It's hard to believe, but the holiday season is right around the corner. This means the best time of year for buying a home is right around the corner, too. To see why, take a look at the graph below, which shows accepted offer totals for each month of the calendar year.
Year in and year out, November and December are the 2 slowest months for real estate in the Madison area. This market dynamic creates 3 big advantages for home buyers during the holiday season.
3 advantages for holiday home buyers
First, there's much less competition from other buyers during the holiday season. Your odds of getting your offer accepted are much higher in November and December than in the spring and summer months.
Second, buyers have the psychological advantage over sellers in November and December. When the weather cools, the market does, too. Seller anxiety rises during the holidays causing many property owners to lower their expectations for their sale. Many sellers, who were once inflexible, are willing to negotiate during the holiday season.
Third, it's easier to get a good deal during the holiday season. With fewer competing buyers and more flexible sellers, November and December are the two best months for getting a good price in the Madison area.
Of course there are exceptions...
Every transaction is unique. Some locations and some price points are competitive throughout the year. If you're still planning to buy in 2017, reach out to us and tell us more about your goals. We'll help you make sense of the November and December market, and put a good plan in place for your search.
For more tips on buying a home in the Madison area, view all of our latest articles here.
This article is published courtesy of: Dan Miller, REALTOR Mad City Dream Homes & RE/MAX Preferred