As September begins, we all know that summer is officially over, and for younger families, the back to school grind begins. School plays an important factor in most aspects of life including real estate.
Just as the colors of the trees begin to change, so does the real estate market. Families with school-aged children will be busier than ever getting re-accquainted with the fall routine, which often frees up some of the intense buyer competition seen in the summer marketplace. A large percentage of families will put their home buying search on hold if they were not able to move prior to the new school year. Because of this, back to school season is a great time for buyers still willing to move, to have less competition and be able to find their next home with less pressure than the summer months.
When scouring homes for sale, another important statistic to track is the days on the market and specifically find the homes that did not sell in peak selling season. Typically, the higher the days on market for a property, the more leverage a buyer may have in a negotiation. Buyer’s and their agents will begin to see price reduction strategies taken by a lot of sellers trying to get their home sold prior to winter and the holiday season. While buyers look to take advantage of these fall trends, they should also keep in mind the fantastic interest rates available right now. If you have not been through the loan pre-approval process, we work with many fantastic lending partners that we can connect you with to start the wheels in motion.
If you’re looking to buy or sell now or in the future, we have a team of agents ready to help you achieve your goals. To get started, either reach out to start a dialogue or download our seller checklist or buyer checklist.