Central Phoenix Real Estate by Season
It’s not a secret that Central Phoenix and the surrounding areas enjoy more than 300 days of sunny weather every year. Although summers can get pretty hot, by the time fall rolls around the weather cools off while still offering gorgeous sunny days.
It’s easy to see why Central Phoenix and the surrounding areas are great locations for year-round living and why the residents enjoy it so much, but what’s the real estate situation like season by season?
The market can be completely unpredictable so how do buyers and sellers pinpoint when the best time to sell or buy is?
Luckily the team at Phoenix Urban Spaces is here to help. We will break down Central Phoenix Real Estate by season and explain how the market changes throughout the year.
Central Phoenix Real Estate in Spring
The spring season typically runs from March through June. Rain is more common during these months than the rest of the year, but with an average rainfall of seven inches it is still pretty rare and does not last long.
In real estate, spring is considered to be the start of home buying season.
Due to the milder weather, people are out and about and ready to begin the house hunt so that they can potentially be moved in by summer. This means that competition among buyers is high and prices can be driven higher.
If you decide to buy a new home during spring, there are a few things you can do to prepare.
- Find a realtor ahead of time and let them know exactly what you’re looking for.
- Try to get pre-qualified, or better yet, pre-approved for a loan to speed up the financing process.
- Have your down payment ready to go and be prepared for quick changes with short notice.
Spring can be a hectic time of year to buy a home, so it’s important to be prepared. If it’s a sellers market you need to pay attention to your realtor’s advice and you can’t be overly picky. It’s important to move quickly and consider the fact that many other people may desire the home you want.
Central Phoenix Real Estate in Summer
It’s no secret that Phoenix gets hot. In June, temperatures in Central Phoenix begin to exceed 110 on a regular basis and it does not cool off in the evening. In July, it gets even hotter.
Looking for a home during the summer can be difficult due to the heat, but it’s not impossible, because everything that is indoors is very well air-conditioned. Summer is actually a very popular time to go house hunting because many families take advantage of summer vacations to move.
Buying a home during summer allows children some time to make new friends and get comfortable before a new school year starts. That being said, summer is also a very competitive season for real estate.
Just like spring, competition is high and you need to move quickly if you want to grab your first choice. Be prepared for higher prices and don’t expect the seller to lower the price. Also prepare for bidding wars, which can be very stressful. Due to the low humidity, especially in Central Phoenix, be aware that the dry weather can sometimes hide moisture issues in a home.
During the summer months homes look especially appealing because of the flowers, blue sky and overall feel of the season. Hire a good inspector who can check for moisture in areas where it doesn’t belong.
Central Phoenix Real Estate in Fall
In real estate, fall can either be as busy as spring, or it can significantly begin to dwindle. Many families won’t want to move or house hunt in fall, because kids will be back in school.
On the other hand, buyers enjoy fall because the weather is milder, the competition may be lower and they can take advantage of year-end tax breaks. Mortgage interest and property taxes are both deductible from gross income. It’s also nice to settle into your new home before the holiday season rolls around so you can focus on celebrating instead of moving.
Although the real estate market tends to slow down around fall, this doesn’t mean that it’s any less competitive. Remember, just because the news says the market is slow does not mean that people have stopped looking for homes and deals. Real estate is a year-round business and it has its ups and downs like any other industry.
Central Phoenix Real Estate in Winter
Statistically, the winter months tend to be the slower months in real estate. Most people prefer to spend the holidays with loved ones cooking, baking and celebrating instead of walking around and looking at houses or packing and moving.
Central Phoenix is an extremely popular destination for winter because many people like to escape the harsh winters from the rest of the country. Winter temperatures linger in the high 60s and this is significantly warmer and way more pleasant than a snowstorm.
Over winter, competition in the market is significantly lower and buyers can find some of the best deals during these slow months. If you’re available on Christmas Day, it is one of the best days of the year to buy a home, because there will be little to no competition and no bidding wars. Due to the fact that there are fewer buyers, sellers are more likely to accommodate to a potential buyer.
You can lower the listing price or ask for credits. Another benefit to buying in the winter is that realtors can give you more attention because they are not caught up with multiple clients. If you can sacrifice some time during the winter months for house shopping, it can greatly benefit you as a buyer.
Are You Waiting for the “Right” Time of Year?
There really is no right time of the year or a specific season to buy real estate.
It depends on what is important to you as a buyer, how much time you have, your finances and how much you’re willing to sacrifice (or not) for your future home.
It’s more important to keep track of interest rates and pricing, because that is what drives the industry.
Rain or shine, summer or winter she can help you find your dream home…
Connect with Roberta for all your real estate needs!