This year, as Texas and Florida recover from Harvey and Irma, respectively, we are reminded how the weather effects the real estate industry. Yes, occasionally there is a rogue hurricane that whips through Vermont and causes flooding havoc like Hurricane Irene in 2011. But, for the most part, Vermont’s weather tends to be best known for cool autumn evenings and long, cold winters.
If you’ve lived in New England you know the saying, “If you don’t like the weather wait a minute and it will change.” Now, more than ever this seems to be the case. On the heels of a few weeks of cool, fall weather early in September many of us removed our window air conditioner units. Now, since the air conditioners are safely tucked away until next season, we are experiencing high humidity and summer-like temperatures that reach 80+ degrees during the day. It’s tough to think about mums and pumpkins when your annuals are still blazing with color.
What does this mean for Vermont real estate? It means that our local market is sensitive to changes in the weather. When it’s hot and humid few people find it appealing to look at houses. When it’s raining and snowing buyers like to look on-line rather than “in person.”
But, does the real estate market slow down in the fall? How about winter? Years ago, real estate was more of a “seasonal” business, and, in some parts of the country it still is. Real estate market statistics are useless unless you see a “seasonally adjusted” number along with the monthly charts.
On the Weaver Team we have experienced the ups and downs of the years and the seasons, though none of our “trends” seem to hold from one year to the next. On one year we can have a record breaking December and the next year, not so much. A “January thaw” can jump start the next year’s sales. Due to the unpredictable nature of the weather and the market, it seems like real estate is turning into a year-round business, no longer dependent on the infamous “spring market.”
Many of our sellers decide to keep their houses listed and on the market through the holidays and winter months as the competition tends to drop off. We have sold houses right after major Nor’easter storms. You never know when a family will make a decision to make their home here, Home Sweet Vermont.