Labor Day marks the unofficial end to summer—and it also happens to be the end of the busiest real estate season as well. Every year is different, but the market typically changes after Labor Day, which is important to know if you are planning on buying or selling a home. Here are some of the University Park market trends that are expected now that Labor Day is behind us:
Many families prefer buying a home by the month of August so they can be settled in before their kids go back to school. But, if you don’t have kids or don’t mind moving in the middle of a school year, you can take advantage of the fact that there are fewer buyers looking for homes. With less competition, buyers may be able to score better deals since sellers no longer will be in control of the market. Learn about a buyer’s market
Sellers Are Ready
Some sellers that listed their homes in the spring and summer may not have been fortunate enough to close a deal by Labor Day. But, after several long months of waiting for offers to come through, these sellers are ready to negotiate just so they can close this chapter of their lives. Buyers should look for homes that have been on the market for months if they are trying to find a good deal. Sellers who have waited this long will probably be more willing to negotiate than sellers who have recently listed their homes.
Real Estate Agents Are Available
Now that the market has slowed down, real estate agents will have fewer clients and listings to juggle, which means they will have more time to spend with each client. This is the perfect time for first-time buyers or buyers who aren’t sure what they’re looking for to get in touch with a real estate agent. During the fall, your agent will have more time to walk you through the process step-by-step and help you find the home of your dreams.
There are not many people who want to be in the middle of a move during the holiday season. What does this mean for the real estate market? Both buyers and sellers will be eager to close the deal as soon as possible so they can be settled into their new homes by the holidays. However, if you make a deal too close to the holiday season, it’s possible that the seller or buyer will suggest closing after the holidays, which may mean a longer wait. Be prepared to accommodate others’ busy holiday seasons if you are buying or selling a home this fall.
Now that you know what to expect for the rest of the year, are you ready to find your dream home in University Park? If so, get in touch with the professionals. Contact Elevation Realty
to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.