Summer is in full swing, as 4th of July is quickly approaching. How does the summer bode for the real estate market?
Well, we have 2 competing phenomenons going on at once:
First, we see the mass onslaught of  families looking to buy & sell property before the new school year begins. It is a motivation-rich time that brings many buyers & sellers together because they have a common goal.  Both on the move & both highly compelled to have the transaction completed by a certain time.
The second set of conditions, is VACATION!
Many open houses see a dip in attendance because so many people take vacation during the summer & might be elsewhere.

So, these to factors converge to make an environment that is fast paced with a lot of volume being bought & sold but open house attendance is sometimes lower than other times of the year.

Not to worry. If you’re one of the people that thought you listed your house for a good price, why hasn’t it sold yet? The answer is there is something called an absorption rate.
The absorption rate is a market indicator, projecting the anticipated time it takes for a home on the market to sell,  according to metrics of inventory.

Some variables impacting a sale are: interest rates, local inventory, location of home (main road or not?), days on market & listing histories. The absorption rate is a predictive equation to ascertain the number of months it will take to sell a home in a particular market.

A good idea is to anticipate your sale & prepare before the Spring Market rush, so that you can build into your desired closing date, enough time to find your buyer.