The best time to sell a property is the first six months of the year when demand is high and inventory is low. For the past three years the second week in January is when the real estate market takes off. Prices begin to rise, demand increases, and inventory is low. Inventory and prices continue to rise and peak out by July. The chart below shows the inventory in Newport Beach over the previous three years.
We can also see the same results for all of Orange County by the chart below. Orange County Inventory Jan 2013 to the present.
Below we can see the demand over the past year with the amount of properties being sold each month. The demand rises the first six months of the year, peaks in July and falls the last six months of the year.
Again we can see how all of Orange County follows this trend over the past three years with the amount of properties being sold each month. Rising in the first six months, peaking in July and decreasing the last six months of the year.
On a smaller scale I have recognized this trend in my own transactions over the years. Buyers looking in the first quarter are anxious and want to find a home before summer. As we enter summer, more properties hit the market and it becomes a buyers market.
If you’re planning on selling this year please keep this in mind so that we can time the market in your favor.
Read my previous post on my forecast for 2016 http://travwhite.com/expect-big-gains-in-2016/