This article will focus on the best and worst times of the year to buy or sell real estate in the Prescott, Az. area. Many of you may have read some of my articles in the other parts of the county, so you also have your best and worst times of the year. Each area is different. Call your favorite realtor and ask them about the best times of year to buy or sell in their area. Phoenix; Fargo, ND; ski country, lake country, mountain vacation homes - they all have their own seasons for buying and selling.
We will look at this on a monthly basis as best I can.
OCTOBER: This is a fringe market or an equal market. It is generally good for both buyers and sellers.
NOVEMBER: It is normally the start of a buyers' advantage market as weather, holidays, spending and planning take priority. Do not do any long term listing this month.
DECEMBER: This month is a great buyers market as most sellers do not want to wait for the spring market. Buyers should have their financing all set up. Sellers, again do not do a long term listing.
JANUARY: This market is similar to the December market, but still a little better for buyers than December. Buyers should be ready to act on your purchase as deals are better made if you are ready. Again, sellers do not sign any long term listings.
FEBRUARY: Probably the best buyers month of all as the sellers that listed in the fall are now getting worn down and fed up waiting. Buyers should buy now as spring is nearing. Sellers should start thinking and prepare your home for a future listing.
MARCH: Still a great buyers market; nearly the same as February so be prepared to act fast because the sellers season is just around the corner. Sellers, get your home ready for listing now.
APRIL: This is a transition month. I call this an equal market for both buyers and sellers. In other words, no advantage either way. Sellers, this is the month to list your home as sellers months are just ahead. Do not over price!
MAY: Sellers now have the advantage as the desert is heating up and buyers are now thinking about the cool north. This is the best month to sign a listing agreement. Do not over price and make sure you have a right to cancel in your contract in case you don't like the service of your realtor or you change your mind.
JUNE: The start of the great selling season, for sellers; it is a sellers advantage now. Most desert town buyers are being chased out of the heat to the cool mountains and buyers from California are now on their way also. If you are a seller, make sure you are ready to move.
JULY - AUGUST- SEPTEMBER: All great months for sellers' homes to be purchased. They are all about equal. Buyers, be ready to make serious offers and sellers, don't be greedy as these are your best months. Remember, slower months are just aherad. You will normally get the best prices of the year during these months.
Some people may have a need to buy or sell in the months that are not as favorable as other months. It's what is right for you!
These are my thoughts. If you are a future buyer or seller in the Prescott area, you may want to save this article for the future and also pass it along to a friend.
If you have any real estate questions about buying and selling, feel free to call me. Maybe I can save you time and money! (928 533-4455)
Remember, "Experience Isn't Expensive, It's Priceless!" and "Selling A Home Is Easy, Doing It Right Is The Key!"
Lee Amble, Realtor/Consultant
NATIONAL REALTY OF PRESCOTT
Lee's cell: 928 533-4455
Jan's cell: 928 533-4488