Most potential buyers start to look for a new home in the spring or summer, which is why these seasons are known as the busiest times of the year for the real estate market. But, this does not mean that buying a home on the Goldsmith real estate market in the winter is a bad idea. In fact, there are many advantages to shopping for a home in the winter instead of in the spring or summer.
Since most buyers wait for the spring or summer to look for a home, there is less competition during the winter. As a result, buyers will probably not have to worry about getting in a bidding war or having to sweeten offers in order to make a deal. It also means buyers do not have to rush to schedule an appointment to see a home the moment it hits the market since there are fewer buyers that are actively looking and making offers during this time of the year. Take your time exploring the market and finding the perfect home now that you won’t have to fight off competition.
Because there is less competition in the winter, prices also tend to be lower than they are during other times of the year. Buyers shouldn’t expect home prices to drop drastically, but there should a slight decline in the average price of listed homes during the winter. For example, median home prices in the summer of 2014 were around $220,000. However, this number dropped down to $200,000 in January of 2015. This illustrates the typical difference in price between homes sold in the summer and homes sold in the winter. Learn about the best time to buy a home
Highly Motivated Sellers
It is very common for sellers to be eager to make a deal during the winter. Why? Sellers are aware that there is less demand for new homes in the winter. If a buyer shows interest in a home, the seller is more likely to do what it takes to close the deal so he doesn’t lose the buyer. As a result, buyers may be able to negotiate deals with lower prices or other perks, such as a quick closing or shared closing costs.
Real estate agents have fewer clients to manage in the winter, which means they will be able to pay more attention to you if you are shopping during this time of the year. This is perfect for buyers that have never purchased a home before or aren’t quite sure what they’re looking for in a home. In the winter, an agent will be spend ample time with these buyers to ensure they find the home of their dreams.
Are you ready to find your dream home on the Goldsmith real estate market this winter? 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.