With spring in the air, notions of fresh starts and new horizons have a way of pushing into just about everybody’s consciousness. It’s only natural, whether because of the weather, school schedules, or everything else around us that seems fresh and new. And something else is in the air, too: if past history is any guide, now is also simply the most popular time of year to sell or buy Santa Barbara and Montecito property.
For those with a home to sell, this is traditionally the most active time to be in the real estate market. Homes entered in Santa Barbara property listings during springtime can be expected to attract buyers more quickly, and they stand a better chance of fetching a good price. With 60% of moves in America taking place during the summer months (most likely a reflection of the school year schedule), it stands to reason that spring is a great time to get your Santa Barbara property onto the market.
For potential homebuyers expecting to shop for a new home sometime this year, there is ample reason to swing into action sooner rather than later. Santa Barbara and Montecito property listings can be expected to conform to the national trend: at a rapidly rising rate, Realtors® expect constant or higher residential prices in the coming year (73% vs. 62% just three months ago, according to the NAR). Following the past few years of price declines, it won’t be surprising if the market’s recovery brings a rapid rise in prices. Then the bargains people have begun to take for granted could quickly become tomorrow’s regretful “I could have bought that house for only $---” stories…that happens again and again. Those who know they are going to be in the market this year should seriously consider getting in the market!
For both buyers and sellers, spring is the most popular season for a number of reasons. Especially for families with kids in school, or anyone whose business is geared to encourage summer vacations, it’s also the most sensible time to act.