Fall! The return of all things pumpkin-spiced, cooler weather and the new school year (which this mom is thrilled about).
It’s also a great time to buy a home, condo or townhouse and possibly snag a great deal in the process.
More Flexibility On Terms
In a slower selling season buyers have the upper hand they typically have more asking room.
- Closing Cost
- Repairs/Cash Credits toward Repairs
- Buyer Concessions to sell home first
Time On Market (Snohomish County Only)
Another issue that works against sellers (but favors buyers) is the length of time a home has been on the market. Also, inventory tends to increase from summer to fall because homes aren’t selling as quickly. New homes placed on the market in July 2019 was 1,698 making that a total of 2,164 homes active. Of those homes only 1,376 closed. That is a whole lot of house left in Snohomish County alone!
Prices Match Market Value
If homes that were listed over the summer didn't sell, chances are that they were overpriced. That means buyers will see home prices fall more in line with market value. Median home price in Snohomish County this summer was $480,000 this is a 3.5% increase. Working with a real estate agent who can assess asking prices can help you avoid overpaying.
Once school starts there are less buyers to compete with your offer. Most families wish to move-in prior to their children starting school. Cooler weather can also drive down demand.
So if you are wondering if now is the time to buy....? I would say YES!