Looking at Willow Glen housing stats over the last 3 years, you can see seasonality around the end of the year holidays into the first of the year. You can also see a steady climb in average sales prices. Peak month in 2011 was March with an average of $786,166, 2012 was July $812,525, 2013 June $1,035,991, and 2014 so far shows May at $1,113,327 average sales price. Demonstrating a 30% gain in peak average sale price from 3 years ago. Considering the bust creating about an 18% loss in value in Willow Glen for single family detached homes, Willow Glen has clearly recovered and appreciating strong. Equally, the townhouse and condo market gained 28% over the same time period.
Many clients will ask about “seasonality” in our marketplace. When is the best time to sell? The best time to sell is when you are ready to move. In this current market, your home will most likely have an offer within the first week and close with 30 days. This quick sell time is due to low housing inventory on the market and a large buyer demand.
Of course, the next question from a home owner considering selling their home is: “If housing inventory is low, how do I know I will find a home to move to in 30 days?” Fair question, and you can strategize a rent back from the new buyer and consider purchasing with a contingency to sell your home.
Seasonality is truly driven by the market place through supply and demand. Holidays, vacation times, and the beginning of the year when everyone is simply taking time to evaluate the future, create lulls in the market. For buyers, holidays can be a time when there is fewer buyers to compete with on an offer. The same for sellers who do have large family affairs at their home during the holidays, there will be less homes to compete with in the market.
If you are considering selling or buying, timing can play a big role. I enjoy sitting down with clients and help them to clarify their goals and determine the best timing for achieving their goals. In my experience, sitting down 3-6 months prior to buying or selling a home helps to make decision without pressure. If you would like to talk about your goals and options, contact me at 408.406.6035