“These market attributes create an atmosphere in which property prices are highly negotiable during the fall and winter,” she continues, “and buying multiple bank-owned properties at the end of the fiscal year can create deep discounts.” SALE PRICES BEGIN TO DROP IN FALL While home sale prices don’t usually drop dramatically as summer turns into autumn, the final sale prices do take a significant and noticeable drip. According to NerdWallet.com and Realtor.com, home sale prices dropped from summer to fall an average of 2.96%, which equates to $8,300 on the median home. HOMESALEPRICESARETYPICALLYLOWEST INWINTER Many buyers are averse to the idea of buying a home in the colder
months, but if you can hold off until January or February (generally not very active months in the housing market), homes can cost 8.45% less, on average, as compared to summertime. Of the 50 metro areas analyzed by NerdWallet.com, 29 had the lowest home sale prices in January, while 19 had the cheapest
prices in February. “Sellers are often encouraged to wait until spring to list their homes,” according to an article on Nationwide, “and those who keep their properties on the market through fall and winter may be more willing to negotiate a deal.”
33
Powered by FlippingBook