Nerdwallet just did an analysis of home pricing in various metropolitan areas that clearly shows a decrease in home prices from Fall through Wintertime. You can see the complete analysis/information in their article here.
Locally, one of the areas they analyzed, the Baltimore-Columbia-Towson area, shows the median "Summer" house price as $288,508, the median "Fall" house price drops by 5.5% to $272,750, and the cheapest month to buy being February with a median house price of $247,750, or a drop of 14.1%.
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The higher demand season here in the Crofton, Odenton, Davidsonville, Annapolis, and surrounding areas is March/April through August and then buying slows down in the Fall through the Winter. Sellers that have not sold in the summertime, may be more willing to negotiate during the time that there are fewer buyers out, which could be one of the reasons for the lower sales prices. All real estate is local and varies literally neighborhood by neighborhood in this area so these percentages may not apply.
There are fewer buyers, but there are also fewer homes available, so it could take longer for you to find a home that you love, in the area you want to live in, but now might be the ideal time to buy and save yourself some cash!
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