As real estate changes, smart homebuyers and sellers look for new tips. They want to understand the changing market. And what if there’s a special time that helps sell homes better? Is June 2024 the chance to make your real estate dreams come true?

In June, selling your home might bring in more money. A Zillow study found homes sold for 2.3% more in the first two weeks of June 2023. This means sellers made an extra $7,700 on average.

Spring and early summer are great times to sell. Homes sell for 0.5% to 1% more than normal in these months. But in the winter, prices can drop by about 2%. June 2024 could be a big month for selling. Mortgage rates are expected to go down for the first time this year. Lower rates mean cheaper monthly payments. This might bring in more buyers who thought homes were too expensive. Yet, how much more you could sell for depends on where you are in the country.

Key Takeaways

  • Sellers who listed their homes in the first two weeks of June 2023 saw a 2.3% increase in sale prices compared to other months.
  • Late spring and early summer are the best time to sell a home, with a 0.5% to 1% increase in sales prices.
  • June 2024 is expected to be a standout month for home sellers due to anticipated mortgage rate cuts.
  • The size of the price premium can vary across different real estate markets.
  • Falling interest rates could bring back buyers who were previously priced out of the market.

The Best Time to List Your Home

Zillow looked at its 2023 listings and found a trend. Homes listed in spring and summer sold for more, by 0.5% to 1%, than the yearly average. June was the best month for selling homes. In winter, sales prices dropped by about 2%. The reason June stands out is because more people look for homes when mortgage rates are low.

Data Showing June as the Ideal Month

In 2023, 30-year fixed mortgage rates started high, at 6.35%. They went higher, reaching 6.79% by May. This scared some buyers away. However, in June, rates dropped back down to 6.67%. This drop likely encouraged more people to buy homes. The upcoming 2024 season is expected to be similar, with June being a good month to sell. This is because experts predict the first drop in rates to happen then.

Higher Sales Prices in Early Summer

Looking at 2023 data, Zillow found that selling prices were higher in spring and summer. They increased by 0.5% to 1% more than the average, praising June the most. Winter sales prices saw a decrease of about 2%. June’s boost might be linked to buyers wanting more homes when rates are affordable.

Prepare Your Home for the Market

home staging

It’s important to make your home look great to bring in potential buyers. Work on the outside and inside. This means keeping your yard neat and your house clean. Make it a place that both new buyers and those who know what they want will love.

first-time homebuyers

and seasoned

property investment strategies

alike.

Enhancing Curb Appeal

Maintaining your yard is key to making a good first impression. A nicely kept yard with green grass, flowers, and trimmed bushes is inviting. It looks good in pictures and when buyers visit. But, there’s more to it than just mowing the lawn. You also need to plant fresh flowers and keep walkways open.

Best of all, it helps your home stand out to people looking to buy.

Interior Staging Tips

Don’t forget about making the inside look its best too. Get rid of things you don’t need to make rooms seem bigger. Put some furniture in storage. Keep kitchen and bathroom counters clean. This makes your house ready to show at any time.

Fixing up your house can be a good idea, but be careful with do-it-yourself projects. A poor DIY job could turn buyers off. It might make them worry about the rest of your house. So, getting professional help for certain updates can be smart. It might help your house sell faster and for a better price.

Understand Buyer Timelines

Many buyers are keen to buy a home now because interest rates are low. But, buyers, especially those with kids, might have specific timelines. They could want to delay moving until their children finish school or until they sell their current house.

Or, someone wanting to buy in the summer might be in a hurry. They might aim to move into their new home within a month. Being flexible with these situations can make things easier for everyone. Buyers might even be ready to help with closing costs or overlook small home issues.

School Year Impact

The school year greatly affects buying a home for many families. Some prefer to buy and move in summer to not disturb their kids’ school life. Others time it to buy when the school year ends. Understanding these needs can make the buying process smoother for both sides.

Local Market Variations

Housing markets are always changing. This makes each city’s real estate scene unique. While national housing data is good to know, focusing on the local market is key.

The time it takes to sell a house changes during the year. This occurs as the market can slowly favor either buyers or sellers.

In June 2023, homes spent a median of 29 days on the market. This is 11 more days compared to the previous year. However, it doesn’t always mean there’s a problem with the home or its price.

During June, the extra money buyers paid varied a lot. San Jose saw a big 5.5% price increase, which meant $88,400 more for each home. On the other hand, San Antonio only had a 1.9% increase, equal to $5,400 per home.

City Price Premium in June 2023 Additional Price per Home
San Jose 5.5% $88,400
San Antonio 1.9% $5,400

Being patient and flexible is important when selling a home. Even if it takes longer than you hoped, the right buyer will come. Staying focused on the local neighborhood, home value, and selling strategies is essential for real estate agents. This helps them guide their clients to the best results.

Landscaping Matters

Making sure your yard looks good is key to impressing people looking to buy your house. Lush green grass and blooming trees make your home’s outside look great in photos and when people visit. But, relying only on nature is not enough.

Don’t forget to cut the grass, add new flowers, and keep bushes away from paths. This care really boosts how your home looks. It grabs attention and draws in potential buyers.

Landscaping Project Return on Investment
Lawn care services 267%
Landscape maintenance and tree care 100%
New pool 43%
Lawn care service 352%
Mature trees 3% to 15% increase in property value
Mulch 126% recouped upon closing
Outdoor kitchen space 83% of amount spent
Potted plants Cost-effective way to enhance curb appeal
Flower beds Quick way to brighten up areas
Automated irrigation system At least $3,000

Smart selling and buying strategies can really help. Take good care of your lawn. Add beautiful plants and choose easy landscaping options. The right moves can improve your home’s value and how much people like it. This can lead to selling your home quickly and for a good price.

Real Estate Tips: Days on Market Expectations

No one wants their house on the market for too long. Yet, waiting a few weeks or months to find the perfect buyer may not be bad. The median days on the market across the U.S. changes during the year. It moves slower into a buyer’s market. In June 2023, it took homes about 29 days to sell, which was 11 more than the previous year.

This means homes might be selling a bit slower lately. But, it doesn’t always point to an issue with the house or the pricing. Staying patient and open can lead to finding the right buyer, even if it takes longer.

Recent data shows that the median days on the market went up in June 2023. This increase hints at changing real estate market trends. It doesn’t mean there’s a problem with property valuation techniques or home selling strategies.

Knowing about these market changes helps sellers. They can adjust to the real estate landscape better. This way, they can make sure their home gets the right buyers, even if it takes a bit longer than they first thought.

Pricing Strategies for a Quick Sale

In many places across the U.S., the real estate scene is changing. Now, it’s not about getting many offers or selling over the list price. Real estate agents are suggesting lowering the asking price to attract the right buyers. This change happened because the number of buyers has gone down, and there are not many houses available. Experts have pointed out that mortgage rates are rising, which makes it harder for the real estate market.

Therefore, pricing your home right from the beginning is crucial for a swift sale. It doesn’t matter if you sell it for less than before. Using the right property valuation techniques can help set the perfect price. The NAR reported that buyers usually pay the full asking price. About a quarter pay more than what’s listed.

Setting the price just below market value can attract 75% to 90% of potential buyers. Or, going 10% to 15% below can bring even more buyers, especially for unique properties. But, raising the price by 10% to 15% above market value might drastically reduce your buying audience.

In the end, a detailed Comparative Market Analysis (CMA) is your best bet. It uses recent sales to decide on a fair market price for your home. Going lower in price can help sell faster, appealing to more buyers. Yet, starting higher gives you room to negotiate. However, it might take longer to sell if the price isn’t right.

The Importance of Home Staging

home staging

Staging a home is key before putting it up for sale. It means clearing out, removing personal items, and setting up furniture well. This shows the home’s best features home selling strategies. To make a home more attractive, real estate agents suggest painting, cleaning carpets, and washing the outside.

Some of these tasks you can do yourself. But, if you’re not skilled, it might cause problems for buyers. So, sometimes it’s better to hire a pro. This can give you more profit than trying to do everything yourself.

Statistic Percentage
Buyers’ agents who said staging helped their clients visualize the property as their home 82%
Buyers more willing to overlook property faults if a home is staged Over 25%
Sellers who saw an ROI of 5% to 15% over asking price with an average investment of 1% of the sale price into staging 75%
Increase in sale price on average due to staging Up to 20%
Faster sale time for staged homes compared to non-staged homes 3 to 30 times
Potential price reduction for sellers who decide not to stage the home 5 to 20 times more than the staging investment

Enhancing a home’s best parts makes it look better to buyers. They notice the good and ignore some flaws. Good photos of staged homes attract people, showing the property investment strategies nicely compared to not staged ones.

In California, nicely staged homes are called “well-maintained.” This pulls in more buyers. They’re often called “move-in ready,” which appeals to people wanting to move without much work. Staging speeds up sales and usually gets a better price, making it a smart home staging techniques step.

Cost-Effective DIY Projects

For some small tasks like repainting rooms, DIY is a smart choice. It helps get a home ready for sale without costly pros. But, when you do it yourself, do it right. A bad job could turn off some buyers.

Approach DIY with care. Use the same tools and tricks real experts use. This way your home will shine, and you’ll save money.

When to Hire Professionals

Some tasks at home you can do yourself, like painting or simple repairs. Yet, certain upgrades need a pro’s touch. Take bathroom or kitchen makeovers for example. Professionals can make these areas shine.

If you try a big job like this and it looks bad, it may scare off buyers. They might wonder about the rest of your home’s quality. Paying a professional is smart in these cases. It makes your home more attractive to home buyers.

Thinking of selling your home? Experts say it’s wise to get pros for key jobs. This is crucial for your home selling strategies and to attract first-time buyers or investors. Professional renovation work can really boost your home’s look and appeal to many more people.

Navigating a Shifting Real Estate Market

The real estate market is changing a lot lately. At first, we had really low interest rates because of the pandemic. But now, those rates are going up fast. This has caused fewer people to take out mortgages. It’s tough for real estate companies because of this and the low number of available houses.

Lower Buyer Demand Forecast

Experts say we might see fewer home sales for a few years. This is because of the quick rise in mortgage rates. Glenn Kelman, the CEO of Redfin, said, “Mortgage rates increased faster than ever before. So, we might see a long period of fewer home sales.”

Inventory Challenges

Now, nearly all the markets tracked by Fortune have fewer houses for sale than in 2019. This makes it even harder for buyers. With fewer homes but not enough buyers, real estate agents need new plans. They have to find ways to deal with this changing market and still keep their clients happy.

Real Estate Tips: Marketing Strategies

real estate marketing strategies

In today’s real estate market, businesses need to change how they market. This keeps them ahead and helps avoid slower times of the year. They can use many strategies to connect with buyers and sellers.

Leveraging Local Events

Being part of local events helps agents become well-known in the community. This includes everything from block parties to charity events. It shows the agent is a local expert and builds trust with potential clients.

Referral Programs

A strong referral program can bring in new clients. When clients recommend the agent, it often leads to a successful connection. This is because the recommendation comes from someone they trust.

Content Marketing with Blogs

Creating a blog offers valuable information and attracts readers. Agents can write about market trends and how to buy or sell a home. Regular updates help with SEO, making the website more visible to clients.

Local SEO Optimization

Since many people look for homes online, a well-optimized website is key. It should have the right keywords and be easy to use on a phone. This helps the site show up in local search results, bringing in more clients.

Google Local Services Ads

Google’s Local Services Ads help agents stand out in searches. These ads share an agent’s credentials and reviews. They make it easier for clients to find and trust them.

Community Involvement

Joining local organizations shows an agent’s commitment and leadership. It’s a chance to meet people, share knowledge, and possibly find new clients. This involvement supports the local community as well.

Client Communication

Being available and providing updates is crucial when working with clients. Quick responses and timely information help build trust. This improves the client’s experience.

Online Reviews

Encouraging good reviews and responding to them shows an agent’s dedication. Positive feedback attracts new clients. It’s a strong form of social proof.

Award Submissions

Winning awards highlights an agent’s skills and trustworthiness. It stands out in a busy market and boosts marketing materials. Awards show the quality of an agent’s work.

Consistent Branding

Having a strong brand image sets an agent apart. It ensures that clients remember them. This should include consistent logos, colors, and messaging.

Conclusion

In the last years, the real estate market has changed a lot. Mortgage rates went up, and there were fewer homes to buy. This made it hard for people in the real estate business. But, they could still do well by using smart marketing tactics to find and keep clients.

They should use local events and referral programs. They need to make educational content and make sure they show up on online searches (local SEO). They must advertise with Google Local Services Ads, show they care about the community, talk often with clients, and stick to a consistent brand identity.

By following these tips and working hard, real estate professionals can do well. Even when the housing market slows down, they can still find success. They can help all kinds of buyers, from new ones to experienced investors, reach their real estate goals .