Summer means a lot of things here in Chicago – icy glasses of lemonade, long jogs along Lake Michigan, and, for the agents of Real Group, it means plenty of home sales.
While we generally think of spring as the hottest time to sell, the summer season is still a bustling time for real estate, as plenty of people look to move in and out of properties before the cooler fall and winter months hit. Of course, there is no perfect time to sell a home, and summer will have its own unique set of challenges for consumers trying to sell.
Thinking of selling this summer? Here are the pros and cons you need to know…
CON: Lots of People Go On Vacation
While the warm months may seem like the perfect opportunity for open houses and showings, the fact is, many people use the summer months to leave town and have adventures of their own. This may result in some hiccups for your home sale, and you may need to work a little harder to schedule around your agent’s busy schedule and the summertime plans of your prospective buyers.
PRO: Sales Actually Sizzle in the Summer Month
While it’s true that there are plenty of distractions and diversions in the summer month (as anyone with kids out of school can tell you), the fact is that, by some metrics, June actually sees the highest volume of home sales, with prices peaking in May and home inventories climbing in July and August, This makes sense; Buyers begin their search during the spring thaw, then close the process in the early summer. Talk to your Chicago real estate agent about seasonal swings in our area; You may be surprised at the data they can show you!
CON: Buyers Can Be Pickier
As inventories grow in the August dog days, the market tends to shift in favor of the buyer. As Realtor.com explains it:
“With more houses on the market, buyers can afford a bigger wish list. If your home needs repairs, buyers might simply pass. Add in the fact most buyers aren’t shopping under pressure (as they might be during the off-season), and you have a pool of selective shoppers.”
With this in mind, it's important to help your home stand out as more and more properties continue to sit in the marketplace. And the best way to do it may just be...
PRO: Ample Curb Appeal
Why do we love summer in Chicago? The weather, of course! Long, sunny days and cool breezes make a huge difference on the mood in our city – and they can have a huge impact on your home sale. The summer months are the perfect time to showcase your home’s curb appeal with a freshly mowed lawn, a beautiful garden, and plenty of inviting furniture placed on your deck, patio, or balcony. Use the weather to your advantage, because, on the other hand...
CON: Hot, Sticky Weather Can Kill Sales
Many homes sit vacant for long periods during a sale, and it’s important for you and your real estate team to make sure the home stays cool and functional during the summer months. Before the warmest weather hits, have a qualified professional take a thorough look at the home’s HVAC and plumbing systems to make sure that visitors – that is, potential buyers – are able to see the home at its best.
PRO: Lots of Chances For Unique Staging
During the summer, staging is more important than ever. Use summer accents and tableaus to make your home seem like a pleasant oasis, an ideal place to wile away the warm months with family and friends. If you have a pool or Jacuzzi, include fluffy white towels and beach chairs to create a luxurious, spa-like effect. Set up lawn games in the backyard to showcase its potential for fun, put out ice cold pitchers of water and lemonade, and change out your blinds and drapes to get the perfect summery lighting.
Whatever the weather, Real Group is here to help! Our experienced team knows all the ins and outs of how to buy and sell across Chicagoland. Drop us a line today to get started!
