Question:

We're in the process of selling our home, a property located in a market that can quickly turn hot or cold. What are the best seasons for selling? I've heard August was bad because buyers, sellers, agents, and brokers are on summer vacation. Anything during the holiday season is also bad. Can you confirm this?

Answer:

I understand that there seem to be "slow" times of year in many local markets -- but I'm not sure this is actually the case. Let me explain:

During strong selling seasons you have a lot of transactions, during slow selling seasons you have fewer transactions. However, the volume of transactions really does not tell us whether a market is strong or weak -- what really counts is how long it takes to sell a property and whether asking prices are being met, nearly met or exceeded.

Example: In the hot marketing month of May there are 1,000 transactions in a given area, a typical home takes 30 days to sell and sale prices are within 2 percent of asking prices. In the cold marketing month of January, there are only 200 transactions but the sale time and prices are the same as May. In this situation a home in either month would sell just as readily.

The bottom line is this: It makes sense to sell at any time of the year, as long as the volume of buyers and sellers is fairly well matched.

Written by Peter G. Miller August 12, 2005 

90245, 90266, 90254, 90277, 90278, 90503,90504, 90505

Homes, Real Estate: El Segundo, Manhattan Beach.

Hermosa Beach,,Redondo Beach, Torrance, Palos Verdes