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Hunting for YOUR First Home? Why Fall is a Great Time to Buy!

By
Real Estate Agent with Boardman Realty Minnesota License#90858

 

 
Autumn is just a few days away and many people are thinking of  bright orange pumpkins, warm apple cider and the crackle of fallen leaves under your feet. Fall is a time of change. But few people are thinking of moving in the Minneapolis/St Paul area...or are they?

This is a common misconception of Minnesota home buyers. Often they think they “missed out” on the busy season in real estate and few good homes will be listed at the end of the year. But surprisingly, searching for a home in October, can be a very wise decision indeed.

The spring and summer are traditional times when the real estate market is hot. Many homes do list early in the year, but there is a flood of buyers at that time too.  Summer weather is ideal for moving but these are busy months for vacations and activities. Many homes that list in June and July, linger on the market, partially due to there being an influx of listings at this “good” time.  But sellers are motivated to move before the sidewalks get icy and lawns are snow covered so they often reduce their home prices in the fall. Homes that list in October and November are often priced to sell quickly since there can be less active buyers. 

 

I have seen buyers slack off on their home search at this time when they really should be more aggressively looking. One such first time buyer missed out on several good deals during hunting season when he just wasn’t available to look or move. If you are serious about finding a good deal, hunting for a new home should take priority in the fall. 

 

I have watched this trend for several years now. The housing prices seem to to be a bit more favorable for the buyers when the leaves start to turn through mid-November. Less buyers, means the market is more balanced. This makes it a great time to negotiate for the seller to pay some closing costs or to get a better price your dream home.  Buyers are scarce as temperatures drop and the holidays approach. Fall house hunting can bag the biggest bargains and best home deals. It is a strategy I recommend. 
 

 

Posted by

Teri Eckholm. REALTOR with Boardman Realty, is a native Minnesotan who has lived and worked in the Minneapolis St Paul metro all of her life. She specializes in lakeshore homes, acreage properties and first time home buyers but assists anyone making a move in the north and east Twin Cities metro.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give Teri , a call or visit her website for a FREE Home Buyer Success Guide or FREE Home Value Report She specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2019 terieckholm.com

 

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Comments (3)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I have noticed that things don't seem quite as brisk as they were this spring and summer.  We are still low on inventory, but demand isn't quite what it was.

Sep 18, 2017 06:47 PM
Teri Eckholm

Myrl--Our market is similar. Things were off the charts busy from Jan until June now we are slower. I have several people getting houses ready for after the holidays but few wanting to list now. But...several buyers looking without anything to buy.

Oct 17, 2017 08:14 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Oh, I just had this conversation with someone today, Teri! It absolutely is a great time and everyone that I have in my car right now, is looking forward to getting into their new homes for the holidays - even more incentive to find something...NOW!

Oct 16, 2017 09:36 PM
Teri Eckholm

Debe--I find in the fall that many sellers are motivated especially in Minnesota, to move before the snow flies. They don't want to heat the house and keep the sidewalks clear for winter showings. If buyers are ready, this is one of the best times to buy.

Oct 17, 2017 08:15 AM