June tends to be a bustling month in the real estate scene with many individuals buying and selling properties. If a move is in the works for you and you're eyeing this month to make it happen, here's a quick rundown of what you should keep in mind to ensure you're prepared.

If You’re Buying This June

Late spring into summer is a popular time for homes to change hands because many homebuyers with children prefer to move after one school year ends and before the next one begins. Whether this is a motivator for you or not, it's essential to be aware that more buyers will be looking right now, leading to increased competition. However, the advantage of moving this time of year is that more sellers will also list their properties, providing you with more options. According to an article from Bankrate, this increased inventory can work in your favor.

““Late spring and early summer are the busiest and most competitive time of year for the real estate market. There’s usually more inventory listed for sale than other times of year . . . This is a double-edged sword for a buyer, as you will be met with more opportunities but [also] much more competition.”
”

— Bankrate

In this bustling season, it's crucial to collaborate with a reliable real estate agent. Your agent will assist you in keeping up with the most recent property listings, provide valuable advice on submitting a competitive offer in today's market, and offer insights on the actual value of a home to ensure you make a well-informed purchase decision. According to a report by Forbes:

““Approaching the market confidently, armed with good information and grounded expectations will take you far. Don’t let the hustle of the market convince you to buy something that’s not in your budget, or not right for your lifestyle.”
”

— Forbes

If You’re Selling This June

With more buyers in the market this time of year, you're in a good position as a seller. Many of these buyers are eager to seal the deal before the new school year starts, so they may make competitive offers. If your house looks great and is priced appropriately, you could sell it quicker or at a better price. The National Association of Realtors (NAR) confirms this trend.

““Warmer weather and the end of the school year encourage more people to buy and sell, respectively. Buyers are looking to move and settle before the new school year begins, contributing to increased competition and, consequently, higher prices.”
”

— National Association of Realtors (NAR)

When you're dealing with offers and negotiations, it's crucial to have a skilled agent by your side. They can assist with contingencies and ensure you choose the best offer. Reviewing closing dates with your agent is essential. Depending on your location's school calendar, buyers aiming to coordinate their move with the school year might have to adjust their timeline.

““ . . if your house goes under contract in early summer, the buyer may ask for a delay in closing or move-in until the school year finishes or their current home has sold. Alternatively, a buyer later in summer may be looking to close quickly and move in under a month. Remain flexible to keep the deal running smoothly, and your buyer may be willing to throw in concessions, like covering some of your closing costs or overlooking the old roof.”
”

— U.S. News Real Estate

Bottom Line

If you're considering a move this June, let's connect to discuss what you can anticipate. We will develop a strategy that considers the present market conditions while also aligning with your needs.