I have recently read several industry related articles indicating that the next several months are the best time for a Buyer to purchase a new home. After giving it some thought, it makes perfect sense.
Most everyone assumes that the Spring-Summer period is the best time for residential real estate. More Sellers put their property on the market during that time, for sure. This increased inventory attracts more Buyers – – many of whom end up competing for the same property. This, in turn, actually drives prices up and forces Buyers to perhaps pay more for the property that they wish to purchase.
Properties available during the fall and winter months often represent a better bargain. These “left-over” properties may be owned by Sellers who are tired of the process and ready to see a SOLD sign in their yard. This may very well mean getting a better price for the property.
According to the Pennsylvania Association of Realtors, homes selling in the autumn period average about 3% less than those sold during the summer months. Homes sold in January and February average a whopping 8.45% less on average! So if you have decided to “wait for spring”, you may want to rethink your decision.
Keep in mind, though, that seasons don’t impact listing prices. Again, according to PAR, sellers simply have a seasonal advantage in the summer while Buyers tend to have more of an advantage in the winter.
If you need assistance in finding a new home, contact the EXPERIENCED professionals at Wolfe & Company Realtors. We are among the only real estate companies in the Mid-State that do not charge our Buyer clients a fee! NO FEES! NO TEAMS! NO NONSENSE!