There are times of the year when buying certain types of items have proven to be the best for consumers. From the lowest prices to the most plentiful, there are seasonal times of the year for various things, but houses? Is there really a better time to buy a home?
Best Finds on Home Buys
A recent report from RealtyTrac found October to be the ideal month out of the entire year to buy a home. Whether it is Coral Springs homes for sale or homes for sale in Oviedo, October has proven to be the best month for deals on average.
Analyzing the real estate market for the past 15 years, RealtyTrac noted that the average sales price on a home sold in October was 2.6 percent below the average full market value estimated for the property at the time of the sale.
Fall & Winter Better than Spring & Summer
Following October, home buyers can find deals better during the colder months of the year. This may be due in part to less people house hunting in the marketplace. It could be related to the school year, and families involved with their children’s school activities. Or, it could be that it is just too cold and people don’t want to be going from house to house looking at properties.
Whatever the reason, the best months for the best buys in homes, including Oviedo homes for sale and Coral Springs homes for sale, are:
- October
- February
- July (the only exception)
- December
- January
Day of the Week
Similar to the months of the year are the days of the week. Believe it or not, there are better days during the week when home buyers might be able to negotiate a better sales price on Coral Springs homes for sale or an Oviedo real estate property than others.
According to RealtyTrac research, Monday is the best weekday to buy. This find took into account 2.2 million sales of single family homes and condos over the last 15 years.
Analyzing single family home sales since 2000, the experts at RealtyTrac found buyers paid 2.3 percent less than the full estimated market value on average at the time of the sale when purchasing a home on a Monday.
The next best weekday to close on a house: Friday. The number reflect a 2 percent average discount when completing a home purchase on the last day of a business week.
The other weekdays earned their spots as follows:
- Tuesday with a 1.9 percent average discount
- Wednesday with a 1.4 percent average discount
- Thursday with a 1.0 percent average discount
Prepare Now for Prime Home Buying
With a 15 year track record, these conclusions from RealtyTrac are relatively solid. Whatever the reason, there definitely are better months of the year and days of the week to buy a home than others.
If you’ve got the flexibility in purchasing Coral Springs homes for sale than take some time to strategize and plan on the purchase keeping these results in mind.
For a big discount, the top months are coming soon. It just might be the right time to buy!
