Experts say there are general seasonal changes, including the number of homes for sale and the purchase price.
However, the best time to purchase a home on the Crystal Coast isn’t always when inventory is highest or when prices are the lowest. These are important to consider, but broader market conditions and your needs also play a significant role.
Deciding on the right time to buy isn’t just about money — you also have to be mentally prepared. The best time to buy a house is when you feel confident in your finances and personal readiness to take on house hunting.
Let’s take a look at some of the seasonal differences in the market for house hunting.
Spring is hot!
Spring is a hot time of year for the real estate market. The warm weather and end of the school year tend to draw out sellers and buyers in droves, which creates a healthy marketplace.
That’s both good and bad if you’re looking for a new home. Choices abound, but so does your competition. You may even find yourself in a bidding war.
One of the reasons sales inventory tends to increase when temperatures rise is that houses show better. Trees and flowers are in bloom, and the grass turns green again. Houses look much better in the spring sunlight.
If you commit to buying in the spring, prepare to move quickly.
Summer is still simmering.
Most listings hit the market in a short window between the months of April and June. The market typically slows down a bit as it gets closer to August. Late August traditionally gives you a great opportunity to find deals, because sellers slash prices even further.
Expect to come in with a strong offer and not just on price. Sellers want to go with a buyer who is serious and can close the deal. If you are a first-time homebuyer, here are some great tips to put you ahead of the pack..
Once summer ends, sellers get more motivated. They usually lower their prices, giving you the opportunity to get a deal. Many sellers want to avoid moving during the holiday season. This gives you more room to negotiate when you do make an offer on a house.
There may be less inventory during the fall, but the competition is generally lower, too. People – particularly parents – who have looked during the spring and summer typically want to be settled into a home before school starts.
Winter: Let’s make a deal!
Winter usually brings the lowest home prices. If a house is on the market in the off-season, it means sellers are often more motivated, which automatically translates into an advantage to you.
Most people suspend their listings from around Thanksgiving to the New Year because they assume buyers are scarce. The majority of people don’t fantasize about walking through houses and the cold of winter, but that can give you more negotiating power. And, on the Crystal Coast, our winters are typically mild.
Sellers who do list at that time usually want to sell as soon as possible. They may even be more willing to throw in extra perks such as appliances and window treatments.
The upshot? You can find houses during all seasons. Since the pandemic hit, the market has been good in every season. At Al Williams Properties, we are here to help you find the right home no matter the season, and we will walk you through the process to make it as hassle-free as possible.
You can browse our listings anytime you choose and keep checking back to see what is new to the market.