Does “Back To School” Really Affect The Real Estate Market??

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According to a 2013 survey by Trulia, two-thirds of adults with a child under the age of 12 have answered that school districts are the most important factor when looking for a home to purchase. Considering that these parents will also want to be settled in and have their child start at the beginning of the school year (as opposed to uprooting and possibly changing schools partway through the year), it is unsurprising that in 2014, an estimated 60% of all houses sold will have been sold between the months of May and August. 

This trend is only expected to rise as more and more Millennials are having families and buying homes. Millennials are looking for good school districts for their children and are less likely to compromise than the other generations. On a Realtor.com survey, 52% of them report that a poor school district is an absolute deal breaker when searching for a home. Compare this to only 31% of all other buyers answering the same. 

However, not all buyers will have children, and home buyers who do not have children are not influenced in the same ways, naturally. They have different moving time frames and different deal breakers. According to Zillow, more than half of home buyers aren’t married and aren’t operating on school timelines. They, obviously, aren’t concerned about living within a specific school district. To sell to this group of home buyers, the best time to list your home is around (and right after) the holidays, in December and January. 

Despite the large amount of home buyers who do not have children, 60% of people who do move into a new home continue to do so in the summer months—keeping spring as the number one season in which to sell a home. 

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With that in mind, if you want to buy a home and children aren’t a factor for you, conducting your home search in the winter months will mean less competition. Statistically speaking, January is shown to be the best month for making an offer on a home. There will be less competition from other potential home buyers and sellers tend to be more motivated, especially if they are feeling financially overextended from Christmas. 

Timing your listing can make or break a home sale, as you want to make sure you appeal to the right audience at the right time without leaving your home sitting on the market for too long. If you have any questions about what time is best for listing your home, I would love to speak with you! For professional real estate service, please contact me at (214) 609-7123 or jtrump@kw.com.

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