We’re just a few weeks into the summer, and the housing market is likely to be as hot as the weather over the next couple of months. During the early summer, demand is often sky-high with families out of school and time off to make a move for many families. This often leads to more sellers listing their homes to take advantage of the higher demand and negotiating power.
So, what happens when it all slows down? We want to get you ready for that cool-down because as summer winds down and fall creeps in, the housing market is ripe for the picking. This can be the best time for you to make a move on the market and buy your next home.
High supply
The biggest reason late summer/early fall is a great time to buy a home is that supply remains high. More sellers have listed their homes in the summer months hoping to take advantage of the greater demand, but the reality is not every home will sell during this time.
These conditions lead to a good number of houses on the market with fewer competitors. With families settled into their new homes and preparing for the school year, you can enter negotiations with more leverage on your side.
Lower demand
As we mentioned, there are fewer people on the market during the later summer/early fall months. Many families have already made their decision and want to ensure their children’s learning isn’t disrupted by moving during the school year.
While demand is still higher than it will be in the winter, the lower demand and higher supply provide favorable conditions for you and your family to stay on the market.
Negotiating power
You should also take note of the houses that remain on the market during this time as some homes may remain on the market after months of attempting to sell. If a seller hoped to take advantage of the summer rush on the market but overestimated their value, you should be able to negotiate them down from their asking price.
This power could lead to some great values in a market that oversupplies the demand. While you might not be able to find homes as cheap as you will during the winter months, you will likely find better value.
There are pros and cons to being on the market at any given time, and there is no guarantee conditions will follow historic trends. However, experienced and knowledgeable real estate attorneys can always navigate the market for you. If you need help picking the right time and place to land your dream home in Florida, Schlegel Livingston is here to help. Our team will help you through life’s most important moments. Contact us today to make sure you’re in the right place at the right time with the right people by your side.
Schlegel Livingston LLC
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