The Top Reason That October Is the Best Month to Buy a Home
October is an exciting month for many reasons. The weather is beautiful, just about everything comes in pumpkin flavor… and it happens to be the best month to buy a house. If you're surprised to find that the best time for buying a house is in the fall, here's what you need to know before you start looking for your dream home.
Sellers Are More Motivated Than Usual
Late spring and summer are typically known as popular times to buy a house, as many buyers want to be settled before the school year starts. So, it's no surprise that the real estate market slows down a bit as fall begins, and that's good news for buyers like you. It means sellers are more motivated to sell their Nashville home. After all, they didn't manage to sell when the market was hot, and they don't want their house on the market still when the holidays arrive. That means they're more likely to negotiate with buyers on big factors, like the price - including closing costs - and the move-in date.
There Are Fewer People Looking at Houses
You have less competition for homes when you house hunt in October. Buyers are more likely to stay home in the fall, since school has started. Plus, their weekends are likely to be taken up by watching fall sports, such as football, which means they're less likely to attend open houses. This gives you a little more buying power as you look for a home in Nashville.
You'll Likely Pay Less
Last - but not least - home prices are the lowest in October. RealtyTrac did a study and found that the average home sales price in October was 2.6 percent less than the average full market value, meaning this is the month when buyers tend to get the best deal. In particular, October 8 is the best day to buy a house, since the study found that buyers paid 10.8 percent under estimated market value, though October 15 and 22 were also found to be good days to get a great deal on a home.
Are you ready to reap the rewards of buying a Nashville home in October? Come to Carolyn Akins Real Estate today to start looking for your Nashville dream home with the help of a real estate agent who knows the Music City inside and out.