Arizona is one of those few states that hold a lot of promise in terms of business, leisure, and tourism, but also is often less talked about. The state also has a booming real estate market in many of its popular cities and counties. So if you reside in Arizona, and you want to know the best time to sell your property, this article will be your guide.
Businesspersons and individuals alike flock in from far and wide to get a taste of what the state offers. And this is nowhere more evident than in the area of real estate. Arizona is one of the best places to horn your craft in the housing market. There are so many opportunities for individuals to sell your house in Scottsdale as well as buyers with extra cash to splurge.
Here we will reveal to you 5 reasons why the summer is the best time to sell your home in Arizona. Stick with me now.
There’s An absolute Growing Demand
Arizona usually records a high demand for homes in the summer. This consequently tightens the supply across all housing markets across the state which of course is great news for property sellers. The higher the demand for homes, the more potential buyers indicating interest in your property. And with the number of offers you will be getting, be sure your property would go up in value.
Because of this tight supply recorded during the summer, there is bound to be lowered competition in the real estate market. On average, it usually takes somewhere around 6 months to sell off a home. And a lot of markets before the summer have a higher supply which makes it easy to flush the market with their homes faster and tightening the competition.
But as summer approaches, this number drops drastically, increasing the demand for new homes. So this is your cue to sell and make some extra buck before the supply increases again.
You Can Expand Your Liquidity Base and Cover Cost
Since the supply is usually tight during the summer, the value on listed properties at these times usually goes up. Many home sellers reap bountifully in net profit when they put they put their properties up for sale. The good here is, when you sell in the summer, you will have more extra cash to make a down payment on a new, often bigger property as well as other few expenses. This also adds to credit score which of course qualifies for a mortgage especially since mortgage interest rates keep rising.
Families Usually Buy In The Summer
The summer usually offers the perfect window for families who want to make a move to a new city. This is especially true for families with children of school age who need to make this move as fast as possible before the start of a new schooling session in September. Also, people love to take their leave of absence from work in the summer and go on vacation. Consequently, the demand for vacation homes goes up during this period as well. This makes it one of the best time to sell.
Taking Advantage of Landscape
The heat of the summer usually makes it difficult for plants to thrive since roots require cool soil to maturate properly. Most times, the landscape around homes usually appears withered and unattractive. This is even worse with listed properties with no one to take care of the plants in the yard.
You can take advantage of this opportunity to invest in your landscapes by doing some artificial enrichment to take so you can grow lush plants. Attractive landscapes always have a far higher chance of drawing in potential buyers in Arizona to your properties during the summer.