The public (and most Realtors, for that matter) have always assumed that once the cashmere scarves and puffy down jackets come out, the real estate market goes into a bear-like hibernation until the spring thaw.
A close look at the numbers, though, tells a very different story.
In 2022, for example, although Philadelphia-area sales were about 20% lower in December versus March, the number of homes on the market in December was a staggering 50% lower than in March – meaning, sellers last winter had far less competition (and a far greater sales advantage) than those who waited until March or April to sell … snowplows, icicles, and all.
While every regional market is different, and most regional markets do undergo some seasonal changes, before buying into the hype or playing a potentially expensive game of follow-the-leader, take a close look at the data when deciding when to sell or purchase real estate – you might be surprised what you discover. Or better yet, talk to your favorite local real estate expert.
Happy November!