First Time Home Buyer Tips - When is the Best Time of Year to Buy a House? In this video, real estate agent and Realtor Matt Leighton talks about the best time of year to purchase a house.
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Buying a house for the first time - When is the best time of year to buy a house?
0:50 - Buying a house in the wintertime. This is the time of year for buyers when you will have the least competition from other buyers and the biggest opportunity to save money off the list price. The homes that are on the market in the wintertime usually fall into two categories: they are either 'leftover' houses from the summer and fall markets that were overpriced and missed the mark and are now stale on the market or they are newly-listed houses by sellers who need to sell immediately. While you may not have the most inventory when you are buying a house in the wintertime, this time of year will give you the best opportunity to get a good deal. The disadvantages are that you will have less inventory to choose from and the best properties might not come available until the springtime.
3:47 - Buying a house in the springtime. This is the busiest real estate season of the year and it's when buyers will see the most competition from other buyers. The spring market usually starts in late February, but recently, in the Arlington, VA real estate market, we have seen the market start earlier and earlier. The springtime is usually when the best properties come on the market. The spring market is usually considered the time from March (or earlier) to May.
5:15 - Buying a property in the summertime. From June - August, we tend to see a steady surge of new properties that come on the market. It seems like sellers and buyers want to be situated before the end of August, usually timing their moves in collaboration with the school year or due to a job transfer. The summer months stay active and as we head into August, we do start to see a slight slowdown. The last few weeks of August are sometimes a little bit slower as many people in Arlington, VA (and maybe your market as well) tend to take some vacation and family time in the last few weeks of August and on into Labor Day.
6:10 - Buying a house in the fall. Right after Labor Day (first week of September), we tend to see a rush of new properties that hit the market. The fall market can also be known as a 'mini spring market'. There won't be as many properties as the springtime, but you will still find some very good options. There are a few fewer buyers than in the springtime, but if you're in a competitive area, you will still tend to see multiple offer scenarios. The fall market usually starts right after Labor Day and goes on through Thanksgiving. Once we hit middle-to-late November, we start to see the market slow down as we head into the holiday season.
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matt@OrangeLineCondo.com
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Matt Leighton - Arlington VA Real Estate Agent
Matt [at] Orange Line Condo dot com
Century 21 Redwood Realty
1934 Wilson Blvd
Arlington, VA 22201
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