I love doing research on Pike Sales. I have followed and looked for patterns for the past 10 years.
If you look at the chart closely you will see that Pike Sales take off at the beginning of the year and peak by June or July. The standard theory is that buyers don’t want to move during the school year and disrupt their kids. Usually the time to move is during the summer. From the time a buyer signs a purchase agreement until the time they close the deal is between 30 and 45 days. This puts the buyers who found their house in April closing in May or June about the time school is out. There is a secondary peak in sales although not as great usually in August, September and October.
The ten year chart gets pretty messy. Here is a chart that covers 2013 through now.
In 2014 we ended December with a up note. It carried through to January of 2015 beating out the past two years. February pulled back to match February of 2014. My guess is that February 2014 was slow because of the snow. I imagine the same for 2015.
Currently there is a high number of Pendings in Pike. That means we are likely to see sales go up in April and May. I have noticed an increase in showings in the past two weeks with my listings. Talking to other agents I hear the same thing. I will be watching.
My next posting will be about showings in Pike.