By David Arbit on Friday, August 4th, 2017
Given the fact that the school year is about a month away (yikes) and we’ve already had our first preview of fall weather, it feels like a good time to talk about seasonality. First of all, whatever you do, don’t use the term “seasonably adjusted.” Second of all, don’t make matters worse by talking about the “seasonably adjusted medium sales price.” That’s not a thing.
All kidding aside, both agents and the public have a vested interested in knowing how and when listings, inventory levels, purchase agreements and closed sales ebb and flow throughout the year. Ever been asked the question or wondered “when do the most new listings come on the market?” Or “when do buyers write the most offers?” Or how about “what month tends to have the greatest number of homes for sale?”
These are legitimate and important questions that can inform a variety of market-related strategies. Technically, April sees the highest volume of new listings, but buyers have the greatest number of choices in July. Signed purchase agreements peak in June along with closed sales. The shape of the seasonal curves can also be revealing. Seller activity tends to ramp up quickly in March and April and then quiet down rapidly starting in October. New listings are front-loaded in the first half of the year. Buyer activity, particularly pending sales, tends to follow more of a “normal” or even distribution throughout the year.
- Mixed Spring: Activity cools while prices, market times remain hot
- Congratulations to our 2018 Scholarship Recipients
- Q1 – 2018 Home Payment Report
- What’s this about 4-Plexes in Minneapolis?
- Sales down in early spring market while prices rally
- NAR Commemorates the 50th Anniversary of the Fair Housing Act
- Pat Paulson Named 2018 Minneapolis Area REALTOR® of the Year
- Sluggish start to 2018 after a record 2017
- MAAR Seeks Realtor Emeritus Members
- Super Bowl week is here!