What are some of the benefits of listing a home in late summer and early fall?
A: â€œWith the possible exception of the end-of-year holidays, there is not a bad time to market a home in San Francisco. We often hear comments that listing a property in summer is not advisable as most buyers are away, and that sellers should list right after Labor Day. Because of this, we usually see an abundance of new listings, and hence, significantly more competition during the first few weeks of September.
In general, there are far fewer listings during summer, and while some buyers may be on vacation during this period, many are still around at any one time in July and August, and are eager to find their new homes. With fewer competing listings, this may be an opportune time for sellers to market their properties.
There are specific properties where our recommendation would be to delay marketing until later September. This applies mostly to properties with exceptional views, which may not be appreciated during the foggy summer months. The sellers of homes such as these are more likely to see an enhanced sales price during San Franciscoâ€™s â€˜Indian Summerâ€™ in October. With our long experience as leading real estate agents in the city, we are able to offer clients advice on this as well as many other questions related to selling or buying properties in San Francisco.â€
A: â€œReal estate is neighborhood and property specific. There are still a lot of buyers looking for homes in late summer.
Inventory is low toward the end of summer and often people wait until fall to list their home.
They fear their home might stay on the market too long and become stale. This can be great news for a seller who doesnâ€™t wait.
The lack of choices for buyers may drive up the price on the homes that are listed.
For a single-family home in a median price range, Iâ€™d advise my clients to put it on the market right away because there are plenty of buyers out there with few alternatives who are ready to purchase.
With a luxury home, Iâ€™d wait until after the Labor Day to list, but use this time to prepare it and reach out to the real estate community to let them know of my upcoming listing.
Similarly, the condo market in South Beach and SoMa has softened, so Iâ€™d advise my clients to wait until a few weeks after the holiday, once the initial listing frenzy has calmed down a little, so they donâ€™t face as much competition.
In short, you need to know the local market and consider your competition in order to make a wise decision about listing.â€
â€“ Matt Heafey, the Grubb Co., (510) 541-1754, firstname.lastname@example.org.
A: â€œItâ€™s always nice to kick off the end of summer/fall market with a great new listing. Buyers are back from vacation and feeling rejuvenated, school has started for the kids and life in general is on the upswing preparing us all for the fourth quarter and year end.
I feel like this time of year in our East Bay market is second only to the spring market and a great time to be engaged with both buyers and sellers.
Buyers, if they are considering a move, would like to be in their new home to celebrate the holidays.
Sellers would like to realize their gain before any potential tax increases in the future.
Interest rates continue to remain low and the stock market has just hit new highs with the Dow Jones topping 22,000. All of these signs are positive for both buyers and sellers to take advantage of the housing market.
So why not check that box before 2018?â€
â€“ Maitri Ratanasene, Paragon Real Estate Group, (415) 215-5505, email@example.com.
Appeared in San Francisco Chronicle, August 20, 2017