Until recently, the spring real estate market began in Rochester on or about the first of March. Then, about ten or twelve years ago, two trends conspired to move the start date to February 21st which then became February 10th. February 10th became February 1st and, for the past five or six years, we’ve been advising our clients that the spring market now begins sometime between January 21st and March 1st. Warmer winters and technology are the reasons-
So much of the local real estate market is driven by the weather. You can expect that showings and offers will both vanish during those first few days in the late spring when the sun is shining and temperatures hit eighty degrees or higher. Conversely, mild January weather and the absence of snow usually mean that buyers will begin to emerge and activity will begin. More temperate winters and an earlier onset of winter bring buyers to the market sooner than we had experienced in the past.
Regardless of temperature or the time of year, buyers are now able to start the process of searching for a new home conveniently and comfortably ensconced in their current residence. If they stumble upon something interesting while online, they now have the opportunity to call up a 3D virtual tour of the interior of the house and, based on that, they can decide whether to schedule a showing IRL. These technologies and opportunities obviously didn’t exist ten years ago and they’ve proved to be a game changer.
So, if you’re thinking of selling, you may want to strategize with your agent about when it would make sense to list. Increasingly, better informed homeowners are capitalizing on these trends and listing in January or February- well ahead of the competition!