Most real estate tends to slow down in the fall, which can be great if you’re looking to buy (and not-so-great if you’re looking to sell). The frenzy of the summer real estate market has cooled by the very same breeze sweeping leaves off the trees in upstate New York.
But now may be a better time than ever for buyers to shop for a new home. According to RealtyTrac and realtor.com®, October is the best time to snag a deal on a house. RealtyTrac analyzed more than 32 million sales of single-family homes and condos and found those who purchased in October paid 2.6 percent below the average estimated full market value for their property. Oct. 8, specifically, seems to offer the best deals for buyers with an average 10.8 percent discount.
5 Reasons It’s All About Fall
- Less focus on landscaping. While the spring and summer bring green grass and plant life, fall may allow buyers to concentrate on the condition of a home’s exterior better. Viewing houses in the fall, you can spot exterior flaws and landscaping problems, setting you up to deal with these issues before you buy the house.
- The pressure is off. Less competition from other buyers who are pressed by deadlines, such as the start of the school year, means a stress-free pace for your clients.
- Agents have more time. Since I’m not juggling as many buyer clients, those who are home shopping will get more of my undivided attention.
- Better deals. Those who are selling in the fall likely have personal deadlines they’d like to meet, such as relocating for a job. Sometimes, sellers are more willing to lower their asking price than they would be during the summer months.
- Fewer bidding wars. By taking advantage of the seasonal hiatus by other buyers, there’s less chance that you will be outbid by someone else.
Contact me to set up an automated search in the Southern Tier and Finger Lakes region! Call or text me at 607-742-1350.