If the stereotype of a Spring Real Estate market is that new listings are blooming, then the summer real estate market is usually a slightly different story. Typically, summer has a few quiet weeks followed by a deluge of listings from sellers who are back from their vacations and ready to sell before the school year and fall begins.
What is the tale of this 2023 summer market?
Right now homes are selling more quickly than they were at the beginning of the year, but not as quickly as they were during the peak months of 2020 or 2021. The median days on market is down to 18 days, a little over two weeks, which is a healthy pace for inventory to move.
Realtor.com reported that “on average the active inventory in June was 50.6 percent below pre-pandemic 2017-2019 levels”. If you are one of those homeowners who is concerned that your property needs too much work, is a fixer-upper, or that it is just a unique property, then this is the type of market where your property can shine.
Often sellers think that they have to remodel the kitchen, landscape the front yard, or paint to put their home on the market. Before you start any repairs, call a KALEO agent, and they can sit down and discuss your game plan and timeline and see what (if any) improvements are necessary before putting your home on the market.
Whether you are considering selling or trying to work towards a 1-2 year plan towards buying your first home, second home, or investment property, please reach out!
