There is always a so-called ‘best time’ for everything. Traveling is cheaper in winter, sales are more frequent in spring, strawberries are sweeter in summer, and house hunting is more successful in autumn, especially during its second month.
RealtyTrac and realtor.com® have analyzed tens of millions of sales, including those of condos and single-family places starting from 2000 and till 2015. The research results were surprising: October is apparently the best time of the year to look for and buy a place to live.
The October purchasers pay nearly 2.6 % less than the initial market value of the house. And there is even a precise date, October 8, when deals are getting even better allowing an average buyer to save up to 10.8 %.
One can say it is just a coincidence, others will think of some magic ritual going on every 8th day of the fall’s second month. Whatever it is, you, a potential buyer, should take your chance. Do you need any more reasons?
Lindsay Szwed, an agent of the Chicago area, gives five of them.
- We, agents, have more time. Usually, the hottest buying-selling season is summer. An autumn breeze brings relief for an average agent, so he has more time for you. What does that mean? You and just a few other customers will get all the attention, the chance to see more than 2-3 places.
- Landscape focusing season has passed. Bright summer makes customers concentrate more on the exterior of the place rather than the interior. While purchasing in autumn, you can pay more attention to the stuffing of the building, decide on your needs and issues you may face in a new place.
- No one is pressing you. All agents have deadlines. In summer they are tougher: many houses are to be sold at good prices and many bonuses are to be earned. Fall takes the pressure off and guarantees a pace which is stress-free.
- No wars. Customers are fewer as not everyone knows the pros of autumn house hunting. Agents aren’t fighting for every client; customers are rarely outfitted by others.
- Deals are better. Wishing to finally sell the place, an agent is likely to lower the price. Isn’t it a great deal?
Fall and October precisely give everyone a chance. If you use it wisely, the house hunting period will finally come to a successful end, and cold winter will be spent in your own home at a lower cost.