 

Every year just after the mango season ends and before the UH Football season begins, for sale signs sprout on lawns across the islands. Late spring and early summer means moving season — and it’s officially in full swing.

 

Peak selling seasons vary in real estate markets around the country but in Hawaii buying patterns are strongest from May through October and will reach the highest levels in August, according to Jo Frasier, Realtor and partner at Prudential Locations LLC.

 

The actual peak in Hawaii coincides with summer vacation — making this the beginning of a great time to buy or sell.

 

“Seasonality has to do with the months in which sales activity typically is stronger,” says Frasier, a real estate professional since 1979. “In the summer months, families may have more time to go out to look at properties, it’s a good time to move and get kids into different school districts, downsize, up-size, move closer to work, or out to the country.”

 

 

And while it’s still true that location, location, location is generally the most important aspect in real estate, when you’re selling your home, timing is everything.

 

“This is opportunity time,” says Frasier. “More buyers will be looking and more inventory helps to get more buyers out looking. These are the months when a seller should seriously plan to sell their properties.”

 

Both buyers and sellers have a reason to be closed by the end of the summer, Frasier adds.

 

With more buyers wanting to buy and more sellers wanting to sell, and interest rates still under 7 percent, the market is poised to be active for everyone.

 

“It’s a very simple concept actually,” says Frasier. “More inventory and more buyers equal more sales.”

 

Overlapping hurricane season and even some of flu season, the spring, summer and some months in fall tend to have more sales than the slump period of November through February which brings with it slower sales and less chance of getting top dollar.

 

Statistics gathered by Prudential Locations’ research department show the days on the market decreases during peak months, while sales numbers and prices increase.

 

In a typical year, homes sell faster in June than in any other month.

 

Resort areas, on the other hand, like Waikiki, tend to see an increase in sales during winter months as snowbirds flock to the islands during these months.

 

But for most, the prime season to buy or sell is now. More inventory gives buyers more choices than ever.

 

“It’s the busiest time of year,” says Frasier. “Tis the season to be jolly, and I’m not referring to Christmas. We are currently moving into the best time of year to buy or sell real estate. If you are a buyer or a seller, you will have more to smile about from now until the end of September.”

 

 

 

 

 

back to Helpful Articles for Sellers