Spring Market

Defining Spring Market

In our area, Spring Market unofficially begins in February, peaking between March- June.  The timing varies by state based on the school calendar.  The reason there is such an increase during these months is that parents want to find, buy, and be in a home prior to the start of the next school year.

Closings times vary based on circumstance and contract conditions.  However typical sales where mortgages are used take 30 days- 3 months.  This time frame can increase if there are inspection issues, title issues, or if the buyer needs to sell a current home prior to the purchase of their new house.

Is Spring Market The Best Time To Buy?

There is the most inventory during spring market.  However this is also the most popular time for prospective buyers which means this also means this is when there is the most competition.

As a buyer if you’re not in a position to make a strong offer, meaning you have a lower budget, you need additional time to close, or require concessions, it may not be the best time for you.  However if you are ready willing and able to purchase a home and you are looking for your perfect fit, spring market will give you the best odds of finding the one that is “just right”.

Should I Sell In Spring Market?  

Right now it is a seller’s market.  Non-luxury homes in Bergen County priced at market value will receive multiple offers.  As Realtors we use this to drive a bidding war to get the highest price and/or most favorable conditions depending on the seller’s preference.

Yes, as a seller it is advantageous to list in spring market because that is there are the most buyers.