In a recent article we talked about the best season to sell your home—and explored the pros and cons of selling in the popular season of spring. In the article we’ll dive into the same question from the buyer’s perspective, focusing especially on the how to navigate the competitive markets of Bucks county neighborhoods like Jamison and Doylestown.
Spring and summer
Buying a home in spring and summer is all about choice—namely, a lot of it. It’s the busiest season for real estate transactions, and with good reason. The warmer weather makes it easier to get around and check out new homes, which look their best with flowering gardens and lush lawns upping the curb appeal. Longer days mean more daylight for open houses and walk-throughs, making it possible to stop by and see homes on weeknights after work.
Spring and summer are also popular because, if timed correctly, a new home can be purchased and the move complete over summer break, enabling kids to transition more smoothly into a new school in September.
While all of these are great reasons to look for your new home in spring or summer, the popularity of those seasons can itself be a drawback. With so many people looking to buy during this time, already competitive markets can become even more so. You may find that you are not the only party making an offer on a home you’re interested in, and the competition favors sellers who can choose the bids and terms most agreeable to them.
Fall and winter
Buying a home in fall and winter can be trickier in that there are fewer homes on the market to pick from. Buyers looking to purchase in these months will not have the selection available in spring and summer, and shorter days as well as inclement weather may make it more difficult to make the rounds as you view prospective new homes.
But while you may not have the best selection in fall and winter, you also won’t have the competition you have in spring and summer. Fewer people looking to buy homes during these months means there’s less likelihood of having to make counter offers to outbid someone interested in the same home that you are interested in. Buying a home in the off-season can result in a bit more leeway when it comes to price negotiations as sellers eager to close have a limited pool of buyers with whom to negotiate.
Consider August
Spring and summer have a wealth of choices but lots of competition; fall and winter have less competition but also fewer choices. But August just may prove to be a bit of a real estate sweet spot where there are still a significant number of homes on the market but a decrease in buyers. As a new school year approaches, sellers may also be more willing to negotiate on pricing so that they can close before September.
Of course, these are general trends that hold true for many people, but the best time for you to buy a new home is when you are ready to, and when it best serves your family’s needs. Talk to your trusted real estate agent today about how to plan buying your new home!
