This summer has been exceptionally hot in our local Central Wisconsin real estate market, so hot that some buyers have decided not to compete and drop out of the search.
That leads some buyers to ask is fall a better time to buy a home? If you are considering a move, when is the best time to buy?
That question depends on the motivations and desires of the buyer.
For a family that wants to get settled before a school year starts, summer is ideal to relocate before the school year begins. As we all know, with remote learning increasing because of the pandemic, this has broken down that barrier slightly this year – which is not typically.
Traditionally, in a fall market, the summer craziness has died down… and there are less buyers in the market looking for a home. You don’t have to move quite as fast on locking down a good home, you don’t often have as many offers (although well-priced homes may get multiple offers – the number of offers you may be competing with is often less).
To give you an example, in the month of a July, an appropriately-priced home between $150-$200K may receive 3-5 offers within a couple days of hitting the market.
Right now, in October, that same home may get 1-2 GOOD offers in a couple of days or the first week or so. I want to stress GOOD, because they are not bad offers, there are just fewer in number. Homes are still selling and they are still selling for a GOOD price. The number of clients / hype of the summer market in our area doesn’t last through the entire year, maybe the year we don’t get snow from December – March.
As a buyer, these seasonal changes can actually be quite helpful. If you’ve been on the fence for awhile, but are thinking about getting back into the market, now may be your chance! Connect with a Realtor on our team to learn how you can get started on your search. It may be less stressful looking during the fall months when less buyers are considering a move and being able to get settled into a new place before the snow flies!
As a seller, it’s a great time to evaluate your goals for your sale and think through the timing to capture the best audience. Our team is happy to help walk you through our techniques for all seasons. (Plus fall offers some of the best aerial photos – hands down!)
Side note – contrary to popular belief, many homes DO sell during the fall and winter… however, again with less buyers looking, it may take a bit longer than during the summer, but that doesn’t always mean it won’t sell for the price you are asking.
Our team is here to help. Drop us a line and ask a question! Looking forward to hearing from you.