The snowbirds are not here in summer and they are the folks who usually purchase luxury homes. If you list your home in summer and it is a home priced over 600K it is likely it will not sell in the summer. And if you list it in the summer and then continue to have it listed for sale in the fall and winter it will show higher “Days on the Market” which tells the potential buyers that it is not new to the market and it is likely the Sellers are more negotiable on the price. The best homes sell quickly is what most real estate agents and potential purchasers usually conclude. Therefore, if a luxury home Seller contacts me and says “When is the best time to sell my home” I tell him/her to wait until January when the snowbirds are here.
However, if you have a two-story home that is non-custom the best time to sell is May because most folks who purchase these homes have children and they want to move in before the new school year begins. Additionally non-luxury one-story homes can list any time of year but the best time to list is in January when the snowbirds are here because many snowbirds want a one-story home.
The Tucson real estate market that is above 300K continues to be slower than most of the country. First time home buyers usually utilize an FHA mortgage to finance their first home and Sabino Mountain is priced out of this growing market. FHA requires only 3.5% downpayment and the qualifying standards are easier than for one to obtain a convention loan. The top limit for an FHA loan in Pima County is only $275,665. So unless FHA increases the loan limits we continue to not attract the popular, first-time home buyer segment of the real estate marketplace.