How “Back to School” affects the real estate market

How “Back to School” affects the real estate market

Many families hear “back to school” and it either brings emotions of joy or emotions of sorrow. When it comes to Real Estate there are positives and negatives we tend to see.

One of the busiest times of year for many families is back to school time. In Nebraska, this usually falls in August. This year most of the Omaha metro schools are starting between August 9th –August 17th. This includes OPS, Bennington, Elkhorn, Bellevue, Westside, Gretna and Millard Schools.

Most years we see a lull in the market around this time. One thing to consider is many buyers are purchasing in areas based heavily on the school district. This means they are attempting to close on a home and move into the house before school starts. On average, according to Realtor.com, it takes 50 Days to close on a house however locally we see many houses close as quickly as 30 days. This means as a seller you want to have your house on the market no later than July 10th to be safe, especially if you live a highly desirable school district.

Houses That Struggle During “Back to School” Time

Generally, the types of homes that accommodate family lifestyles struggle the most. Those homes tend to be 3+ bedroom homes. The more bedrooms a home has the more likely a family is purchasing the house. Also, in my experience, two stories and multi-level homes tend to accommodate younger families so they can experience a slow down during “Back to School” season.

Not To Worry

If you can’t get your house on the market in the next week or so don’t let that alarm you.  We do see the market pick back up a few weeks after school is in session and remain solid until the holiday season.

Parents with kids that are off for the summer months keep quite busy. During those months families tend to work less, travel more, and take a break from house shopping. When school starts again families get more into a schedule and they tend to have a bit more time.

to view homes and get serious on purchasing. If you can’t list now I’d recommend doing so the second week after schools start.

Some Markets Flourish During School Season

There are many areas where schools starting don’t affect the market much. Retirement communities, condos, and townhomes are a few examples. Buyers for these style of homes typically don’t have children in school anymore. If you live in a ranch home or in a community with a monthly HOA it can actually be beneficial to list for sale in July/August.

As always, feel free to contact the Blythe Team with any questions about buying or selling!

Chad Blythe

The Blythe Real Estate Team

Nebraska Realty

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