Fall vs. Summer: Which is Really the Best Time to Buy a New Home?

Fall vs. Summer:  Which is Really the Best Time to Buy a New Home?

Many buyers with children may question the fact that school has already started and are adamant about not changing schools. Other buyers may think that they can only get the best deals in the Spring/Summer seasons. This is not the case! Here is why...

Less Competition (Fall Wins!)
Competition drops off the in the Fall season but there are still homes for sale. In some cases, there’s just as much inventory that did not sell in the “prime season.” This puts the buyer in a great position to negotiate. Many sellers may be more motivated to sell before the holidays. Buyers will have more leverage in Fall!

Sellers are Exhausted (Fall Wins!)
Many of these sellers put their homes on the market in the “prime season” and had more energy and excitement. But after many showings, they start to get worn-out. Now they are ready to make a deal. Most will take a lower offer than to wait another six months for spring to come around. Some sellers may have a home that is being built or have to move for a job, therefore, again they are more open to negotiating and accepting a lower offer or the reason they have made a price adjustment.

Prices will Drop (Fall Wins!)
If homes listed during the busy summer months did not sell, chances are they could have been overpriced or at the upper limits of the comparables. Buyers will see prices fall more in line with market value. Again, sellers are more willing to negotiate and adjust their original list price.

Time on the Market (Fall Wins!)
Another issue that works against sellers but favors buyers. The longer the home sits unsold, the more bargaining power a buyer will have.

More Flexibility on Terms (Fall Wins!)
In the fall season, you will see less bidding wars and multiple offers. Therefore, tables are turned and buyers will have more flexibility on terms such as: Closing costs, Repairs, Seller Concessions and closing timeline.

If school being in session is what is hindering a buyer from making that purchase, stop that thinking! Think about the deal for long-term and the positives to make that switch. School just started so kids may not have gotten too comfortable yet in their class, so making this a perfect time to switch and start fresh at a new school. Kids will always make neighborhood and school friends.

In our case of Fall vs. Summer, Fall wins by a landslide! Call the Stacey Feltman Group today at
214-356-8368 or visit us on our website at www.staceyfeltmangroup.com.
We Make REALTY Dreams a REALITY!