Timing the market can make a huge difference on your bottom line and save you thousands.
December and early January, can be one of the best times of the year to make a purchase. There often isn’t much inventory, although the homes that are for sale typically sell for less than in the spring market. It’s a wise move to beat the rush and purchase before the market gets into the active buying season again. When selling a home and working with sellers, we always time the market to the spring season so the advantage is to the seller. The slow months are different…..the market is balanced, and in some cases to the buyers advantage.
Year over year we always see the same trends. Buyers start getting active in the spring market and end up competing against themselves in buying the limited amount of homes. More buyers, equals higher prices for the seller. The winter months won’t give you an abundant amount of options….although if you do find a suitable home during these months, you will likely pay less for the home compared to the spring.
Christmas and holidays always get in the way, but if you’re out looking for homes during these times you can often find a deal. We always advise our sellers to wait until the spring so they can get more money for their property. We advise these sellers to avoid the slow months, when less buyers are seeking to make a purchase. Often those people trying to sell their home during December and early January are people who have to sell, who can’t wait until the spring rush. As a buyer it’s wise to be active and look at properties during these times to find those RARE deals. By “deal”, I mean you won’t get into a multiple offer situation as compared to the spring. By a “deal” I mean you could pay close to asking price, which is better than thousands of dollars over asking price during the spring market. By “deal”…. I mean you could be the only person interested in the home and the negotiating advantage is in your favour.
Myself and my team are always here to help. Give me a call If you have questions or would like me to illustrate this with market graphs and examples. If you are contemplating a move in the near future, this may be the BEST TIME TO BUY!