Perfect Season to Sell Your Home in Massachusetts
The end of spring and beginning of summer is a beautiful time in Massachusetts. Whether you are living in Quincy, Waltham or Cape Cod, the weather is turning incredible and life is great. While this time of the year is the perfect time to enjoy all the outdoor activities that Massachusetts has to offer, it is also the perfect time to sell your house. The team at Streamline Realty is here to give you the top reasons why late spring is the best season for Boston home sellers.
Massachusetts Home Sellers Love Late Spring
The combination of market factors and timing makes Massachuetts a great place to sell your home in the spring. Not only that, but there are great indicators that the real estate market might be hitting its peak, which is why Boston home sellers should act now. At the same time as the market forces might dictate that it is the perfect time to sell, this also happens to be a convenient time. The real estate professionals at Streamline Realty are here to look at the market forces that make right now the perfect time and the convenience factors.
Market Cues for Massachusetts Home Sellers
The market has seen an increase in home inventory this month. As of May 13th, housing inventory was at 318 thousand compared to 305 thousand the previous week. The amount of ivnentoryb is up 32% from March of 2022. Another cue is that home prices are not climbing at as fast of a rate as they were before. Affordabiluity is now above its long term average. The metric is tracked by calculating the monthly payment for an existing home as a share of an area’s median income. It is expected that some demand will cool and we are seeing price increases start to slow.
Homebuilder confidence hs also started to decline. This could be an indicator that many of the major players believe hte real estate market has reached its peak. Homebuilder vonffidence has seen a steady decline, pointintg to a potential slowdown in the market. This could mean that it’s a great time for Boston sellers to step in to the market. Homeowners have record amounts of equity right now. Selling your home now can lock that equity in to greatly benefit. The equity can be used for other investments, such as buying investment properties like a multifamily home. It can also be used to consolidate your debt or go on a vacation.
Convenience Cues for Massachusetts Home Sellers
Why is now a great time for Boston home sellers? For starters, the weather is great! Nobody wants to move when the weather is bad. Moving is miserable as it is, but doing it in the snow or cold is much worse. You can use the outside as a staging area for moving trucks or for your new place. When roads are covered in snow and ice, moving is always more difficult. This is one of the many reasons why spring and summer are the busiest season for home sales.
Another factor that makes spring and summer a convenient time to sell your house in Massachusetts is the end of the school year. Families do not like uprooting students during the school year, especially if they have to change schools. Moving over the summer allows them to start school in the fall and not have to enter a new classroom mid-year. Consistency for school-aged children is important for kids and parents, especially after the disuprtions of the pandemic. This is why many parents will choose to sell their home or buy a house during the summer as opposed to the school year.
Convenience is an important part of the moving process for buyers and sellers alike. Buyers want to easily transition into a new home without the worry of slownig down their work or social life. The weather also has a strong impact on the ease of moving. For sellers, you want to sell your home in the most streamlined way possible. Troubles that your buyer face are also troubles that you may face. This is why it’s the most convenient time to sell your home. Everyone is ready to move and the weather is great enough to do so easily.
Final Thoughts
Homeowners have been in the driver seat for the past couple of years and home buyers have been playing catch up. However, this could all change in the near future. Any homeowners who are thinking about selling now might regret not having sold their house if in fact we transition to a buyers market. All of these cues, from a market and convenience perspective, point to a change in the real estate market. There has not been a better time this year to prepare for selling your home. Streamline Realty is here to help! Contact us today to assist you with selling your home. It’s the perfect season to start a new chapter for you and someone else.
