How different seasons affect the housing market in the Cleveland, OHIO

I've lived in the Mid-west for two years of my life bounced between Minneapolis, MN and Cleveland, OH, prior I lived in sunny Australia where all you worry about is "I will die from the heat" or "It's cold I better put on a jacket and scarf" weather. 

Moving to the Mid-West I now know that there exists four seasons. Fall, Winter, Spring and Summer. Sometimes certain seasons will over stay their welcome too.

I live in Cleveland OHIO, below are the average temperatures taken from www.weather.com

As an active investor and full time Realtor, I am constantly asked when is best time to buy or sell my home? 

First and foremost, the disclaimers. I am solely focusing all my data in the Cuyahoga County and all data has been taken from the NEOHREX MLS. The views express are my own and are extracted from from the plots and my professional experience working with clients.

The following plot shows the Cuyahoga County boundary

The numbers of Active Listings has historically always been higher between the months of April and September. As the weather starts to warm buyers start hitting the streets for their future property. let's not forget tax returns are being issued at this time, this further helps  the home buying process.

The number of sales are at their lowest in January and February. Some of the coldest months in Cleveland OH. Those that brave the element and buy during this time will be reward for their bravery. It's a free for all coming May through to September, large number of sales are occurring every month. 

The most important element to every buyer and seller, the final sale price. Remember those winter warriors that rugged up and purchased in Jan and Feb? Well they were the winners, historically buyers have much more negotiation power with getting the lowest prices in the year! Forget black friday sales, you have first Q1 home sales. Sellers should take advantage of the cold thou, if your home needs repairs inside start using those months to get your home picture prefect. April/May is when you should start considering listing your beautifully decorated home. Sellers should expect maximum dollar during the months of June and July.

Seller know your worth, June and July your Realtor should be informed what is happening in the market. Sellers you should be getting some very nice offers coming your way. On the flip side, Buyers it's cold and never fun to be outside in Jan and Feb, but if you wait for the weather to warm up you will pay for it out of your pocket. You're looking to pay fought an extra 1-1.5% on your future home.

Buyers not to mention a higher price but homes are moving a lot quicker in Summer. Sellers Jun - Aug will see your home move the quickest.

As the year comes to a close and January only 3days away, if you are wanting to get into the market there is never a bad or good time as long as you enter. BUT there is opportunity buyers should take advantage of, sadly it's when you least want to be outside. If you are brave, your efforts should be rewarded. Based of the historical data, you will get a lower price home or have more negotiation power than if you were to wait till the snow melts. 

Sellers should prepare an action plan, you are spending more time indoors so put that time to good use and get your home ready for the market. If things around the house need to be repaired, jump on youtube and find out how to update your bathroom, shop online for the latest bedroom colors/trends. You want to make sure that you are ready before June to list you property with a knowledge Realtor in your market.

If you have any further questions about this post, or are considering selling/buying in the Cleveland market. Feel free to reach out to myself.