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23
The Best Time to Buy or Sell Your Home: A Seasonal Guide
Whether you're getting ready to look for a new home or are thinking about selling your current residence, it helps to understand the impact that seasonal changes have on home buying and selling. During certain times of the year, more homes tend to sell and spend fewer days on the market. At other times, the inventory of homes for sale is usually smaller, and the same home may sell for less money than it would during other seasons.
Our real estate agents share what you need to know about seasonality and how it can affect you as a buyer and a seller:
- The busiest and slowest times of the year
Buyers and sellers who have school-age children will usually want to wait until school's out before making a move so their children don't have to change schools mid-year, and they have more time for moving. That's why June, July, and the very beginning of August are often busy times for buying and selling homes. The opposite is true when it comes to the holidays. From November to early January, people are busy shopping and spending more time with family and friends, so they're less likely to want to move. And in many areas of the country, weather can be cold and unpredictable during these months, making a move more difficult. - Buying a home
If you're looking to buy a home, you'll find more listed for sale in late spring and early summer than at other times of year. So you're likely to have more homes to choose from, but you'll also have more prospective buyers to compete against. That means you'll probably pay more for a home during this time frame, and sellers may be less likely to negotiate on terms. If you find prices too high during this time of year, consider waiting until the market slows down if you can. Just be aware that you're likely to have fewer homes to choose from if you wait. - Selling a home
As a seller, putting your home on the market in the spring or early summer may mean it's likely to sell for more than at other times of year, in addition to spending fewer days on the market. In some cases, a job transfer or other situation can dictate when you sell your home. Just make sure it's priced appropriately, is in good repair, and has curb appeal so it competes well with other homes on the market. - Buying and selling
Most home sellers are also buyers. If you're selling your home, you may be moving to another area, downsizing, or looking for more room. That means you'll ideally sell your current home and buy a new one quickly. If you don't immediately need to put money from the sale of your home into buying your next one, you might want to buy your new home and then sell your current home afterward. Or you could sell your current home and then rent or lease before buying a new one if you're in a slow time of year and can't find a home you want to buy.
No matter the time of year, having an experienced real estate agent by your side can make a significant difference when buying or selling a home. A skilled agent understands market trends, negotiates effectively, and provides valuable insights into pricing and timing strategies. Whether it's peak season or a slower market, they can help you navigate challenges, find the right opportunities, and ensure that your interests are well-protected throughout the process.
Ready to buy or sell a home in central Maine? Contact us today to see Augusta homes for sale or to put your home on the market - or both! We're the area's leading full-service real estate brokerage and can help you get the most for your home and/or find the right home for you.