It's the F word! The dreaded four-letters that no one wants to hear: FALL! But we have to face it because we're approaching Labor Day, which is the unofficial end of Summer. While hot days may still be around well into September and Fall does not really begin until the autumnal equinox, we all know that after that first weekend in September, we're back to reality.
The GOOD news is that, if you're a home buyer, the best time to buy a house may be in the Fall. So, if you've been looking during the HOT (literally and figuratively) Summer season and haven't found what you've wanted in your price range, fear not! The Fall could be YOUR market!
According to Realtor.com, "The best month to snag a deal when buying a home? October. This isn't just some random guess; it's based on RealtyTrac's analysis of more than 32 million home sales over 15 years. The resulting data showed that on average, October buyers paid 2.6% below estimated market value at the time for their homes."
1. There is less competition;
2. Home sellers are worn-out (READ: leverage for you!):
3. The holidays are imminent and sellers want to be in their new place by then (look, i'm already seeing Halloween stuff on the shelves in mid-August! You know that means Christmas decorations are right around the corner!).
AND, another perk for you as a buyer, once you close, you can take advantage of the December prices on major appliances, which is when they are typically their very cheapest, according to Consumer Reports.
So, if you're interested in buying, now is a GREAT time! Let me know if I can be of any assistance; I would be honored to help!
Antje Gehrken, CCIM
President | Managing Broker
2015-20 Chicago Association of Realtors Board of Directors
2017-19 CAR Foundation Board of Trustees – 2018-19 Treasurer
2017-2019 CAR Finance Committee
2016-18 Chair - CAR Professional Development Advisory Group
2016-17 CAR Executive Committee
2015-16 Mentor – Goldie B. Wolfe Miller Women Leaders in Real Estate Initiative
2014 Entrepreneur of the Year – Women’s Council of Realtors
Licensed Realtor® in Illinois & Indiana
office: 312-300-7237 x.216