October Newsletter 2019
Before residential real estate relocated online, Labor Day marked the beginning of the end of the sales year, especially in northern climates. Nasty weather and the holidays limited buyers’ ability to tour homes, kids had just started school, and many families were unwilling to move. As demand dropped, sellers waited until the spring to list if they could.
These days anyone can shop for homes any time, in any weather. The season no longer ends on Labor Day, but rather it extends through the fall and winter. Online real estate has fostered new fall and winter mini markets. What was once the “slow season” has been transformed to become the best time of the year for both buyers and sellers who want to get down to business.
How about late summer?
In May 2017, Zillow’s experts analyzed from 2016 to 2018 and found that although spring offers the most new listings, it is also the time of greatest demand. According to a Zillow analysis of listing and price data, buyers seeking the best time to buy – looking to hit the market both when selection is good and deals are abundant – should remember that patience is a virtue and consider opening their home shopping window in late summer instead.
Or maybe a couple of weeks later?
Not to be outdone, last month realtor.com completed an updated analysis with its own data from 2016 to 2018. Their findings disagreed with Zillow’s, but only slightly. Realtor.com states the best time to buy is not late summer but the first week of fall. The first week of fall (Sept. 22-28) is when U.S. buyers face 26% less competition and there tends to be 6.1% more homes on the market, compared to the average week of the year.
Or maybe you should try anytime.
If you can find a home you like in winter and pay less for it, this is a smart financial and personal choice. If you aren’t able to find a home that’s a good fit, you’ll need to decide whether to settle for what’s available or wait until inventory expands as the warmer months arrive.
When it comes down to it, there are a million different rationales you can use to convince yourself on timing – what it really depends on are your personal circumstances.
If you think it might be time for you to sell or buy, feel free to reach out! I am more than happy to answer any questions you may have!
Looking for some holiday fun around town this October?
Here are some events that might pique your interest!
Spooktacular Trick or Treat Night at Westroads Mall. Join in on the Halloween Fun at the Westroads Mall Spooktacular Trick-or-Treat Event! Friday, October 25th from 6-8pm Westroads Mall will give away Free Trick-or-Treat bags filled with goodies and coupons.
Omaha’s Great Pumpkin Tree Festival. Head out to Village Pointe on Saturday, October 26th from 10am-7:30pm for a full day of Halloween festivities with pumpkin carving, trick-or-treating, a concert, and end the night with the lighting of the giant pumpkin tree in Center Court!
Old Market Fall Festival. Experience the bounty of the season with fun games, artisan creations, warm beverages, wonderful eats and special treats throughout downtown. Monday, October 28, 2019 from 11am -5pm.
Ghoulish Garden Adventure. On Sunday, October 27, 2019 from 12-4pm celebrate and learn about the things that make the fall so festive at activity stations throughout Lauritzen Gardens and make a few crafts to take home.
