Do you know the definition of Summertime Blues? According to Urban Dictionary, it is the realization that summer is coming closer to an end. During the last week of Summer you try and cram everything from the list in, but most likely miss. Often Summertime Blues occur during the days preceding labor day, and as such mark a saddening time on a persons’ life – this is because after labor day basically summer is over. Everyone after labor day returns to their prior engagements such as work or school. As we know, summer is the best season because you can do nearly everything and nothing. There is no official cure for the summertime blues, as it’s inevitable.
Like the Seasons, the Market is Cyclical
In real estate, we experience a form of Summertime Blues. Our real estate market is cyclical and it is seasonal. As Realtors, we can’t help but get a little blue when busy seasons and busy cycles begin to wane. Granted, we represent clients all year long, but summer is one of the best times to sell and to buy. People are more likely to transition when the kids are out of school and before the beginning of the fall school season. And, very few people want to move over the hectic holiday season. Spring typically marks the beginning of what is normally the most popular time to list a home and things really get hopping in the summer. In fact, on Oahu, the highest number of recorded sales is in July.
Realtors aren’t the only ones who find themselves crying the blues. Sellers who missed out on the prime selling season often regret not listing sooner. Buyers who sat on the fence too long sing the blues about having to move during the school year or over the holidays. Summertime Blues may not be avoidable when it comes to the end of your vacation and leisure time, but you can avoid the real estate Summertime Blues. How? By watching the market closely and timing your real estate sales based on strong market seasons and cycles. There are exceptions to everything, of course. Today’s hot market doesn’t seem to pay all that much attention to the time of year. Right now, we have one season — a hot one! But, eventually like summer, our current market will come to an end.
Not Always Predictable
Unlike the seasons of the year, real estate seasons aren’t always predictable. Ultimately, your decision to buy or to sell depends more on your personal circumstances and real estate goals, than it does on the time of year. Still, if you have a choice and the time seems right for you to make a transition, summer is a great time to make a move. Whatever you decide to do (or not do), summertime is always a great time of year. It’s a great time to sit back, relax, and to enjoy your family and friends. It’s also a great time for music, so here’s to a little Summertime Blues that we can all enjoy!