This year is already coming to end. The majority of home buyers we talk to this time of year tell us that they plan to wait until 2019 to buy. It’s understandable that people don’t want to go out in colder weather to look at homes, but I’m going to let you in on a secret. The end of the year could be a great time to be buying because you are more than likely going to get a better deal. This is all due to supply and demand.
Summer is the most popular time sellers put their home on the market, meaning that there are also a lot of buyers and often times multiple offers on homes. That allows room for sellers to increase the price of their home. Greenville’s market report for this year prove it. In April, the average sale price of a home was $234,778. This average jumped by over 10,000 in May, 3,800 more in June and 4,000 in July making the average $253,233. That is a jump of $18,000 in just three months! The average dropped a whole $14,000 from July to August and continues to drop each month. Not only do you get a decrease in the average price during the winter months, but you also have more room to negotiate and make it a better deal for yourself because you probably won’t be fighting other buyers for the home.
One thing to keep in mind is that because there are fewer homes on the market during this time, it may be more difficult to find a home that meets all your needs. The best thing to do is stay on top of searching and ask your real estate agent to help you. If you can’t find something exactly what you’re looking for it’s your decision to find what could work and is more affordable or wait until the following year where there are more choices available, but at higher costs.
Another plus is the time off you get for these Holidays. While Holidays can be busy with family, you could also take this free time off to look at some homes. The majority of home viewings occur online so you can be in the comfort of your own home and only go out in the cold when you find the right homes to see. Plus, we are lucky that we live in South Carolina because we have pretty mild winters.
If you have any interest in buying or selling or have any questions about real estate in Greenville, South Caroline or the surrounding areas, please give us a call at 864-438-5050 and we will be happy to assist you. Visit www.GreenvilleRealEstateHub.com for more information on local real estate.