I was interviewed on Fox Carolina this week talking about one of the biggest days each year in real estate: Match Day.
Why does Match Day matter to our local real estate market?
When 4th year medical students "match" in the Upstate -- they need to find a place to live. Ditto with resident doctors graduating into fellowships or private practice.
So March 15th creates a domino effect: new residents come to the Upstate to find and purchase their first home, and residents and fellows moving up into private practice are now in a position to sell their first home and move into something with more space, often to accommodate a growing family.
On the flip side, MOST SELLERS IN THE UPSTATE ARE FAMILIES , and those families tend to want to allow their school aged children to finish the school year, at the end of May.
So these two buyer and seller forces create a "positive, perfect storm," where there's an annual influx of new buyers every spring, looking at the new spring inventory of homes for sale.
What is the busiest closing day of the year?
It's always the LAST FRIDAY IN MAY, just as the local schools end their academic year. And those closings are for homes that went under contract sometime in March or April.
Our real estate market never comes to a standstill as there are major employers recruiting talent here throughout the year, but Match Day is a catalyst for the perennial bloom we enjoy in our Spring real estate market.
So IF you're wondering when is the right time to catch the spring wave of new buyers, now you'll understand why MOST SELLERS opt to showcase their home along with the dogwoods and the azaleas - in the spring.