May 12, 2022
Understanding the Flow of the Market — Successful Tactics for Buyers and Sellers
Buying or selling in Greater Cincinnati requires an understanding of not only the seasonal shifts in market activity but also the weekly flow of the market.
This ebb and flow are not quite so simple to describe. So let’s take a look at it so you can better understand it.
Whether you’re listing a home or searching for one, you need to change tactics depending on the current flow of the market. It’s time to think strategically when you decide you’re going to be a buyer or seller in today’s market.
That’s why you need to understand –
Since the local housing market can change daily and reacts differently during different seasons of the year, you need to be prepared to respond to this cyclical flow.
Don’t be frustrated with or stubborn about it, but rather become attuned to it. That’s where going with the flow of the market comes in!
If you’re thinking about buying — you’ll get a better idea of why timing can affect how you go about looking for a home.
If you are thinking of selling — you will gain some insight into why your strategies to attract buyers may change depending on the month.
When you learn to understand the twists and turns in our market, you CAN end up buying or selling well.
Let’s get started!
Weekly cycle – homes tend to come on the market on Thursday or Friday.
At certain times of the year like the springtime and early fall you could face lots of competition from other buyers, so be ready to make quick decisions with no regrets.
Remember that agent showings can be an important strategy to get the word out to other agents and their clients during slower times in the market.
The most popular month for new listings is usually April, followed by March, May, June, and July.
You’re going to face lots of competition from eager buyers in this market with historically low inventory. You need to be confident to make an offer when you see a home you want. That’s why you must do your research beforehand to confirm your needs, wants, and deal-breakers with yourself and other family members. You won’t have as much time to “think” things through and will need to react quickly.
However, you still need to price it right from the get-go and have a strategy in place. You don’t want to scare buyers away if priced too high (they may fear it could go even higher in a bidding war) and it could end up sitting and you’ll end up with low-ball offers.
And, your home needs to shine in order to stand out (more on that below). Or you can go over the options on selling your home “as-is.”
Suburban homes follow the school calendar and tend to become available in April/May/June.
No matter what, it’s important to be an educated buyer ASAP if you want to be settled in your home by summer and prepare your children for the new neighborhood and school. That means knowing your budget, knowing your needs and wants (and deal-breakers), and getting ready to play hardball if necessary!
On the flip side, be on the lookout for homes that come on the market at other more quiet times of the year. This is perfect for many first-time buyers who aren’t wedded to the school calendar. Be patient, be flexible, and stay in touch so you don’t miss any opportunities that may come along.
The bottom line – get your home in “show-ready” shape well before early spring. Get organized with your to-do list and start purging stuff, cleaning top to bottom, refreshing with painting, staging rooms, and creating springtime curb appeal.
Start planning for this move as early as possible – so you can properly time your listing for this rush of serious buyers.
The market slows down in July and August but picks up right after Labor Day.
For those in suburbs or in neighborhoods tied to the school calendar, it’s critical to price your home correctly to bring in foot traffic or serious buyers. And even better, wow them with a home that is more move-in ready than not. Again, be generous with your terms and conditions and showcase your home so it looks like a great place for a summer staycation!
Understand the yearly highs and lows of market activity in several key categories.
There are, of course, exceptions to every rule, and the “flows” I explained above differ in certain neighborhoods. If you are thinking of buying, selling, or doing both anytime soon, email me so we can talk about how to go with the flow in your particular neighborhood.
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Regan Van Kerckhove is a real estate agent affiliated with Comey & Shepherd Realtors. Comey & Shepherd is a licensed real estate broker in the State of Ohio and Kentucky and abides by equal housing opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage