Everyone thinks that the Spring and Summer are the busiest times of the year for Central North Carolina Real Estate Agents.
But, really it is Spring and Fall. The Summer market is always somewhat of a lull. It is nice and consistent. However, the fact is that renters just don’t buy. Some do, but most do not. They just like to rent a condo or home on the beach and come down to enjoy it fully. With no responsibility of ownership (and, no rewards either). Since there are mostly renters here during the Summer, it creates a very awkward time of the year for real estate agents. There are tons of people in town as it’s the busiest time for tourist, but sales are not “on fire” like Spring and Fall. Don’t get me wrong. There are sales happening during the Summer months, lots of them. It’s just that there is a 2-3 week window during the Spring and another one during the Fall in which the market goes completely insane.
Why does the market catch “on fire” during the Spring and Fall?
Well, most buyers here in the Central North Carolina market are looking at rental income potential. Most are families looking for a place to call their own when they come down to visit and rent out to other vacationers the rest of the year. Since part of the buying reason is rental income, buying in the spring gives them the opportunity to close on the transaction just as the heavy rental season begins. Thus giving the new buyer a heavy stream of income from the property starting the day they buy it. This is why we see a big push in the market in the Spring. Buyers try to time the market to maximize their rental income for the year that first year of ownership.
But, why the Fall?
As I said earlier, the Summer slumps a little every year due to renters not buying, people enjoying their vacation and families getting ready for the next school year.
What you have to figure out about this market is, who are the real buyers and what time of year do they visit the area? Well, people who buy in Central North Carolina are either people who have already bought before (current owners) or people who have visited here enough to know when the best times of the year are to visit. According to the locals and many out-of-town owners, the best time of year to visit is the Fall. This is because the weather is the best (as in not as hot, but very nice and breezy), and it’s not near as crowded so it is easier to get around and enjoy the area.
So, as the people who actually buy property in Central North Carolina come down more so in the Fall, this presents a really good time to sell. Also, going into the Fall as a buyer, you have plenty of time to get your new condo or home ready for a Snowbird and/or Springtime renters. You can fix it up to the way you want it without feeling pressured by time.
This presents an incredible opportunity for sellers who want to receive all the summer rental money and still sell for a great price. The only problem is that most sellers are not aware of the time window the market presents. We never know when the Fall Rush will hit, but when it does, it will only last 2-3 weeks. After that, you are in the winter market, which is always a hit or miss until Spring.
If you want to take advantage of the Fall Rush market, you must have your property on the market before the rush starts.
Before choosing your real estate agent, please call me…
I grew up in Wilington, North Carolina and now live in Central North Carolina since 1994. I have been selling condos and homes in Central North Carolina. It is my passion and I love to help people. Contact me anytime. 919-614-6288.