Autumn is just a few days away and many people are
thinking of bright orange pumpkins, warm
apple cider and the crackle of fallen leaves under your feet. Fall is a time of
change. But few people are thinking of moving in the Minneapolis/St Paul
area...or are they?
This is a common misconception of Minnesota home buyers. Often they think they “missed out” on the busy season in real estate and few good homes will be listed at the end of the year. But surprisingly, searching for a home in October, can be a very wise decision indeed.
The spring and summer are traditional times when the real estate market is hot. Many homes do list early in the year, but there is a flood of buyers at that time too. Summer weather is ideal for moving but these are busy months for vacations and activities. Many homes that list in June and July, linger on the market, partially due to there being an influx of listings at this “good” time. But sellers are motivated to move before the sidewalks get icy and lawns are snow covered so they often reduce their home prices in the fall. Homes that list in October and November are often priced to sell quickly since there can be less active buyers.
This is a common misconception of Minnesota home buyers. Often they think they “missed out” on the busy season in real estate and few good homes will be listed at the end of the year. But surprisingly, searching for a home in October, can be a very wise decision indeed.
The spring and summer are traditional times when the real estate market is hot. Many homes do list early in the year, but there is a flood of buyers at that time too. Summer weather is ideal for moving but these are busy months for vacations and activities. Many homes that list in June and July, linger on the market, partially due to there being an influx of listings at this “good” time. But sellers are motivated to move before the sidewalks get icy and lawns are snow covered so they often reduce their home prices in the fall. Homes that list in October and November are often priced to sell quickly since there can be less active buyers.
I have seen buyers slack off on their home search at this
time when they really should be more aggressively looking. One such first time
buyer missed out on several good deals during hunting season when he just wasn’t
available to look or move. If you are serious about finding a good deal,
hunting for a new home should take priority in the fall.
I have watched this trend for several years now. The housing
prices seem to to be a bit more favorable for the buyers when the leaves start
to turn through mid-November. Less buyers, means the market is more balanced.
This makes it a great time to negotiate for the seller to pay some closing
costs or to get a better price your dream home.
Buyers are scarce as temperatures drop and the holidays approach. Fall
house hunting can bag the biggest bargains and best home deals. It is a
strategy I recommend.
READY
to Make YOUR Move? If
you are buying, selling or relocating to Minnesota and need help from a
professional REALTOR®, give me, Teri Eckholm of BOARDMAN Realty, a
call or visit my website for a FREE Home Buyer Success Guide or FREE Home Value Report. I specialize in
acreage and lakeshore properties in the north and east Twin Cities
metro area including Ham Lake, Lino Lakes and all communities in the
Forest Lake School District! Serving Anoka, Chisago, Ramsey and
Washington Counties in Minnesota.
Copyright 2017 terieckholm.com
Copyright 2017 terieckholm.com
