This has been a bizarre year for almost everything, and that includes the real estate world. Many homes are selling with multiple bids, and buyers can truly get discouraged in this hot housing market. If you’re one of those buyers, don’t be dismayed! The great news is that one of the best times of year to be a buyer is just right around the corner.
In a seller’s market, the winter months are an excellent time to buy a house, and there are a few reasons why. First, most buyers purchase properties from spring to early autumn, so there’s less competition in the wintertime. All those other buyers either found a home or got disheartened and put their plans off until next spring.
“One of the best times to be a buyer is right around the corner.”
Also, heading into the holidays, houses generate fewer showings, which means there will be fewer multiple-offer situations. This gives you a higher chance of getting your offer accepted. Additionally, some of the inventory starts aging; some sellers need to sell, and in some cases, that’s because they overpriced their properties during the summer. In the winter they may be ready to look at more realistic pricing and negotiate with buyers.
If you’re going to buy in this market, you need to be pre-approved with a fantastic local lender and partner with a trusted real estate agent.
If you want to see all the active inventory in the Twin Cities, please click the appropriate link above. Or, if you’re considering selling next year and want to know what your home could sell for, click the applicable link above.
As always, you can reach out to us anytime via phone or email if you have questions about buying in the wintertime or real estate in general. We would love to help you.
