TO:
All Agents
DATE: June 1, 2007
SUBJECT: Spring
Came Late
This year I have noticed an interesting
phenomenon. Listing season seemed to start late, and April was
slower than usual. May, on the other hand, has been busier than
April, and there are still lots of listings coming on the market.
It’s hard to know why that is, but I read an article over
the weekend that the same thing has been true in New Jersey.
My guess is that it was caused by winter being back loaded this
year; that is, December and January were very warm and without
snow, while our big storms were in March and April. We also
had two holidays at the beginning of April, plus spring vacations,
for the first time I remember, were spread out into every week
of the month.
I guess it doesn’t matter why it
happened. It only matters that we let our sellers know that
there’s still time to list and catch the end of the spring
market. We should also tell our buyers that, although the media
is calling this a buyers’ market, there seem to be spikes
of activity on houses that have been around a long time. Therefore,
they should be careful about making low offers on places that
have been on the market for months or years. We just had a multi-offer
situation on a property after two and a half years on the MLS.
It’s hard to believe when you hear there’s another
offer, but it’s turning out to be true at least some of
the time.
So it’s too soon to call this year
a slow one. That’s good news for those thinking of selling,
and good news for all of us. Now that we’ve hit summer
weather, we just have to keep up the pace!
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