‘Tis the season for sales and discount prices
Amazon and Macy’s aren’t the only ones with discounts and sales this time of year – that’s right, take a peek at the housing market. Many homes come with a price-cut in the months of November through January.
The Top Two Reasons It’s a Good Time to Buy
1. Sellers are likely more negotiable.
More often than not, a home is listed late in the year for one of two reasons.
- The seller is in a hurry to sell with little time to wait
- The home has been sitting on the market for awhile
A seller in either of these positions gives a buyer the upper hand when it’s time to negotiate leaving room for the buyer to walk away with a new home at a lower price.
2. Less competition from other buyers.
Spring through the beginning of summer is the busiest time of year. That’s when the most homes come on the market bringing out the most buyers and often leading to bidding wars. Come December, buyer competition is far less common which often feels more like a buyer’s market. Less competition plus motivated sellers can often land you a bargain.
Consider This
The average price per square foot from Nov-Jan (2017-2018) was $392.30 vs. $409.54 from Feb-Oct 2018. That’s a difference of $17.24 per square foot. If you were buying a 2500 square foot house, that equates to a $43,000 savings just by buying during the slower time of year.
So, why buy gifts that will quickly be returned and/or discarded when you could get yourself into a new home at a discounted price.
Getting serious about buying this holiday season? Let’s get in touch.
