Recent studies show that property buyers can actually save money by completing transactions during fall and winter months rather than buying during the summer. While it is undoubtedly more convenient to close real estate deals when the weather is warmer, data shows that it does cost more.

Over a period of 2 years, sales and listings data for the 50 most populated metro areas in the US reveals that home prices were at their highest during summer and dropped back down in autumn and winter. What does that mean for you? It means that purchasing a home during the colder months could potentially save you a significant amount of money.

The most expensive months of the year were June and July when inventory and competition are at their highest. Listing prices drop as fall approaches and the studies show that actual sale prices dropped by almost 3% offering house hunters an $8,300 saving on the average house. Homes purchased in the winter are approximately 8.45% less than those purchased during the summer.

Regional fluctuations play a role in sale prices, as well. For example, the largest drop between summer and fall was in Hartford, Connecticut, where prices declined by 8.2% on average. Cleveland-Elyria, Ohio, saw the second largest drop at 8%.

Realtor.com’s chief economist, Jonathan Smoke, stated, “If your circumstances give you the freedom to be able to choose the best time to look to sign a contract on a new home, there’s no question that the market dynamics favor you the most to do that in the dead of winter, ideally in January or February, right before the activity starts to heat up.”

The moral of the story is, if you’re considering buying a home, stop waiting and start shopping! I am happy to help you find the perfect home for you and your family right here in Seattle. Take advantage of the colder temperatures and beat out the competition by buying now. The numbers don’t lie, so contact me today to save thousands on your new home.