Summer real estate

These Top Summer Real Estate Trends are Heating Up the Market

21 Jun, 2024

Summer is officially here, which means the summer real estate market has arrived! Experienced real estate professionals understand how to leverage the changes in the housing industry to increase their business. Here are some top real estate trends both real estate professionals and homebuyers and sellers should be aware of this summer:

The Need for Technology

Tech-savvy homes are a must. Home buyers are looking for homes with smart home technology, security systems and other innovative features. This summer, encourage your sellers to showcase these features, or consider upgrades. And be sure to highlight homes with technology to your buyers.

Summer Home Buyer 101

Real estate professionals should steer their buyers in the right direction to help them make a move this summer. Here are some tips to encourage them:

  • Buyers should be pre-approved for a mortgage: Rates are staying around the 7% mark, so it is important homebuyers understand their budgets and establish financing early.
  • Be ready to move: Competition heats up in the summer months, so have your buyers ready to make an offer as soon as they find a property they are truly interested in.
  • Look towards the future: We may not have a crystal ball, but buyers should think about what they are looking for down the road—we all have changing needs—so find them properties that fit their future possibilities.

Summer Home Seller 101

The sellers that are hitting the market this summer are eager to make get their homes sold while making as much of a profit as possible. Here are some tips to help them through the process:

  • Bring attention to the home’s best features: Highlight features that are in high demand. If there’s a home office—show it off, if there are home-tech features—emphasizes them. These features will help sell a home.
  • Don’t overprice the home: Expert real estate professionals will be able to help their sellers navigate the current market and price the home appropriately. If you overprice a home, it can sit on the market for longer than it should.
  • Get the property buyer ready: Sometimes a little staging can go a long way. Think about hiring a professional stager to get the property looking its best.

The Suburbs and Rural Homes Are Still in Demand

Since COVID, remote work has become a norm. This means more people are able to work from home so there’s a continued demand for suburban houses and rural homes. Summer buyers want larger properties, land and office space.

Urban Areas are Not Out of the Running

On the flip-side of the above trend, urban areas are seeing a re-birth! With COVID no longer as big of an issue, city living is increasing and many young professionals and empty nesters want to live in an area with lots of activities and amenities. If your clients are looking to move to an urban setting this summer, encourage them to navigate the market while more inventory is available.

The Sustainable Home Trend

Homes that leave less of an impact on our environment are becoming a trend this summer. The market is seeing more buyers who want properties that offer energy efficiency, solar panels and other green features. If a property has any of these features, or could use an upgrade with one, consider highlighting them to attract more interest for a quicker sale.

The summer real estate will bring more property sales—even with less inventory and higher rates. Real estate professionals can encourage their clients to make the most of this busy season by understanding the above trends.

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