Let’s Ask Katie
Expert Advice for all your Real Estate questions from Katie Machoskie
Hi Katie,
My neighbor told me the best time to put your house on the market is when kids go back to school. How could the school year affect me selling my house in Newport Coast?
Stan B, Newport Coast
Hello Stan,
As summer winds down and the school year approaches, many families find themselves thinking of buying and/or selling a home. The back-to-school season presents a unique opportunity for both buying and selling homes. During this time, families often reassess their housing needs based on school districts, daily commute times, and community amenities, which creates a dynamic market environment. Additionally, as kids grow up and head to college or careers in other parts of the state or country, many families sell to buy multiple smaller homes in various locations or diversify with a rental income property or two!
For sellers, this is an advantageous time to sell, as many families hope to settle into a new home before the school year. Properties located in desirable school districts often receive more interest and can command higher prices. The sense of urgency many buyer feel because the hope to close on a home before the academic year begins boosts competition, sometimes resulting in faster sales and favorable terms for sellers.
On the buying side, potential homeowners benefit from an increased inventory during the back-to-school season. The families who delayed summer moves rush to settle down, and new
listings become available, offering a wider range of choices. Additionally, buying during this time can mean fewer market competitors, as buyers not affected by the school year may have already completed their transactions earlier in the spring or summer.
In summary, the back-to-school period is an ideal time for both buyers and sellers to engage in the real estate market, and leverage the timing and motivations of families to their advantage.