I get this question a lot and, although the answer is fairly simple, it leads to more dilemmas. Find out more in today’s Passenger Seat Real Estate.
Transcription: Hey everybody, Chris Pesek here. So, had a great question from a client couple days ago. The question was what is the best time of the year to buy a house and consequently, what time is the best time of the year to sell a house? So if you look at numbers in terms of the highest price points and the most sales by volume and those type of things the best time of the year to sell your home is in the spring and usually that target date for me and my clients is no earlier than around Valentine’s Day a little bit after Valentine’s Day so mid to late February early March you can extend that up until really the beginning of May or possibly June as the, in my opinion, the best time to sell the house and then after that things typically will start slowing down especially after July. So that’s the best time to sell a house to be. The best time to buy a house to me is the period after Halloween And going until maybe the second week of January really sometime around the end of December but second week of January. And the reason that I say that I think that’s the best time to buy a house is well, there’s a couple of reasons first you have less competition and you also have houses that didn’t sell in the summer that are getting long in their listing period and sellers tend to get a little bit antsy, they want to get that house sold. They didn’t get it done in the summer. Like they thought they were going to so after a while you can usually get a little better prices for those houses as you get closer to December so that brings up a huge dilemma of well, if it’s best to sell your house in the winter or late fall and it’s best to buy a house in the spring or early summer that creates a little bit of disconnect so you have to you have to think about what’s going to be most important for you as a consumer and or a seller if Of the ability to buy a house not worry about selling one every day all day, I say my in late fall and winter, again for the reasons I mentioned earlier. Now the one issue is you’re typically not going to have as many to pick from and things like that so you may not be able to find that perfect house and it little bit easier to find it in the summer. What I’ve found out in doing this for as long as I have now, your dream house sure looks an awful lot like all the other people’s dream houses out there. Now some people want land, you know, some people want to one story or two story but things that are selling and the things that are flying off the market and getting multiple offers sure look an awful lot alike across the board. So if you wait until the summer to buy your dream house the chances of you having to pay a lot more for that because in our Market you’re going to end up multiple offers or situation like that goes up just astronomically and that’s what we’re seeing when I had you know, this past summer. I had a house that sold and forget it this point what we had. I think we had 10 or 11 offers. There are several agents who told me that they were going to bring me an offer. But after I said, I was at multiples they decided not to submit an offer. There’s no telling how many we would have had had everybody who wanted to would have submitted. I digress that’s kind of going off. But again the houses as a buyer if you can begin to get the fall or winter. You’re going to get your best deal. If you don’t have to have to sell your house to I have been you just have to figure out, OK what’s most important to you, getting absolute top dollar for your house knowing that you’re going to end up losing some of that money because you’re gonna pay a higher amount in the summer for the house that you buy or are you Okay selling that house at a little bit lower price because you can get the house that you want for the lower price in the winter. So that’s just a question and answer series that you got to have with yourself as a consumer. But that is it, I appreciate you watching again, if you think this video is beneficial to other people share it with them. I am all about the education and getting the knowledge out there. Unfortunately right now there are a lot of agents who are simply relying on cut-rate services to get their clients and they’re not really educating our clients. So my choice is to put this education out there for free and try to make sure the consumer is more educated when I’m done than if I had not post these videos. So again, that’s it for today. Have a great weekend and God willing, til next time. We’ll talk to you soon.