July 24, 2023
As school ends and families leave on vacation with the weather getting warmer, summer presents a fantastic opportunity to dive into the real estate market and find your dream home. The summer season offers a unique set of advantages for homebuyers, making it an excellent time to make your move.
One of the key benefits of buying a home in the summer is the reduced competition in the market. With the busy spring season coming to a close, there tends to be fewer buyers actively searching for homes. This decrease in competition can work in your favor, giving you more negotiating power and potentially leading to better deals. We don’t want to overemphasize negotiating power, as often the “deal” is simply securing a home with no competition at the list price. However, sellers who listed their homes at the beginning of the summer and are still on the market at the end of the summer, may be more motivated to sell, increasing your chances of finding a motivated seller and securing a favorable purchase price.
Furthermore, the summer season provides an opportunity, if working with a connected agent, to find homes off market. Many agents have “pocket listings” mid June through mid August holding them off market until the busier late summer/early fall season. Sellers often will sell off market for the right price. So, embrace the summer season and take advantage of the reduced competition and the opportunities it provides to find your dream home.
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