The Summer Doldrums
We have all heard this phrase “the summer doldrums” and associate it with a slow down. Here is the dictionary definition:
doldrums. a state of inactivity or stagnation, as in business or art: August is a time of doldrums for many enterprises. a belt of calms and light baffling winds north of the equator between the northern and southern trade winds in the Atlantic and Pacific oceans.
Here in Southwest Florida it has deeper meaning by both definitions. In the literal sense we find that the waters on the Gulf are much calmer than normal. For us boaters it is an opportunity to get out and enjoy the Gulf of Mexico without having to worry too much about choppy waters. More importantly though, from a business perspective, it is the time of year when things are most calm. Year round residents enjoy less crowded highways and shorter lines while checking out at stores. Most importantly though, they enjoy the best deals of the year. Merchants are offering all kinds of incentives to drum up summer business. Coupons, 2 for 1’s, and incentives abound this time of year as merchants vie for the local residents who clearly have the upper hand this time of year.
It should come as no surprise that the same concept exists in the Real Estate market. We are in a seasonal market and the majority of residents think seasonally. Come January the market will be flooded with new listings and higher prices and transactions in April and May will be double that of August and September.
We are all familiar with the contrarian theory and for those of us that are willing to adopt it there can be rewards. In every market there are those who for whatever reason need to sell. It only stands to reason that those who need to sell in the summer have fewer buyers and will therefore pay more attention to whatever offers they receive. Are you a contrarian? If so we want to hear from you. Brad and I stand ready to assist you in finding the dream home you have been waiting for. Give us a call at 239-963-4811.