When do properties sell? March and April and May constitute the heart of the spring market and the busiest time of the year in the Cambridge and Somerville real estate market.
The pace of sales slows in the summer months of June and July and August. That said, there is still activity in the market in these months. Indeed, a pool of new buyers who will be at MIT or Harvard often enter the market at this time, with the idea of being settled before the new school year in September.
The fall market runs from just after Labor Day until mid November. With summer vacations finished and folks back in the saddle for the new school year, the fall market is a time of increased activity for those buyers still looking to close before the end of the calendar year.
The winter market is the slowest time - November and December and January. The holidays and darkness early in the evening generally mean fewer properties for sale and fewer buyers looking to buy. Now and then, a buyer can get a bargain in the winter market.
The new year brings the early advent of the spring market. Late January into February is a transitional moment in the market. Depending on the weather, the winter market can drag on or the spring market can get an early start. This is an interesting time for a buyer to be lookiing, as there is generally a bit less pressure.
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See answers to common real estate questions at AskCharlesCherney.com
Check out the Cambridge Somerville Buy Sell Report at CharlesCherneyBuySellReport.com